Member Info for NellyB

Martini / Raaydaar, can you please post a link to where it says PREM have no cash? You say it's a well-known fact, so it shouldn't be hard to refer a source.

It's not accurate. The mine ownership is not shared with the government. Zulu is 100% owned by PREM, also the AGM was 29th July, not 29th June, as stated twice in this article.

"Prem currently doesn’t have money to pay for diesel to turn the plant on. So entropec can’t test."

Keep it factual Jaglith. You have no idea how much cash PREM has, or how much diesel is stockpiled.

I'm not sure the world needed to know that you are keeping your ONE share, Martini.

According to Canmax, it's worth £200m :o)

For anyone who's browser does not support HTML5 video, here it is from twitter:

https://polaris.brighterir.com/public/premier_african_minerals/news/rns/story/xpd8emx

Raaydaar, I'd suggest that you'd suggest, that even if the plant needed a single extra $0.50 bolt it didn't have, you'd use that as an opportunity to drag the sentiment and share price down. It's clear what your motives are, and they are not in shareholders interests.

Raaydaar, that's standard practice when funding is an uncertainty, as well you know. GR has never failed to deliver on funding, and an additional 2 billion shares isn't going to be the difference between producing, or not producing.

Pure scaremongering on your part, as usual.

Jaglith: "If the plant doesn’t work this week, then either the whole design is worthless and a new design and 100 million is required or the ore is worthless. Lots riding on this week"

If it does work, you'll need to close that short, before it burns a hole in your trousers.

If it does't work, there will be tweaks as necessary to fix it, certianly not a whole new plant. Where the hell did you get that drivel from?

As for the ore, it's been tested, tested, tested and recently been confirmed as around 10% better than previously thought. Try again. :o)

I find it amusing that when the news of the conditioner being on site and nearly assembled, as per plan, the de-rampers and shorters come out in overdrive.

Raaydaar posts today: 12

Jaglith posts today: 8

This time next week, we could be the first AIM company producing SC6. :o)

Wullie, if you invest £100 in shares and their value falls to £10, have you lost £90, or £1000? :o)

Tbob418,

GR can only assess the plant needs on the given information at the time, as advised by experts in the field. This is just the way things are and I think it's wrong to assume differently. If you've ever built anything yourself from component parts, you'll know that it's impossible to know whether the finished item will work as expected, until all parts are assembled together, and tested.

Patience is key, as well as tempering one's expectations.

Tbob418,

It's no secret that PREM will need to replace the sorters at Zulu. This is told in the final results and has been much discussed before. I think it's highly unlikely that the payment for this will come from Stark, at least not in the short term, and probably not without the time and expense of litigation against Stark. GR does make it clear however that Zulu can produce SC6 in the meantime without taking this step, by careful selection of ore from the mine.

An improved magnetic separation unit is still needed, which may currently affect the quality (and hence value) of SC6 produced at Zulu. I believe this is a considerably cheaper fix than replacing the sorters. GR has previously stated that the Zulu resource is relatively low in iron content, so is resolvable.

GR has also said he'd like to make improvements to the bagging equipment at the end of the plant, to improve efficiency. This however will not prevent the production of SC6, and should be a fairly simple undertaking.

All this being said, none of these items are thought to be essential to getting Zulu into profitable production of SC6, according to GR, in the final results.

The share price briefly hit 1p, on anticipation of completion of the plant, a little over a year ago. The value of SC6 has plummeted since then, as has confidence in GR's ability to deliver a working plant. Personally, I attribute at least 80% of the blame for this with Stark. If a different contractor had been chosen we might have a working plant by now, or it could also have gone the other way, costing us considerably more for the plant, still with similar issues. We can't change the past. I think GR has stepped up after kicking Stark off site and has taken the right steps, in a timely manner, to get the required experts on site to not only remedy the plant issues, but also to assess the extent to which Stark are liable for the accrued losses.

Given the (hopefully temporary) drop in lithium value, the increse in the overall plant costs, and the dilution to shareholders, I think fair value today is in the 0.4p to 0.6p range, which is multiples higher than we are today. I think this is easily justified when you consider the progress made since the EPO was granted, and the shareprice then spiked to 0.4p before there was a mark made in the dirt, more than 3 years ago

Raaydaar / Martinigirl

You might see yourself as an 'information disseminator'.

I see you as a disingeniuos troll who is hell bent on destroying PREM, it's share price and all the value of those shares that hundreds of people here own. There is no balance in your views. You are always finding the worst case scenario, and adding your own little spin on things, guised as facts, but pure fiction. The fact you hide behind multiple accounts is very telling of your intent to mislead, deceive, and misinform.

Something possibly overlooked so far, but almost half way through the final results:

Zulu

• Zulu will have its new scrubber unit installed and operational in the week of 10 July. This will enable Zulu to produce and derive revenue from the sale of SC6.

• Premier has engaged Zimbabwean banks to facilitate the funding of Zulu's short-term needs as they may arise.

I fully realise 'engaged with' does not mean anything concrete in terms of a lending facility, but at least it's there in black and white as a statement of intent.

Should be an interesting couple of weeks.

Jaglith, there is a fully functional lab on site that can test the grade of ore in a matter of hours.

The reason samples have to leave site, is for independent verification of the grades.

Remember to add in the profit share of the Lithium hydroxide to those figures, Jag.

Of course Stark messed up. What they designed, and built was a year late and not fit for purpose.

I belive that GR gave Stark more than adequate time to corrct the issues, but that they were unable or unwilling to do so, so he called in an independent specialist and OEM manufacturers to assess the plant and what changes are needed to get it working. Armed with that assessment vs the original contract with Stark, and a court should rip Stark to pieces.

I believe there will be a court case, or out of court settlement, but not for another 6-18 months, after all the plant issues are resolved, the legal process gets worked through, and PREM finally have the funds to tackle such an undertaking. To spend money and time now launching a court case would be detrimental to achieving production ASAP.

Pincer, be advised that Martinigirl posts under multiple aliases on this share, in an attempt to manipulate the price down, and slur the reputation of the company and CEO, and has done consistantly for many months, despite holding only 1 share.

I don't think that smell is Ammonium Sulphide. Probably something far more organic.

Because his short is burning a hole in his pocket :o)