PREM : ZULU Lithium DFS27 Mar 2022 19:41
Are we [shareholders] expecting the Zulu Lithium DFS -----in Q 2, 2022?
I saw a screenshot on Twitter and wondering if that is still on?
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SUZHOU
Once their £10.8m balance is paid, they become a 13% holder of PREM [£12m @0.4p].
NEIL HERBERT - PREM & Atlantic Board
Atlantic share price was 35.3p on 15 Mar 2022 with 20Mt lithium in Ghana.
On Fri, 25 Mar 2022, the share price jumped to 51p, MKT CAP £293 Million with the recent upgrade of their resource from some 20Mt to some 30Mt region.
Story of Atlantic
It came to market around the 18-20p mark but fell to 4p+ at one stage when many exploration juniors were facing a bear market. Mather used to be the CEO but later left it to Mascolo to run, formerly Rio. IRR started with IRON ORE in Africa but the cost was high due to the location. They were also in Queensland with other minerals. Then, they went to Cote d'Ivoire to do gold exploration and that was pretty good. However, they decided to concentrate on LITHIUM in Ghana, also for SPODUMENE. One day, out of the blue, popped the RNS that Piedmont had JV'ed. It was said that Piedmont had gone to the site and IRR told them if they didnt want the project, there were others. NO ONE KNEW as they never told anyone. Price at the time of the JV was around 20p mark but it was marking time UNTIL the deal went thru. Then, it started RE-RATING as folks digested the Piedmont deal [50% JV].
Shortly after, they decided to SPIN OUT the gold side at Cote on the ASX leaving ONLY LITHIUM IN IRR, renamed Atlantic Lithium. My, Mascolo used to do some interviews and the murmurs of when is things happening given drilling takes time. No sound, also murmurs.
Recently, Mascolo passed away - it was a great shock as he didnt say he was ill. Hope the stress didnt kill him? IRR survived the bear market in lithium etc as Solgold could raise funds.
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At PREM, the dark days of 0.04p------today 0.35/0.37p , Sell/Buy [Fri, 25 Mar 2022].
One wonders if Suzhou etc would want George Roach to spin out the other assets in PREM.
Someone posted about PREM keeping 51% of Zulu. NO PARTNER would allow that ie 51%, the best would be 50%[JOINT] as they dont usually allow the junior to become the OPERATOR .
DL was hired by George to have a 2nd opinion. From what I know, DL uses the best ie SPK Consulting. So, hence why the core pics are courtesy of the Principal Geo at SPK.
As for Neil Herbert, that is really positive given he must have experience having dealt with Piedmont, now Suzhou.
So, we await DFS and UPGRADE of Zulu's 20Mt as they are currently drilling.
News, Sun, 27 Mar 2022.
The story of Atlantic is just to show the travails of a lithium junior but it turned out given the advantage of infrastructure along the coast, cost etc. Hope we all benefit from Mr Herbert's experience.
DYOR.
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