Member Info for news

Z U L U lithium project - PREM
"MAIN ZONE 60-80 MT. [ 3 TIMES TO 4 TIMES MORE]
EXPLORATION TARGET 120-160MT." [6 TIMES TO 8 TIMES MORE]
https://www.premierafricanminerals.com/zimbabwe/zulu-project

Current: 20.1Mt @1.06% Li20. MKT CAP: £70M.

PROSPECT-ACADIA, ZIMBABWE
43.2 Mt @1.45% Li20
Just taken over by Huayou for US$422m.

Look forward to more news from PREM re: Leading industry partner or continuing discussions with partners [plural].

battery giant."-Stockhead.com.au, 8 July 2021.
https://stockhead.com.au/resources/african-lithium-investment-awakens-a-sleeping-battery-giant/

"...lithium iceberg for Zimbabwe which is home to a series of highly promising resources including ASX Prospect and London-listed PREM Zulu project. Over at Zulu, some 80km from Bulawayo-PREM currently has a DFS underway and has SET an EXPLORATION TARGET of
1 2 0 - 1 6 0 M I L L I O N TONNES."

Article mentions Prospect ---4 3.2Mt @1.45% lithium oxide.
---
PREM -Zulu, Zimbabwe
Lithium resource 20.1 Mt @ 1.06% Li20.
We also know about the EPO area. PREM tweeted today to show the area.
----
Ref: "CHINESE AFTER ZULU LITHIUM & TANTALUM MINE IN BULAWAY."-Mining Zimbabwe, 20.1.22. https://miningzimbabwe.com/chinee-after-zulu-lithium-and-tantalum-mine-in-bulawayo/

I found the above article on 5 Feb 2022 and I posted the above on this forum and it got carried to Twitter #prem thread.

"PREM has received S E V E R A L OFFERS from investors who want to PARTNER OR BUY OFF THE PROJECT with MANY coming from the Republic of CHINA, CEO GEORGE ROACH SAID."
[I only typed this part up when I posted it on 5 Feb 2022.]

"A/c to Roach, Zulu Lithium is a VERY ATTRACTIVE project for investors with the potential of producing HIGH GRADE SPODUMENE in VERY L A R G E QUANTITIES, the REASON WHY investors are LOOKING FORWARD TO A S T A K E in the project."

"Roach...never invited anyone to buy off the project as LITHIUM IS AWARE OF THE POTENTIAL FUTURE of the mine."

PREM was FORCED to issue an RNS on 7 Feb 2022 to state about "SPECULATION" and they confirmed HOT with a partner. By speculation, they were referring to the article as that was
seen.
---
Most posters do not look at Zimbabwe news hence they missed it. Now, I have found the Stockhead article as above and I am quite STUNNED to see the EXPLORATION TARGET for Zulu at 120-160 Mt. Hence, maybe why George Roach mentions LARGE QUANTITIES etc.

Both the 7 Feb 2022 RNS PREM issued did say they are continuing DISCUSSION with partners [para-phrased] and this is repeated in the latest 21 Feb 2022 RNS to give more info on progress.
Latest interview by George at Stockbox said that it is now at "PROCEDURAL STAGE".
The 7 Feb 2022 RNS said that it is HOT and investment in a "SERIES OF TRANCHES."
https://www.premierafricanminerals.com

------20.1Mt @1.06% Li20 to EXPLORATION TARGET OF 120-160 MT is 6 TIMES TO 8 TIMES MORE.

George certainly knows more?

DYOR. Wed 23, Feb 2022.
P.S. Acadia [Prospect] has just been taken over FOR US$422M.
PREM Mkt Cap: £70m from this site.

https://www.premierafricanminerals.com/about-us/board-of-directors
NEIL HERBERT - CHAIRMAN OF PREM.
Says he is at IRR [Ironridge] , now renamed Atlantic Lithium [ALL].

ATLANTIC LITHIUM
https://www.atlanticlithium.com.au/board-of-directors-and-management
N E I L H E R B E R T - Non Executive Chairman.
His C.V stated : Raised $400m equity finance and negotiated SALE of URA Min for $2.5bn.
URA Min was a start-up on AIM.

Thanks Stewart1 for your info about NH = Neil Herbert.
So, obviously, he knows a thing or two [under-statedment] about LITHIUM SPODUMENT at All and PREM. And also, he know mergers and acquisitions including RAISING BIG WONGA and SALE.

Very happy.

P.S.
£1=A$1.87 today.

CORE LITHIUM'S MKT CAP : £695m [A$1.36bn] 15Mt @1.3% Li20. [Australian listed]
ATLANTIC LITHIUM MKT CAP: £226 million [14.5Mt @1.3% Li20] [London listed]

[Both have partnership deals with Atlantic 50% farm in by Piedmont and DFS, extention drilling paid for including fees, MINING CAPEX etc] and Core has 2 Chinese partners ie Yashua & Ganfeng].

All spodumene players in Ghana [IRR/ALL] and Core Finniss [Northern Territory, Oz] and so is PREM a spodumene player in Zimbabwe which is hot for Chinese palyers with 3 TAKEOVERS already, the last being Acadia at $422m.
----
REASON FOR POSTING:
PREM at £78-80m MKT CAP with 20.1Mt @1.06% li20 HAS A BIGGER RESOURCE THAN THE OTHER TWO IE CORE FINNISS OR ATLANTIC.

So, let's be HONEST HERE, IT IS FAIR VALUE.
However, we are WAITING FOR NEXT NEWS AND PARTNER [LEADING INDUSTRY PLAYER PER RNS] OR "IN DISCUSSIONS WITH PARTNER [PLURAL] FROM GEORGE'S STOCKBOX INTERVIEW YESTERDAY.

------------So, let's be clear Daz423, if you can find a co like this at this point---SHOW US.---
Wed, 23.2.22. DYOR.

Daz423 -
Core Lithium on the Australian ASX: MKT CAP A$1.36 BILLION currently, 23 Feb 2022.
Core's Finnis project [SPODUMENE] at NT, Oz ----RESOURCE: 15mt @1.31% Li20.
First production: End 2022 but slight flexibility given it could be sooner if they can do it per some reports. 2 CHINESE BACKERS - Yashua and GANFENG.

PREM
Mtk Cap £78-80m.
Resource: 20Mt @1.06% Li20 [Spodumene]
George's interview with Stockbox yesterday: "PROCEDURAL ie exchange rate etc" relating to the potential INDUSTRY LEADING PARTNER. Also, Stockbox posted: "IN DISCUSSION WITH POTENTIAL PARTNERS [PLURAL]. Earlier interview, 14 parties interested, mainly CHINESE.

PIEDMONT-IRR/ALL
No, NO ONE KNEW about Piedmont and Ironridge having relations BEFORE.
However, in later reporting it was said that PIEDMONT had VISITED the Ghana lithium spod site and IRR told them if they were NOT interested, they had other PARTIES.
IRR/ALL's resource is SMALLER THAN PREM at 14.5Mt @1.3% Li20.

MKT CAP
NO co with a FARM IN ETC HAS A MKT CAP OF £80M.
Hence, waiting for NEWS from PREM as to the RNS day before of "potential leading industry player."

Hence, why your Mali lithium player has a lesser mkt cap as Bernard did not say that they had
A PARTNER IN TALKS? I havent checked for a while.

So, that's the total story. End.

Daz423,
Ironridge Resources had LITHIUM [spod] in Ghana and gold in Chad and Cote d'Ivoire.
Once the PIEDMONT deal was agreed, Ironridge decided to split the co. Ironridge then
put the gold, mainly the Cote d'Ivoire into a separate co, floated on the Australian ASX.

The GHANA lithium was then RENAMED ATLANTIC LITHIUM to reflect only lithium spodumene given that the 50% PARTNERSHIP WITH PIEDMONT was the attraction with DFS, STUDIES, EXTENSION DRILLING, FEES AND MINE CAPEX PAID FOR [some $150m approx from recall].

So, Atlantic Resources MKT CAP currently is about the LITHIUM PLAY. When one floats on the ASX with drilling alone for the gold, it does NOT command a HIGH MKT CAP.

So, those are facts to check. VISIT LSE ALL to check.

So, try to keep to FACTS. I know because I follow Mather's co's from INCEPTION.
I know about IRR from the very early days.

Daz423
My last reply to you. ALL lithium stocks are dependent on PARTNERSHIP deals.
I have quoted the IRR/ALL PIEDMONT story of which you were NOT able to refute.
No point in talking about PAST ie from discovery etc.

All we, shareholders are interested in is THE PARTNER to come in whether it is a farm in, investment. EVERYTHING MOVES -------FROM THIS POINT---------with a partner, EVERYTHING
MOVES ON ie DFS, studies, further extension drilling, mine capex etc [PIEDMONT IS PAYING FOR IRR/ALL]. IRR/ALL HAS OBVIOUSLY R E - R A T E D to a £2 2 8 M ILLION MKT CAP vs PREM £78m [or £80m approx] with PREM having 20.1M @1.06% Li20 and IRR/ALL at 14.5% @1.3% LI20.
-------------PREM HAS A BIGGER DEPOSIT THAN ALL/IRR----F A C T .

So, when your stock GETS AN RNS THAT THEY ARE ----TALKING TO THE INDUSTRY PLAYERS---THEN PEOPLE MIGHT BE INTERESTED but otherwise, it is PREM with 14 PARTIES INTERESTED.
--All FACTS.

No one is interested in discovery to mining time - PREM is PAST THAT.
----AS SOON AS MONEY COMES IN, THAT IS THE KICK-OFF TIME.----

Daz423
Ironridge Resources, now called Atlantic Lithium [lithium in Ghana for spodumene].
M K T C A P : £ 2 2 8 MILLION.
Resource: 14.5 Mt at 1.3% Li20

versus
PREM - Resource 20.1Mt @1.06% Li20.
Mt Cap: £78 million or in the region as different sites give a slightly diff fig but under £80m.

PARTNER
So, when IRR or ALL now got the PIEDMONT farm in for 50% CARRIED to production, studies, further extension drilling etc all PAID for including the MINE. From recall, it was a $150m but please check if interested.

So, IRR/ALL HAS A S M A L L E R RESOURCE and at the time of the farm-in, the DFS had NOT been done yet from recall so hence all paid for by Piedmont.

L O O K A T THE MKT CAP. IRR/All is also a SPODUMENE producer to come and the MINE IS NOT BEING BUILT YET BUT LOOK AT THE MKT CAP OF £228M TODAY of theirs.

--Yesterday, Stockbox stated in the blurb that PREM IS "IN DISCUSIONS WITH POTENTIAL PARTNERS [ P L U R A L] so George is making sure that he is NOT closing down partners.
In the case of Finniss, there are 2 CHINESE CO's ie Yashua and Ganfeng. So, that is WISE of George.

Zimbabwe is No 6 in the top LITHIUM PRODUCING countries [Ref: Major lithium producers in 2020 by Statistica. Call up the title to check. No 1 is: Oz, Chile, China, Arg, Brazil, Zimbabwe and Portugal].

Call up the title: " Z I M B A B W E LITHIUM MINES ARE ATTRACTING GLOBAL ATTENTION."
----
So, when your fav lithium stock in Mali can get to the top producers in the world for lithium and RANKED, got big lithium reserves like Zimbabwe and MORE IMPORTANTLY GOT 14 PARTIES TO THE TABLE per George of PREM, then people will be interested in your fav.

But for now, it is ZIMBABWE and ACADIA, SINO AND BAKITA has been RECENTLY TAKEN OVER --ALL BY THE BIG CHINESE LITHIUM PLAYERS [INDUSTRY LEADING ETC] SO THE CHINESE ARE
INTERESTED IN ZIMBABWE FOR LITHIUM.

For the info from recall, I will check later when I have a bit more time as I am rushed.

Here's the link to check:
https://www.australianmining.com.au/news/core-lithium-gets-to-work-on-landmark-finnis-mine/
"Core Lithium gets to work on landmark finnis mine."-Australian Mining.com.au, 30 Sep 2021.

If the link is faulty, CALL up the title and it will show up.

By the way, Finnis lithium project has also 2 CHINESE involved ie Yashua and GANFENG.

Daz423
I have NOT posted incorrect info on Finnis. I have just checked :
"CORE LITHIUM GETS TO WORK ON LANDMARK FINNIS MINE."-Australian Mining.com.au, 30 Sep 2021.

"After FID [Final Investment Decision] - 1 ST P R O D U C T I O N PLANNED FOR E N D OF 2 0 2 2."

According to your link WHICH IS OUTDATED, you said CONSTRUCTION BEGIN IN 2019???

You have NOT been following the story. My memory serves me correctly. Some other articles quote an earlier date for FIRST PRODUCTION ie a bit earlier than END 2022. I have to check when I have the time from their latest RNS.

So, all spodumene mines REQUIRE capital and it is UNDERSTOOD from what I said, it was
CONSTRUCTION once FID is taken. From discovery to mine - IF ONE CANT GET THE CAPITAL then the time is flexible given the price of the metal is also of interest ie scoping cost vs metal price.

FOR THE AVOIDANCE OF DOUBT: Daz, you tell us that CONSTRUCTION STARTED IN 2019.
The RNS's stated that it will be END OF 2022.
So, your info is WRONG AND OUT-DATED.

A/c to the Scoping Study , the cost is $688 for spodumene.[Saw on Twitter #prem]
S P Angel quoted spodumene [Cif China] yesterday as $2,710.
So, there is no chemical plant etc to process it into lithium carbonate/hydroxide.

Finniss [Core] is also in spodumene and it did NOT take 6 yrs + to get the mine running. There have been a lot of announcements but i think in total it will take 2 years max from recall.

Kindly check and do DD. Wed, 23 Feb 2022.

Thanks.
On Twitter, #prem thread, Andro ..is commenting to Brickmaster abut this same point .

On the other PREM forum, Wainey also got the same idea as me about procedural per George on Z$ and US$?

I started listening at mid-point. Is Geoge saying the discussion is at the "PROCEDURAL" step ie Z$ to US$? Thanks.

George R. on Stockbox, 22.2.22:

"Consistent drill results continuing to filter thru.
DISCUSSIONS continue with potential PARTNERS. [plural]."

"- On strike" [Means the drill results].
"Many, many more to come re: bore holes."
Question was asked about COMPARABLE DEALS and George said he would be in trouble if he answers that. Why? That could be considered to be providing ....?
"Procedural."

Interesting that there are PARTNERS, PLURAL.
Well, we have looked up all the M & A ourselves to get an idea but thus far no M & A for £78 million which is the MKT CAP OF PREM FOR 20.1MT @1.06% Li20 in the market?

rock mne in Mali for $130 million. "-Fastmarket, 15 June 2021.

Ganfeng will help LMSA raise $64m and provide up to US$40m in direct finance assistance."

So, total deal is 130+64 [raise] +40= $234m.
The total SIZE of grossed to 100% to see deal size is =$234 x 2 = $ 4 6 8 million.

GOULAMINA
https://www.mining-technology.com/projects/goulamina-lithium-project/
31.2Mt @1.56% Li20.

Just to illustrate INDUSTRY NEWS OF M & A - the recent 100% Acadia takeover by Huayou was for $422 million for about the same size resource although grade is a bit higher at Goulamina.
So, M & A does illustrate indications of deal types.

Since then, French are leaving Mali [post this t/o].

PREM
20Mt @1.06% Li20.
EPO [2 drill results released on 21.2.22] with potential upgrade of resource?

---Illustrates the different styles of 100% takeover by Huayou [Chinese] and Ganfeng [Chinese].
The Ganfeng deal with BCN for 29.9% stake & 22% direct stake in project was posted yesterday.

Now, to wait for the PREM next RNS relating to what PREM released yesterday, 21.2.22:
"Our current objective is to secure DIRECT TRADE INVESTMENT into Zulu from a potential L E A D I N G I N D U S T R Y P A R T N E R .* [[PREM RNS, Mon 21 Feb 2022] Due diligence is continuing per the RNS?

Found out from a Zimbabwe Newz site that Sino had invested in Prospect's Acadia. Bikita exports PETALITE used in ceramics. They are exploring whether their SPOD is commercial. So, that is the reason given that Bikita was t/o was not for the spodumene as its petalite.

Zimbabwe's Acadia lithium mine fo $422 million. What you need to know."-Newzwire.liv, 24.12.21

"Prospect decides to go a different rout in seeking a NEW INVESTOR. They open up a bidding process.. OUT OF 7 BIDDERS, co decides to go with Huayou, biggest producer of cobalt.
Co's like Prospect -harder to raise capital on world markets. Price paid was a 78% Premium on Prospects 10 day AVERAGE price." Article also says that due to capital raising harder from world mkts, smaller co's sell out.
--
Shows that PREM is also going the Prospect style ie seek NEW INVESTOR given today's RNS, 21.2.22 : " Our current objective is to secure DIRECT TRADE INVESTMENT from a potential LEADING INDUSTRY PARTNER." As said, George R, CEO said in an interview on PREM's Twitter feed that there are 14 parties interest, mainly Chinese.

Daz423
Let us look only at Zimbabwe and M & A ie Acadia, Bikita and Sino - ALL TAKEOVERS.
So, as a country jurisdiction, the CHINESE LIKE IT as all are Chinese acquirers.
In the Acadia deal at $422m, thats from Huayou.

So, who the LEADING lithium industry player is per PREM RNS, one has to wait as there is no use in putting out a name at this time.

No, whilst the DD is being done LIKE NORM, I have NOT yet checked into HOW LONG IT WILL TAKE as it needs legals etc. I dont have the time to check the GANFENG - BCN initial 29.9% + 22%+ [cash direct interest and interest in the project]. When this deal was announced, it did or may NOT have included the EPO.

So, the drilling is for CONCEPT proving or if there is an upgrade, we have to wait to see how
the details of the deal plays out. As I said, IRR further drilling was PAID for.

KOD and Mali has nothing to do with PREM - the jurisdiction is different and the terms different.

So, the current deal may be also CASH ON THE TABLE VIA A DIRECT INTEREST and maybe also an interest in the project -OFTEN CALLED ECONOMIC INTEREST. Shareholders in BCN should have known that with 29.9% direct interest in BCN [paid £14.4m cash] and 22%+ interest in the project, it appeared OBVIOUS that the project MAIN OPERATOR would be Ganfeng. That's what happened ie taken over.

No point in trying to decifer at this point as we have seen the different styles of the Chinese and they are not in Zimbabwe to give out JV's in the FINALITY. However, they go step by step as seen in BCN.

Mon, 21 Feb 2022.
Yes, they could pull out but any examples of this in Zimbabwe? Yes, there is ALWAYS a first time so no denying that. But today's PREM RNS said DD is continuing ie BEING PROCESSED?
George 's interview per the PREM Twitter is that there are OTHER PARTIES - I think he said 14 so lets take 1 step at a time via RNS. DYOR.

RB, all standard lingo in an RNS.

Have a read of Ganfeng and BCN. They needed China's approval as well. Same as Sino with the latest Zimbabwe deal to take it over.

Due diligence is currently happening per RNS and as always it needs to go through the process, same as the MORISSON supermarket takeover or other takeovers. Wording all similar.

If agreed, then RNS will say so and if no, also RNS'ed.

George wants the "LEADING INDUSTRY PLAYER" so he said there were some 14 parties in his video interview. OK, that's all from me.

DYOR.