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Canmax will extend, probably another 6 months. Personally I am not worried about that. I more worried about the plant actually working full time and consistently delivering good grades. Also the export licence is an issue. But I reckon the Zimb government will be more incentivised by potential sales and revenue, if the plant can prove to do what it is meant to do. July-August will be more interesting than June.

This was a useless RNS right? Of course we all knew "some spodumene" was present. Even the on site Meccano/Fisher Price lab can confirm that. But I bet if they sent those samples out to a professional lab the results would come back below SC5.

Lots of fine tuning will be required and therefore more funds will soon be needed. But we already knew all of that, which makes this RNS fairly pointless.

And market know this, market's reaction is usually king.

Next RNSs, still 4 on the table for June:

- More dilution to raise funds

- Further operational update to give a generic status about improvements made to the plant and potentially reagents, parts or whatever else more that may be required to be purchased

- Extension of the Canmax agreement (hopefully)

- Year end accounts

Acker, yes you are right, year end report as well. Roach one I am not so sure of but definitely these 4 are on the list

It's all dejavu, we've been here before in 2022. Same plant starting, same ore being fed, same video of machinery working , same white froth. Until plant can produce at least SC5 consistently, I expect 3 more RNS this month:

1) More dilution to raise funds

2) Another operational update that confirms more time needed to tweak things until results are verified

3) Extension to the contractual deadline set for the end of June with Canmax

Snowking, we heard these words before, and we saw videos of the white stuff 3 years ago. You were just as excited then as we you are now. Let's see what the results are like though first, there will be lots of fine tuning and money grabbing in the mean while. At least the RNS is more balanced compared to George's overly enthusiastic one from the past.

PREM will need more funds and a further extension of the deadline in order to prove continuity and good quality. Hopefully no more extra parts required.

If they can pull off the miracle, that will finally be my queue to average down massively from the 3p I am stuck on.

Hoping for a reverse split is crazy work

Endless dilution, reverse split, debts, share value depleted, plant still not doing anything, empty words of progress by GH, more deadlines looming, no production. Still nothing to see here ⏰️

So much for "non dilutive funding". All he's done is tripled the outstanding share count. And as far as operational updates, we've heard all these before with George: water, filters, scrapers, ore feed, reagents, floatations etc etc.

Does the plant produce yet? No. 6 weeks left, all to be proven yet. Only thing 1000% guaranteed is more dilution on the way and more RNS with "we are pleased with the continued progress being made..."

Still no reason to buy more to lower my average.

Been here long enough to see history repeat itself, same sayings, different actors:

If George said then it must be true and we can trust it.

If the RNS said it then it must be true and we can trust it.

If Acker, SK, Dead Eye Beaky said it then it must be true and we can trust it.

If Graham said it then it must be true and we can trust it.

In the mean time price keeps dropping, dilution is never ending, plant still not working. 2-3 more months, tick, tock, tick, tock ⏰️

I still see zero reason to average down, plant still isn't working, still no production and still no clarity on quality and quantity of output. Never mind licences to export etc.

For those like me deep in the red, buying now or when there is more certainty at p0.05 or even higher makes no difference. Let the dilution continue until they can prove it is actually worth something.

For those joining the party now and wanting to gamble over the success of these ongoing operations over the next 2-3 months, this is actually a decent entry point from an operational point of view.

Acker, unlike you, I can read the situation, and have been calling it correctly. If I had followed your view and advice, based on nothing but personal hopes and wishes, I'd be down even more than I am today.

PREM is still in the same mess as two years ago. When the plant starts to produce saleable product at consistent levels, trust me, I will turn cheerleader again and massively average down. My narrative has been consistent.

You instead are causing many to part with their money, with lies and deceit, flip flopping between ideas and support, with hopes of some mistycal 2030 hydroxide plant. In the meanwhile even your buys at p0.1 are down 90% now.

The ones you green boxed are the ones that have been right for the last 12 months at least, you have been wrong in every call. Enjoy your echo chamber.

You know all that and you still tell others to buy??!! You've been telling people to buy since p0.1, maybe you need reporting and investigating.

The garden with your courgettes is where you belong mate.

Kaltersee, you forgot the famous: "we are looking at non dilutive ways to fund the progress".

Not even Pinocchio lied that much.

And yet so many here believe every word on every RNS, even the gullible Acker, whom was once the best critic of reality. How the mighty have fallen.

And right after my post, there is the funding RNS to prove my point.

I still see zero reasons as to why I should finally average down. RNS was all smoke and mirrors. This is guaranteed to be diluted further and price going to p0.012.

When there are actually updates on uncontaminated, saleable SC5 or more coming out the other end of the plant in a consistent manner, that will be the cue to massively average down. Until then, it's all rhetoric. We've been here before.

Did they not make it clear that the plant can run 3 weeks on and 1 week off? Week off was for maintenance I believe.

Sol, exactly my thinking and modus operandi. No point buying now and chasing every dip, trying to catch a falling knife. When the additional parts can actually prove to support production of at least SC5, that's when I load the boat. Until then it's death by 1000 cuts with continous "small" dilution rounds to keep paying staff and pay parts of debts.

Market clearly did not like the news, the news of the floatation unit was already priced in and markets are spooked by the government export ban.

The RNS said nothing besides "we may be diluting you and spending that money to install a plant part that we do not know if it will work yet, and even if it does we have no idea if we can even sell the product yet. But optimisation in Q2, fingers crossed!"

Don't get me wrong, I am glad the part is getting to site and will at some point be installed and tested, but this market reaction is telling.

Market clearly did not like the news, the news of the floatation unit was already priced in and markets are spooked by the government export ban.

The RNS said nothing besides "we may be diluting you and spending that money to install a plant part that we do not know if it will work yet, and even if it does we have no idea if we can even sell the product yet. But optimisation in Q2, fingers crossed!"

Don't get me wrong, I am glad the part is getting to site and will at some point be installed and tested, but this market reaction is telling.

We go by chinese spot prices. Chinese market is closed until Tue 23rd due to Lunar Year (new years). Price is stuck at $2,000 until then.