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Hopefully PREM can find some way to finance itself and the Chinese show mercy on PREM and decide to continue the collaboration, otherwise it will be a sour spring 2025. Commodities are mostly all down now as China controls the narrative. However these are cyclical so higher prices will one day return.

https://finance.yahoo.com/news/china-drives-african-lithium-surge-080000131.html

How depressing. That 23rd August RNS should have been our alarm bell, long term holders like me should have sold right there and then.

Ooff, if article is real then that's not good. One thing is suppliers not getting paid like Zenith, another is workers on the ground not getting their salaries for 2 and a half months. Hope a resolution with Canmax is near by.

Jag, indeed, these lithium prices are having an effect even on the large miners like Albemarle. Hopefully a turnaround starts in 2025.

https://asia.nikkei.com/Business/Markets/Commodities/Albemarle-cuts-back-lithium-processing-in-Australia-amid-price-slump

Agreed Ricky, GR mentioned they were "preparing a proposal to Canmax and others". I assume this will involve a new way forward. Hopefully Canmax will play ball. I also agree no resolution is around the corner yet. Sure would be nice to have that April 2025 deadline postponed by 1 year.

Valid question TT, Ricky is right. Getting the plant to produce 4k tonnes of SC6 each month would provide a huge boost to the sp and investor confidence. It would also allow PREM to make first revenue. And as stated, open the opportunity for different plant configurations for other rare elements. Profts will remain very small though as long as Spodumene is below $1200 per tonne. But commodities are cyclical, EVs will still be required, so we can't rule out another rise in the coming months/years.

Obviously the key questions remain:

- Can the plant be optimised to produce SC6 steadily?

- When will this happen?

- Will Canmax and PREM renegotiate terms?

- Most importantly, how will PREM fund itself through this optimisation period?

I am holding, even while 78% down, as i believe the bottom will be hit with the next placing and dilution, unless GR cannot find any other funding alternative over the next 3 months of course.

Acker, what do you reckon, another RNS tomorrow with the placing price?

Really hilarious how the same RNS is interpreted wildly diffrrently by the 3 categories of investors present here:

- Those shorting it are rejoycing. All they rely on is negativity

- Those long and bullish see only positives and relentless buying, even though the price keeps dropping. Reality never sets in with them

- Those long but cynical and realists (called derampers by the long bulls that think price is moving up) see this RNS as a failed excuse to try to stem the bleeding and cannot see a way out of this situation this 2024, not without more funding

Acker, Jag is right. Also Biztech mentioned the proposal to Canmax. Maybe some renegotiation may occur afterall. However, 62% of investors did not vote and Biztech highlighted how potentially, Canmax may have also abstained. Might explain PREM trying to get them back into the fold with a new proposal (this last comment is just me reading tea leaves).

Tbob, GR refused to disclose much about future financing or timelines into production. He kept repeating the fact that each component of the plant is working, but that it will take "some time" for all of them to be optimised and calibrated/balanced between one another.

Biztech just released a breakdown for it (focus on the facts, not his personal frustrations):

https://youtu.be/FNqE7pgqc10?si=8gdOQvtJSnHayXfN

I can't believe he actually tried to pass on his enthusiasm for tantalum and quartz. Obviously noone believes him anymore. I hope they don't mothball Zulu. No licence, no permits, just some claims over already occupied land by artisanal miners. I can't see anything to look forward to for the next 3 months.

What dooes the telegram group say about yesterday's trash interview?

No placement price but its rock bottom anyways. I agree he will use the money asap. Heading down....

Mutare sale, tantalum sale, quartz sale. Back in the day was gold, then manganese, then tungsten....on and on, with a million promises and RNSs of future glories. And here we still are, not a single pence of revenue generated in a decade. Only missed deadlines, failed launches and endless dilution. AIM is way too much of a jungle for me.

I am down 80%, nowhere to run. And since I am not that confident of a turn around anytime soon, no point taking the loss and buying back in. I'll just have to wait and hope.

Have a good weekend all.

If i were a contractor not being paid by PREM with my workers waiting for salaries, i'd also sell immediately.

Jag, what pump? How is this going to pump? On what news? Even if GR comes out and says "we have sc6", market won't believe him without official assay results. And a YES to the vote definitely won't be raising the price.

I assume this period will last a couple of months at least. Feel sorry for those that believe the plant is optimised and SC6 production is around the corner. We are risking another RHA of 2015 all over again.

Acker, as a hunch, do you think the general meeting vote will pass? I think it definitely will, 100%

I know i'd be selling them asap as well, they need to be paid. Dilution never pleasent but this was a necessary move. Next stop: AGM results

Smattock, thanks for the info. Did dome digging and found the below. You are unfortunately right. Not only Zimb government is very reluctant to giving out new EPOs, but even more reluctant to extend already expired EPOs. PREM was not the only one whos EPO expired last March. This is even worse than GR not being capable.Sure he can make all the requests he wants but if the Zimb government is playing hardball this won't help. Hopefully the govenment soften their stance by year end.

https://www.newsday.co.zw/thestandard/business/article/200024464/zimbabwes-mine-executives-call-for-more-epos

Metal, i hear ya, but the extension should have been a formality. Plus, without being able to dig, PREM is bound to spend money on artisanal miners indefinitely. Without digging with proper machinery, they can't feed large quantities of ore into the plant for production as they depend on lemmings doingnthe hand work. It's a "dog chasing its tail" situation.

Sharebel, the EPO permit that was granted in March 2021 was for 3 years. This has expired now. As per Zimb law, the government can extend an EPO permit for up to 3 more years. However this has not been granted yet. It is definitely a big issue which GR has barely addressed this year, and one that is currently playing in Canmax's favour. And Stockbox barely enquired about this during interviews. I wish someone pressured GR to speak up about these permits and licences.

PREMs' mining permit expired March 2024. This means that technically PREM is not allowed to mine across the EPO area, which would explain the 100 or so artisanal miners on payroll. Yet no word on a 3 year extension yet.

PREM has not yet received its export licence either. As per GR back in mid May, he was in Harare dealing with this and it would have taken 3 weeks to resolve. Technically, without a licence, PREM cannot export anything.

As you all have one thousand theories, anyone care to explain why GR, Stockbox and most on this BB are not focusing or enquiring about these very important pieces of the puzzle? What do you imagine are the blockers?