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Right, that's also what i assumed. Some were saying that an AGM can only be called once but obviously that was a lie.

Biztech explained how there were 850 million shares left from the previous raise so GR should have 2.85 billion to play with. That should cover to end of September I reckon. But i seriously doubt production and revenue will start in September so more funding will be required.

I am down 68%, i got nowhere to go but wait.

Thank you Martini, that's what I have been alluding to as well. You just explained it better. This last component is NOT the end all fix all solution. GR is very careful with his words. Sorry most cannot seem to understand that (like those that were calling us derampers for being sure there would be more dilution, and here we are, again...)

Acker, do you think he'll just keep raising more 1-2 billion shares through continous AGMs or do you think GR has an ace up his sleeve that we don't know about? I can't understand why just 2 billion shares.

I never said it won't work, I saod it is not the ultimate final.piece of the puzzle. The conditioner cell will be installed but it is NOT the last fix, there are other components that need sorting. If you think SC6 will come oit of the plant just because the conditioner cell is installed, you are high.

Read the RNS people, it explains how sorters and other parts need improving still.

And this is why production is NOT imminent. Wake up guys....

Week commencing, not the actual 10th. And it is EXPECTED to work....we all know how GR uses his words.

"At this time, we expect an additional conditioning cell to be installed during the week commencing 10 July 2024 and thereafter it is expected that the plant will operate at design throughput and with adequate recovery to meet the production targets originally agreed."

Mug, your posts have always been trash. I won't even ask to clarify cause you'll write dome trash fake bullish reply like "production imminent"....poor loser

That's what i am saying, there won't be production anytime soon. And I have no idea what Canmax thinks, hence my questions to the forum? 🙈

I'm sorry to crush your dreams, but if you think that the addition of the conditioner cell, once installed, is the last component that will make the plant work front to back and produce SC6, I am sorry, but you will be disappointed. There are still issues with sorters and other components.

Side note: a lot of you were saying that once an AGM is called, he can only then call for an EGM. That was incorrect as we've had 2 AGMs now, so how many times can he call for these?

Either GR thinks he only needs 2 billion shares because he has alternative funding somewhere

Or

He did not want to upset the market further and will continue to call AGMs every 2-3 months, adding 2 billion at the time.

Will Canmax support? Is Canmax happy to watch PREM dig itself into a hole? Will PREM actually produce this year? Will Canmax just wait for April 2025 to watch PREM collapse under its own debts and take it all for basically nothing?

The next 3 months will absolutely be crucial, but we certainly are not out of the woods quite yet. As a matter of fact, we seem to be heading deeper into the woods....

Yup, this is good news. BYD cars and especially the chinese EV market is growing. If only lithium would start its rise again, we know spodumene prices tend to lag behind lithium 🤞

https://tradingeconomics.com/commodity/lithium

Acker, if all goes to plan as you say, i agree with the p0.50 by year end. IF.

The Biztech campaign went nowhere, he admitted he did not get enough traction. I also wrote to him that it may be a futile exercise, and he agreed. I am not happy with GR, i think a more project/mining experienced person could do better. But the only ones that can get rid of GR are Canmax and to some degree the top 10 large shareholders.

Indeed Ricky, it states

Premier has obtained support from its offtake and prepayment partner allowing Premier to pursue alternative funding avenues.

• The calling of a Special General Meeting to increase the number of shares free from pre-emptive rights by no more than 2 billion.

Not sure what alternative funding is, perhaps the sale of the Mutare holding together with some bank loans. Shame to have to sell assets though, but like I said before, happy that all the focus and energy are on Zulu.

Not sure, hard to call, but p0.07-9 seems plausible. Dilution is never good, but if the plant can be finally be sorted within a couple of months, licences are granted and export begins, we should see p0.30s-40s again pretty quickly. I also look forward to official assay results.

GR's timelines are never respected but i remain hopeful that the whole "African bush to a full plant" storyline comes good at some point.

We always have the hard stop of April 2025 to measure against (unless Canmax is happy to review contractual agreements once again).

George, i don't trust you much but your OEMs seem professional, i trust in your people more than I trust you. Let's go!

It may just be me, but i actually thought the yearly report was quite decent. I wish all RNS released from PREM were that detailed and professionally written. My favourite parts were:

"It is important to acknowledge the support that has been provided by our offtake and prepayment partner. Our communication remains open and frank and the Company remains committed to meeting the long-term interests of our offtake partner that is focussed on the supply of SC6 into the future. At the same time, our offtake and prepayment partner is aware of the challenges that the production delays have caused, in particular in relation to cash flows and has expressed agreement to the Company seeking other finance opportunities provided the long-term interests of our offtake partner are not impinged." Glad to hear relationship is solid.

"Application has been made for renewal of the EPO but in the event that this is not forthcoming, the company has registered extensive new mining claims over prospective areas within the EPO." I knew this was wasn't going to be an easy fix like SK and Dead Brain Beaky were alluding to. Their words back in March: "George told me it is a non issue." 🤦

"Premier had acquired operational control and 50% of this gold exploration project in Southeast Zimbabwe. However, at this time, the focus of Premier will be that of Zulu. Premier will explore other alternative opportunities to releasing the potential value and opportunity of the Turwi Gold Project." Not useful yet but could come in hamdy next year. Glad GR admitted nothing outside of Zulu has been achieved....good, keep your focus on Zulu George!

"At this time, we expect an additional conditioning cell to be installed during the week commencing 10 July 2024 and thereafter it is expected that the plant will operate at design throughput and with adequate recovery to meet the production targets originally agreed." Only 9 more days until we receive info.

All in all, not bad. Sure we will need further funds very soon, i assume a call for shares will be done by end of July, and we need mining and export licences confirmation, but i remain positive. First shipment and production by end of October? 🤔

Also the year before that. Expecting the report today to be released without issues, between 2pm and 3pm.

I disagree, my preferred route was and still is the traditional one, a JV with a DFS. I remember myself and RomanWolf wanting that approach while Acker and Snowking followed what GR did.

We have time until April 2025 to see if GR's unorthodox approach will have worked. But personally speaking, a CEO of a junior mining company that has never generated revenue and that tries to time the lithium market is a dumba$$.

Happy with this update, no fluff, no maybes, no smoke and mirrors. Just facts, actions and mitigation plans. Also, it seems pretty clear that Canmax is still very supportive of GR and of this whole project.

A further raise is mandatory, the sale of low quality spod is not enough to cover finances from July onwards. I also expect an EGM this July.

Wish there was more info on permits and licences though. However, i look forward to the next 6 weeks. I still trust that they can sort the plant once and for all.

Thanks Horult, best thing i'ver ead on here for some weeks.

Surely we get some type of RNS/tweet this week with general updates? Come on GR, only cause the plant is non operational it doesn't have to mean your comms also stop.

Indeed, even though i would not be surprised to see a delay in the report release with a share suspension as it happened in the past. It might actually be in GR's favour to delay and buy some time (if things are not going as planned). If things are on track, i'm expecting a general status update RNS this week or early next week.

Personally i would have booted GR at the end of last year. But lucky for you faithful, we are small holders at T212 and we do 't even get to vote so it matters not. I am certain SK, Acker, Goozee and all other long term big holders will vote YES anyways so the result is a given, unless Canmax pulls the rug.

General update RNS coming next week

Hasiba, agreed. An export licence with a 3 year EPO mining permit extension would be good catalysts.