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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.

PREM will of course need to use all 35 billion shares, unless the magical white knight appears.

As per RNS: "These categories represent an aggregate near-term funding requirement of approximately US$13.4 million, based on current estimates and subject to refinement as commissioning progresses and operational conditions evolve. The proposed application of funds includes provision for a test-run period. The budget does not assume that there will be any operating revenues during the commissioning and optimisation phase, and certain supplier payment arrangements do not require immediate settlement of all outstanding amounts."

So unless new funds are found elsewhere, these 35 billion shares will be used to pay for barely half of the aforementioned $13.4 million. These shares will give PREM barely to the end of April. By then the floatation unit will have arrived, will be installed and tested. Whether it will work or not remains to be seen.

But there is a good chance another round of dilution will be required between end of April and end of May if production is unachievable.

Nailed it once again

What was Acker saying? That p0.028 was a steal bargain price? And everyone else saying that non dilutive funds would be found and that no EGM would be called? Again, shows how much you understand projects and finances.

I still see no reason whatsoever to average down, nothing gives me confidence that the plan forward, whatever that is, will unlock sharehokder value. Just false RNSs with broken promises and shareholder value depleted time and time again. I'll still wait on the sidelines while others post AI slop and promises of riches in 2030.

My money is on a call for an EGM between tomorrow and end of Friday 27th Feb

This is good news, GH works in silence and when you least expect it he delivers procurement, installation and commissioning contracts of the float unit. Timeline is a bit tight but it can be done. Funding is up next and I suspect we'll hear more about it by max the end of February. Well played GH.

EPO is long gone, expired in 2024. What PREM have now are variois claims around Zulu. This allows PREM to maintain the core of the project. But as far as exploration across the wider EPO, that is lost for now.

Fell, jist the other day you were posting about how this is a long term hold and how the rise in spodumene price made for a great case for PREM. All that enthusiasm and back and forth with Jag and Ray, evaporated.

Just goes to show how fickle the average investor is. Next will be profitjock, annunaki, hasiba, goldduck and other rocket posters.

I still don't get why he didn't call for an EGM 3 weeks ago. He knew he wanted the float unit, he knew PREM was broke, he knew that he could have used the "enthusiasm" from the longstop extension to raise at a "decent" price. Why drag this out? Just go big and raise 10-20 billion shares at this point. I expect this type of RNS sometime in Feb. The more he waits the more the price languishes.

(Unless he's a genius and he knows something we don't like some magical financier about to step in to provide funds, but let's face it, they would have shouted this from the roof tops if that were the case.)

I haven't bought any shares in nearly 2 years, I am still on the sidelines, I expect another round of dilution before the end of Feb as this last one was peanuts compared to the actual company needs. I'll wait for more reassuring news before I average down and lower my current average by more than half.

50k a month would be epic. Maybe SK meant 50k per year?

Acker, at least we are aligned on the timelines required for the floatation unit to arrive, be installed and configured to be maximised.

Hasiba, in order to get the plant to site and install it and get it fine tuned is 3-4 months. PREM is going to need money between now and then.

Which is clearly not enough left to do what needs to be done like continue to pay Goddard or operating costs. And this is why another raise within the next 4-6 weeks is guaranteed although PREM's headroom must be pretty tight by now.

PREM either uses up the little headroom left and/or find a reputable buyer and/or enter into a JV and/or call for a new general meeting to raise loads of shares and/or find a non dilutive solution like subsidiary funding of Zulu. Producing and selling would be ideal but we know that could be months away, if possible at all.

We'll find out by end of Feb max.

I was 1000% sure more dilution was due and more will come, you are blind if you can't see that. Stick to your courgettes, you are sounding more and more like Snowking.

And so much to all the lost souls on here that were sure NO PLACING would occur as funds would come from elsewhere, goes to show how much understanding you have got.

Wtf, am I the only one to think this is peanuts? If he had the chance to raise at these prices, why not raise 3-5 times that amount?? It's pretty obvious he'll need to go to market again over the next 4-6 weeks. Death by a thousand cuts.

Still no time to lower my average for me, still on the sidelines.

This is pretty good news indeed, the second positive catalyst in a row. But of course to oay Goddard and any new directors joining will require funds, funds the company doesn't have. Highly likely funds raised through heavy dilution, or maybe they know something we don't so it could be a mixed bag, but an RNS by end of Jan to discuss finances is guaranteed. Still stting back observing for now, but good to see another lifeline.

I'm not going to lie, I am really jealous. While we struggle for scraps and trying to stay alive, KOD is releasing the info I wish PREM had been doing since 2023. Imagine where PREM's share price would have been with proper leadership, a proper plan and a proper functioning plant based on an official DFS.

"Kodal Minerals (AIM: KOD), the West African lithium producer, mineral exploration and development company, announces that the Company's maiden shipment of 28,950 tonnes of lithium spodumene concentrate (vessel capacity) has completed loading onto a dedicated bulk cargo vessel at the Port of San Pedro in Côte d'Ivoire. The vessel arrived on 29 November 2025 and the loaded vessel subsequently departed on 30 November 2025 bound for the destination port in Hainan Province, China.

Following completion of loading, our local Mali registered mining company, Les Mines de Lithium de Bougouni ("LMLB") (a subsidiary of Kodal Mining UK Limited ("KMUK") in which Kodal has a 49% shareholding), will submit an invoice for the initial 95% of the cargo value with the offtake partner, Hainan Mining Co. Ltd ("Hainan"). LMLB are subsequently due to receive the first payment from this shipment for a total expected value of c. US$24 million."