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What got me to jump out my chair is the confirmation that power on the plant gets switched on at the end of next week.
Which means in a few weeks we will hear: "Testing is complete, PREM can now commence operations." And that is when i pop open a champagne bottle!
Then i have other bottles waiting for: full debt repaid, a RUS, end of DFS! Hope it's a boozy 2023 lol!
Acker,Alert and others, we have our reply. All is within time and budget, great news!
Have all lorries crossed the border yet?
A: Yes
- Is all equipment on site already? Seems like there is still some work to do judging by the journalists photos from his site visit yesterday
A: Except for one or two items, for example the compressors and front end crusher, all is on site
- Is hot commissioning still for the 15th Feb? Seems maybe 1-2 weeks delayed.
A: All aspects are coming along as anticipated, power will be on towards the end of next week
- In terms of funds, does PREM have all it takes until launch or would PREM need to raise any last minute funds with investors over the next weeks/months?
A: To date PREM has met all expenditure required to commission the plant to date
Let's go! Next week blast off!!
Obviously Jabulani's interview is 3-4 weeks old. But amazing to hear of doubling the plant in 2-3 years, of the words "lithium beneficiation plant" and hearing the success stories from the local workforce.
Excitement is building up!
Thanks Alert, we saw them being installed via crane yesterday through videos of our resident journalist. At least now we know PREMs' tweet is only 24 hours old.
On a side note, GR with all this community support (roads, schools, irrigation, housing etc) is making PREM and Suzhou look fantastic on the ground. These gestures and relationship building with locals and government officials will be of massive help for future EPO grants, expansions, exploration etc. I hope to see PREM develop into a household name in Zimb and continue its growth across the EPO, open full mines etc....i'd prefer that for the next 2-3 years than a buy out. Come on GR, you got this!
It is starting to become so real! Let's go!
https://www.chronicle.co.zw/insiza-lithium-project-progress-impresses-investor/
GR is away and will be back to the office end of week, i'll get a reply then or next week.
Alert, strange to hear your emails are going unanswered.
Acker, I just wrote to IR asking:
- Have all lorries now crossed the SA border?
- Is all equipment now at site?
- Is hot commissioning 15th Feb or delayed?
- Does PREM have sufficient funds or require placing over the next few weeks/months
Will let you know once I receive a reply.
Was just about to post the same
https://www.herald.co.zw/insiza-lithium-mine-readies-families-relocation-starts/
Well done PREM, helping the local community with housing and irrigation.
That's what I have been saying, some slippage in a project this size is normal and acceptable.
However seems like the 24/7 shifts are over as deemed not necessary anymore. Night shift is cut.
This is a good sign!
https://twitter.com/ChronicleZim/status/1622994843277438985?s=20&t=bC264drEd1akTo8IZpo_mg
Thanks a lot Alert!
Site looks amazing, well done for the progress. Video shows the extent of this pilot plant, looks more like a mini mining operation. Doesn't look quite finished yet (comparing it to the design plans shared by PREM) but i reckon 1-2 weeks away if all parts have crossed the SA border.
This dam was one of my worries but with water present and the wall up to nearly 20 feet, it actually looks close to completion, well done PREM!
Personally i am not surprised at all, I already knew that sp growth would not be linear.
However, this moves fast and when it does it will be unexpected and break the 0.60 resistance.
Taking a wild stab in the dark:
A stable P0.65 by end of Q1
A stable P0.75 by end of Q2
A stable 0.90-1p by end of Q4 highly dependant on RUS, DFS and discussions around future projects within EPO together with EPO grant extension.
Took a screenshot, let's see how far off i will be.
Alert, please keep us updated with the journalists journey as we get more updates from them than from PREM.
Good call s.j.w., an excellent article indeed.
https://ukinvestormagazine.co.uk/premier-african-minerals-ftse-aim-miner-of-2023/
I look forward to the day it reads:
"A total of 345,000 tonnes of processed lithium were produced by PREM so far..." :-)
https://twitter.com/Premafrimin/status/1618976641723555859?s=20&t=Ts3fz9Fe0bQxN_p9EaRPkg
Gents, great job. Always a pleasure to "work" with you.
We are starving for news, let's hope this next RNS satisfies our never ending appetite to be in "the know".
As per Investor Relations, PREM is working on releasing news via RNS as we speak. So i assume it will be released sometime next week.
Fingers crossed for some good updates.
Jenkoo, Alert, I reckon you will get a similar reply.
I believe RR is correct,i would only add that Suzhou, once they receive the spodumene from us, they send it to their lithium hydroxide manufacturer, Yibin Tianyi, whom in turn send the battery grade product to CATL.
Then those batteries end up in Fords, Volvos, Teslas and other chinese ev makers.
And if that pic is actually recent,there is a lot of equipment that still needs to arrive and be built. Either way not much confidence in these tweets anymore.
We are so close to target, i wish GR managed our expectations a tiny bit more.
Wow this image is old....there was way more equipment on the ground when Pei and GR were taking photos together....
Alert, i wrote to Wilna as well, maybe with a two pronged approach we might go somehwere.
Cosmo i totally agree with you, but GR in Sept said the RUS would be close by and now in Dec said it is not part of their plans currently. I doubt PREM will be digging "blind" but to get a whole public update by launch of production seems unlikely now, but again, hopefully you are right. But i assume they have that info, so i bet they rather start production first and allow their findings to compliment a new resource definition and eventually a DFS later down the road.
You say you don't care what Suzhou wants but they are paying for all of this so they can get their spodumene, they are not paying PREM to get their resources updated yet. I assure you GR is dancing to their tune right now, precisely due to the strategy they chose to go for as you outlined. This is not a bad thing, it just is what it is based on corporate strategies.
Risks are still there and silence has not brought many positive developments in the past as steward1 said (anyone remembers LIBS and other wonderful projects that went silent like Lingonia Gold?)...market knows this and are waiting for PREM to prove if we actually have all that spodumene forecasted and promised to Suzhou. We'll only find out after the first batch has gone out.
In the mean time i expect an sp increase between now and actual start of production to at least .65. Also not panicking as I trust what Zulu and EPO contain, we just don't have official company confirmation of this yet.