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"Premier has the general authority to issue shares on a pre-emptive basis such as an open offer or rights issue. "

Sharebel, we have 4 billion shares pending over our heads, no idea whem we can produce, how much and at what grade. No money in the coffers and higher risks of bad negotiations. Focusing on what GR says to Stockbox and how much he buys is useless. He bought at .90 as well right? How did that go? There is a huge difference between what you hope and expect to happen and what will actually happen. And as a project manager I know risk management and delays pretty well.

Steward, you may recall I have been saying I would have prefered a western partner, the Chinese trying to take advantage now of our weaker position is exactly how the operate. But glad that GR is fighting our corner at least.

Again, until we know what the costs will be for us, when all this mess will get resolved and what grades we hold, it is pointless to buy more. I'll wait for the drop due to further delays and dilution before i buy more.

Very disappointing. We have so many unknowns now. And to think a lot of people kept saying that the project was derisked. Well, now the risk has increased by 5x.

16 weeks for the mills to be sorted. And in the mean time we don't know:

How much are new negotiations going to cost us?

What grades do we have in those bags?

How much dilution will we see?

Can the plant actually do what it said it was going to do?

How long will it ACTUALLY take for us to resolve the above and actually become profitable?

All my expectations for Q3-Q4 are out the window, moved all my goal posts to 2024. Still have not sold but I won't be buying more that's for sure.

Bl00dy AIM......

Johnny, here we go with the leaks right? Looking positive so far, should be decent news soon.

That is literally the only reason why i went for PREM and not KOD 2 years ago, the jurisdiction. I do envy the fact they have a DFS but the fact their president is actually a Colonel always in military uniform scared me.

If this is recent, looks like the plant optimisation is going ahead full speed. Excellent news. All we need to know now is what grades are those cakes.

I would love to hear that "the onsite lab has commenced operations and the tests conducted confirm a high grade of SC6".

Come on GR, give us the good news, the LTHs are faithfully waiting 👍

Dukey i don't have such message on T212? Can you still see it from your side? It does raise a good point, T212 is dodgy and I need to skim off the top next rise as I cannot trust that they can pay me in full. Opened a new ISA with HL, no clown foolery there, just expensive.

This board has become terrible in the past 2 months. Arguing and attacking one another like on Stocktwits. Luckily i need very little DD nowadays so don't need to read daily or ask questions but I feel sorry for those who are actually looking for support and information.

Not as happy as everyone else seems to be about this RNS, market seems to be agreeing.

Pineapple, RUS for Zulu only should be out soon as per GR. We'll find out quality finally!

Https://youtu.be/cmNetdLdE0s

Iky, the main worries are for clean and violent free elections. I think the country could use a change of pace and a new face. The opponent, Nelson Chamisa, is 45 and very much in favour of the use of natural resources to boost economy, developing a greener energy sector and opening discussions with the USA to repay back some of the debt. Let's see if these are just electoral promises or not but it doesn't seem like the national mining industry will be negatively affected.

Excellent surface results

72 samples sent for analysis in April

Highest grade returned in initial phase is 4.14% Lithium Oxide ("Li2O") from the Nels Luck group of licenses

This side project could come in very handy 👍

Oh and he was asked if he is related to someone that has been shorting the stock 🤣🤣

And when asked if he had a succession plan (great q whomever made that) he said he has plenty of capable people around him. He would not eventually disappear but step aside and still collaborate with PREM. Not in the near term though.

JG, the zoom call had the red REC symbol on. I am sure Stockbox has a copy and will release it soon.

Johnny, no mention whether a new partner would also buy the shares.

He also mentioned: mining licence for the extended EPO has been submitted, waiting for updates. Opening ceremony still to happen, President invited. An independent expert was invited to consult on the cash flow situation. Gross revenue is $16 million by December. Dilution as a last resort, requires AGM, 21 day notice, but it his within his management tools to invoke. 34 tonne trucks will carry spodumene to Durban, storage facility ready. The 50% JV in Li3 is a potential source of revenue if sold. Potential gold JV within the area, geologists exploring viability, assay results outstanding.

So much to take in, so many valid questions and some plausible answers, others wishy washy.

Main things that stuck with me were:

- Lab still not ready (should be completed this next Wed) and no idea of the current grades on the 200 something tonnes of spodumene currently stocked

- Dilution ahead more likely to happen than not

- Should Canmax want to stick around, they will more likely provide a further loan. Otherwise they invoke the 90 day clause and potentially sell shares. However, there are multiple european and 1 american company willing to participate and/or step in. Some may even wish to pay off Canmax and step in as replacement

- Stark messed up and are fully paying for the upgrades required

Mixed feelings but not nearly enough to make me want to sell yet. I am somewhat reassured on some points but let's see how this plays out next week.

Agreed Acker, so many new and highly opinionated noobs on this BB recently, telling others what they should think and feel. Some will have to learn the waya of PREM and GR the harder way.

Jaguar i was also co sidering this, GR mentioned that there is a marlet for petalite. If we are using the ore sorters, why not sell some petalite or other ores in the mean time to boost revenue?

Then again, we don't even know if the sorters and lab are fully functioning yet.

Hahaha poor you mate, you get attacked on a weekly basis. You're a patient chap.

In the mean time we start to get these articles now, well done GR 🫤

https://www.dhakatribune.com/financial-markets/2023/05/25/premier-african-minerals-drops-18-because-prem-might-go-bust

The only one that believes the rhetoric is Tony, he even thinks full production in Sept.

Will GR even share results? He's been putting spodumene through the sorters for 3-4 weeks now, not even a hint on quality yet, and the lab is on site. I actually want to see GR squirm under the queries from Stockbox. I better be quiet actually or I'll come across as a deramper instead of just a disappointed investor.

Totally agree on all points Alert, good post.

Exactly Jenkoo. And thanks for the reply on the numbers, grest post. Agree with you and Acker on a potential Zulu sale as a "get out of jail free" card.