Member Info for ProfitBags

I third that, been on this board since July 2021 and my ~700 posts, all 100% on the PREM board, are a testament to a fantastic group of participants, and I include those that some believe are disruptive or negative. The knowledge and opinions shared here have been invaluable to me, especially during my first 11 months with PREM where i just watched my money move sideways and i was unsure of the outcome. The LTHs here are like walking encyclopedias and their support and endless belief have brought their fruits this 2022.

Thanks to all for the friendly and constructive exchanges and a champagne glass raised to an even more successful year!

Yes i very much agree. Good to hear that just today Stockbox did a new interview with GR which I assume will be released soon. And comforting to hear the phrase: "2023 as a company growing year as well as a company producing year".
And yes, from a proj mng point of view, the collaboration between all parties on the ground has been exceptional considering until 9 months ago we just had 5 drills working and about a dozen mt drilled only. Light years from any comparison of the past (Stark is not Afmine, Zulu is ours, fully funded and no govt or indigenous groups staking claims or slowing down progress).
Bring on 2023!

Just released, they speak of 2023 top picks, all interesting but if you just wish to listen to the PREM chat then skip to 10:25

https://www.youtube.com/live/UUazHzztW8M?feature=share

Morning all, hope you had a lovely xmas break.

D&C (great Led Zeppelin song btw) johnny and I mentioned our worries as well. GR in the Sept Stockbox said a RUS would come soon, now in Dec he is saying there won't be one yet as from Mar 2023 the main focus is expanding the resource, not defining it.
If you want to compound the problem you can add that lithium spot prices have been decreasing for the last 6 weeks straight and China EV subsidies are coming to an end this week. Demand may slow down a little bit.

However, it's not all bad:
- Lithium prices are still very high compared to a year ago so still plenty profits to be made
- Compared to RHA we have way more guarantees now, fully funded to production launch and a partner with deep pockets that needs spodumene to be extracted asap
- Forecasts for China EV sales in 2023 are still expected to be strong even with higher costs and lower profit margins
- GR and Suzhou have pretty much confirmed that the pilot plant will be expanded together with the resource which means new ore bodies will be found within the EPO so more drilling and exploration to come. Once the resource is defined, PREM will also have more of it
- PREM has ore sorters so potential new revenue streams to be added to the current spodumene calculations
- I believe GR has somewhat changed, of course he is dancing to the tune of Suzhou, but at least he has resources and guidance that he did not have in the past
- New conference in London in 3 weeks, I am certain clarification on a lot of points will be provided
- Last but not least, how many other junior/AIM miners do you see that will be extracting, ore sorting, stockpiling and directly selling in 2023? The answer to that should provide some comfort

I have zero doubt about PREM getting the pilot plant installed, tested, launched and production started. We may see a few weeks delay due to the size and dependencies of the project but i can't see us getting to end of Q2 and still have not exported anything (that is when Suzhou starts to ask for cash payments in case no spodumene has been exported).

We've been waiting so long for this moment, some for over 8 years. Let's stay patient and positive for another 3-4 months at least :-)

I am with jhonny on this one, all is well, project pretty much on time and plant will expand. Great news and can't wait.

But i am surprised to see him and I are the only ones reacting to the resource upgrade delays. Most of us were praying for a RUS and DFS these past 6 months, touting the benefits and impact it would have. Now you are brushing away the fact it may not even be delivered any time soon as a non issues. Consistency isn't exactly your strong suits.
This delay definitely benefits the chinese and Zimb before it benefits us and potential new investors wanting to play with us.

But like jhonny said, it's all good, still bullish etc etc. Nothing wrong in seeking clarification and stating opinions.

Happy Xmas everyone and all the best to you and your loved ones!

Thanks Alert, good interview.
Just one question, at 11:20 he says the main focus in 2023 will be to "expand the resource as opposed to properly defining what we are going to mine under the pilot plant"....does this mean a further delay to a potential RUS and DFS well into 2023?

I instead, this morning, have gifted myself the last batch of tasty shares for this 2022. New average p0.275, been nurturing it by cost averaging from p0.20 back since March 2021.
I am now well positioned and ready for some Q1-Q2 2023 price action, bring it!

Robrob is right, doesn't affect us. Even Reuters spells it out nice and clearly.

Source:
https://www.reuters.com/article/zimbabwe-mining-lithium/zimbabwe-bans-raw-lithium-exports-to-curb-artisanal-mining-idUKL8N33A4TY

100% modular built with si gle compinents arriving to site from Germany and South Africa. Check out PREM twitter page for pictures and video of these modules arriving and being installed.
A picture below of what the final product will look like:
https://ibb.co/0Jn0yWx

You're definitely not alone Acker, i bought more today and miraculously it went through in 5min, usually takes 3 hours.
At least now we can set aside RUS and DFS talk for a while as we know they are not around the corner. But we can focus on plant parts arriving, installation, dam works to be finished, take the plant for a test run and then commence operations. Fingers crossed the lithium prices stay high for 6 more months at least. And as you say many more projects to keep us interested in 2023-24, just hope those projects don't involve China but the West.

Totally agree steward (by the way i hope you have recovered and feeling better)....the chinese just want spodumene and want it now, they paid for it so expect it asap. They know what's in the ground.
They could care less for a RUS or DFS and this pressure to deliver the pilot mine is evident on GR's thoughts. It's not all bad though, even without a RUS and DFS we still get to sell spodumene so this company can finally become revenue generating in 3-6 months, certainly this will move the sp north.

Cosmo, i don't doubt thay had an effect but:

- lithium prices have been dropping since 15th Nov
- Lithium developers dropped today only off the back of the Fed discussion and some banks downgrading lithium. This happened today, we had already started dropping yesterday.

The postponed DFS and RUS certainly had an impact on this drop.

Having said that, time to buy some tomorrow or next week before the incoming hype of Jan/Feb.

I agree Laverda but i do believe that the main irrational and surreal ramping came from the Telegram group, hence him and Stockbox organising to do that Q&A on the Telegram platform. It was clearly to appease them and manage their unrealistic expectations.

To be frank,i also don't see the issue:
- we already knew it was a pilot plant
- we already knew that it was to compliment a DFS, this was made clear this summer already
- we knew that risk is there, how can there not be with an AIM, juniors, in Africa, in the mining sector
- not very surprising to hear of RUS and DFS postponements

The only thing that did surprise me about that 65 minute Q&A was GR's casual approach to the whole RUS and DFS discussion (and this is why i believe we are seeing a dip these days). I get that he wants to prioritise the plant as the chinese must be on his a$$ daily to hurry and get them their spodumene they were promised. The Chinese could care less about our DFS and RUS. They obviously have a very good idea what's in the ground and just want to extract it and send it back to China asap, the rest is just politics to them. I hope GR releases one, the other or both by end of Q2 2023 now.
Anyhow, besides some minor delays (as per GR), looks like everything is still within scooe, within budget and on time. Bring on 2023!

To be frank,i also don't see the issue:
- we already knew it was a pilot plant
- we already knew that it was to compliment a DFS, this was made clear this summer already
- we knew that risk is there, how can there not be with an AIM, juniors, in Africa, in the mining sector
- not very surprising to hear of RUS and DFS postponements

The only thing that did surprise me about that 65 minute Q&A was GR's casual approach to the whole RUS and DFS discussion (and this is why i believe we are seeing a dip these days). I get that he wants to prioritise the plant as the chinese must be on his a$$ daily to hurry and get them their spodumene they were promised. The Chinese could care less about our DFS and RUS. They obviously have a very good idea what's in the ground and just want to extract it and send it back to China asap, the rest is just politics to them. I hope GR releases one, the other or both by end of Q2 2023 now.
Anyhow, besides some minor delays (as per GR), looks like everything is still within scooe, within budget and on time. Bring on 2023!

Yeah i was pretty surprised by that as well....and when GR was asked if he had any worries with the upcoming elections he simply replied: No.
Seems like our CEO has some strong connections with the higher powers which bodes very well for Zulu, the rest of the EPO and future projects like Li3 as well.
1p by end of Q2 2023 is still my target.

Acker, Happy, 2 drills are still working, both in the DFS/Zulu area, mainly to ease mining.

For those unable to listen in yesterday...

https://www.youtube.com/live/we8T2VQTE7o?feature=share

Thanks to everyone for the updates. Recording from stockbox hasn't been released yet.
Sounds like this was indeed just a general update to appease the daily holders requesting for updates. No major news but lots of positivity around the progress which was expected.
Was anything mentioned around the RUS?

Interesting that GR spoke of buyouts and potential other interest (going by what was reported by happyhols), until now he was firmly locked in with Suzhou. 2023 should be really exciting.

Hhhmmm was really expecting some type of news as well by now, not sure what can be discussed on the Q&A besides general status based on the info we have already. This would make it more of a holding call until further notice. Without news or RNS I expect not too much more than "we are are still on time, within scope and on budget, RUS delayed to next year etc."
Have a great day all and stay warm if you can afford it!