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Suzhou 6 months ago closed a 10 year offtake agreement with Global Lithium (AUS).
Last week Global Lithium and SK On, large South Korean lithium-ion battery cell maker, signed a 2 year non binding agreement to supply lithium.
Global Lithium share price is up 98% ytd.

Seeing how some sectors are desperate for lithium and mines, I could potentially see a car or battery maker directly approach PREM in the future.

https://www.miningnews.net/energy-minerals-news/news/1440464/global-lithium-signs-mou-with-korean-battery-maker

As we know, Suzhou will be giving us the $34.6mil in installments.

RNS March 11 PREM received £1.2mil non refundable.
RNS August 3 PREM receives approximately US$18.1 million of the pre-payment required to have been paid to date.

However today's RNS states: "In August, the Company concluded the definitive transaction documents in respect of the Marketing and Pre-Payment Agreement with Suzhou TA&A Ultra Clean Technology Co. Ltd to provide a pre-payment against future sales invoices in the amount of US$34,644,385 to enable the construction and commissioning of a large-scale pilot plant at Zulu. To date Premier has received approximately $24 million of this pre-payment."

Am I missing a step? When did we receive the other approximate $5mil?

Yes not bad, agreed with Cosmo that it could have been more detailed, this was a very high level and generic overview. The rest is good news though and at least on paper, seems we are on time.
35,000mt drilled is a good step since this summer.
RUS by December i assume.
Not sure this info will do any good to the sp though.
Have a great weekend all!

Thanks Bick, makes sense, cheers.

Hi Alert,
That was my understanfing as well, dam completed in Q1 2023. However i was asking Bick on the timeline as he mentioned it would take only 6 weeks to build, hence my confusion.

Bick, in the interview of a couple of months ago GR said the dam would be completed by January. Do you reckon they advanced this piece of the project on the timeline or is there much more time required from build to actual functionality of the dam?

What a coincidence! Great update from Jabulani, we need more of these progress videos. Thanks for sharing Jenkoo.
Investor Relations says there are no major updates to be provided by GR yet but they are working on something and will revert back when ready to be released. I assume an interview and/or RNS....maybe even a drive through video as suggested by others.

Yeah, it's those aspects not within PREMs' control that worry me the most. Not much we can do about those.
We may even have delays in Q1 but we will be in production at some point and the sp will reflect this progress so not worried on what PREM can actually control.
Would be nice to get some more frequent project progress updates though, the tweets are generic and we're being left a little in the dark over here....

Yup Acker, I will add the lithium coming out of Li3 as well to the list. All looming good on paper for now, can't wait till production!

Bick has apoint about "only 10mt" so a RUS may not have an immediate positive impact but a new RUS will go a long way into future negotiations imo as SK says.
Acker your 1p by end of year is really ambitious, i would gladly take just over half of that by then.

Bick, don't you also see this as a huge upside for PREM's future? This is pretty massive to be honest. I remember Acker posting about this multiple times last year. If they can deal with tantalum and rubidium as well we are golden! $$$
https://www.mining-technology.com/news/chinese-metals-park-zimbabwe/

Stars seem to be aligning, all in our favour. Lots of good news lately, both in Zimb and internationally. Hopefully this actually equates into some profits for PREM and for our pockets.
Roll on October and a RUS, a progress update and more assay results!

What you see on the LSE feed is never correct.
The outflow today is definitely greater than the inflow. Webull is more reliable than the LSE.
https://ibb.co/VLCxtR3

Where are those September investors some were mentioning would arrive? With risk of further market crashes I suspect people are less likely to be parted from their money, especially on AIM. Most people I know are rotating to dividend paying stocks this period.
One positive thing though, the sp has stayed above .31 for 5 weeks now, hopefully that's the end of the 0.2s.
Looking forward to a RUS, the only thing I can see that might boost the situation a bit between now and December.
A stable 0.5-0.6 by Xmas is still my target.
Have a great long weekend everyone!

I asked them to expand on question 1 and they confirm that GR has an unwritten courtesy agreement with Suzhou to continue the right of first refusal even after the 180 day period coming to an end.

I would be very surprised at this point to hear of any new investors anytime soon.

Hi Acker, from investor relations:

Q: Will this agreement be extended so Suzhou can keep having first refusal rights?
A: As a matter of courtesy George indicated that he would afford Suzhou a right to first refusal.

Q: Is PREM now available to negotiate with other interested parties for the rest of Zulu and EPO?
A: Yes, PREM is, but having said that PREM would have to consider any unsolicited offers.

Q: Does PREM intend to work/sign agreements with other investors besides Suzhou between now and Q1 2023 production?
A: No,  but the door is always open

You guys are firing off numbers like it's Bingo.
I'd be extremely happy with a stable p0.5-0.6 by Xmas, and even that is not a given imo.

Have a good weekend all and r.i.p. to one of the greatest monarchs this world has seen. End of an era, a new one to begin.

GR would have to be sitting on quick and cheap solutions to RHA or MNH otherwise it makes no sense from a resource, cost and timeline point of view. Zulu is definitely the potential priority cash cow to be progressed, that revenue can then be streamlined for other projects down the line.

If we really must speak of side projects progress, I would be more inclined to further develop the Li3 project as it is linked to what Zulu is doing.
And even Circum, where the prices of potash have hit record highs this year and main producers are cut off economically. Sadly this nasty civil war is still ongoing.

Somewhat related, anyone think we will see the .2s again? I was really hoping to leave those behind.

As communicated via email:
"PREM will export via road or rail and the decision lies with the logistics operator. Both options are available to us." (When asked about transportation to ports)

"We have studied all the aspects of the logistics in detail and are comfortable."
(When asked abouts costs, risks, dependencies and timeline)

"These have been identified and there are various options – Durban in SA, Beira or Maputo.  All are available and the most cost-effective route will be used." (When asked about choice of ports)

Acker, I was told the same, PREM indicated that the payment is a contractual agreement with a fixed payment schedule with specific dates.

Not sure if these changes in methodology require RNS communication though? sounds like it should be good practice.

Cherry, thanks for the calm and constructive reply. You are 100% right, the situation is so bad in some cases it has become cheaper to mine a mineral rather than export it.

However there have been past investments and agreements between Zimb, Mozambique, Zambia and SA to enhance specific rail lines.
Example: https://zitamar.com/mozambique-railways-sign-million-tonne-transport-deal-zimbabwe-miner/

There have also recently been renewals of some of these agreements with higher tax levys on lithium and other goods as also to finance repairs on infrastructure. Like I said last week, Zimb wants and needs to wet their beak first.
Source: https://mobile.twitter.com/MinistryofTID/status/1530577181696565249
Source: https://www.bloomberg.com/news/articles/2022-07-28/zimbabwe-will-raise-taxes-on-platinum-lithium-to-boost-revenue

Some companies are using specialised private services to transport minerals nationally and internationally like Whelson GDC or Bulwark Swift.

So in the midst of these difficulties, i raised these worries of costs and timeline to PREM Investor Relations. As soon as i get a reply, with hopefully some understanding, i'll get back to you.

Cherry not sure what your emotional and psychological problem is but how does any mineral or good leave landlocked countries? Or are you impliying that landlocked countries do zero trade because of poor rail systems? Chill out and maybe check your attitude before posting