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I agree with the want from Suzhou to extend exclusivity, they will want to ring fence all of Zulu imo. Once secured and plant running, i can see them make an offer for all of Zulu.

Not sure i'll stick around if PREM becomes chinese.....

Unfortunately in the stockbox interview he said that it is actually a higher number than 2000. That was the only part i did not like.

Hi Jenkoo, from end of June RNS:

"Zulu Lithium Private Limited ("Zulu") and Zulu Lithium Mauritius Limited ("Zulu Lithium") will provide Suzhou TA&A with security over all existing assets including all the mining claims, and all other assets, company shares and inventory including SC6. To the extent that above security fails to cover any outstanding amounts under the Pre-Payment Amount, Premier has agreed to cover this shortfall by way of a cross company guarantee.

Repayment through invoices raised by Suzhou TA&A for shipped SC6 should commence no later than 31 March 2023 at a minimum rate of 4,000 tonne per month on a rolling average basis following first Concentrate Production ("Supply Commencement Date"). If the Supply Commencement Date does not occur by 31 March 2023 or there is a substantive delay in the subsequent supply of SC6, then Premier shall pay interest to Suzhou TA&A at a reasonable interest rate that represents Suzhou TA&A's actual funding cost for the delay. If the Supply Commencement Date does not occur on or before 30 May 2023, then Suzhou TA&A may terminate and seek repayment of the Pre-Payment Amount."

Next RNS should tell us that the rest of the $35mil investment is in the bank and outline interest fees and liabilities in case of delays. Exercising against securities will also be outlined i assume, ie. giving away more shares of the company or other forms of repayment etc.

Hi Roman, totally agree, some delays with a project of this complexity will be normal. Fed launch seems overly ambitious but as Acker reminds us, there are many parties involved in this project and they all want to get paid.
So Feb launch = unbelievable, March = well done, Apr = ok fair enough, May = what is going on here, June and beyond = someone messed up bad.

Hey Jenkoo, as per GR's words from June's stockbox:
" If nothing has been shipped by the end of May, then a notice period could kick in and there could potentially be an exercise against securities if the decision were for the operations to not go ahead"
And yes you are right, fees and interest rates have not been divulged yet. I assume next weeks RNS will outline all this.

Yeah i noticed that too, he let it slip out. Agreement RNS is literally aroubd the corner.
Doubt it will do anything to the SP but let's see.

Good interview yesterday. All I heard was: progress ongoing, everything on time and on budget. A project manager's dream scenario.

Steward you make a good point about anticipating completion of a project at such early stages, amateur mistake. Hopefully things continue smoothly with not too much scope creep.

Not worried about the future at all, co fident this plant will be good for us, all I want is a stable p0.5-0.6 by Xmas. It's a 75-100% increase from here. I am sure EPO news, project completion and a RUS will support the sp increase.

Indeed, i can envision a sale of Zulu next summer as well.
Not in favour of a full sale of PREM though, hope GR has some sense to continue across the EPO, find another Zulu, rinse and repeat.

Yeah i suppose the timeline of progress to pay back and free itself from the agreement is the risk factor here.
Agreed below .30 is a great price to buy. Don't see this doing much this summer but things should change in the fall.

https://www.asktraders.com/analysis/premier-african-minerals-prem-share-price-unmoved-on-assay-results/

This trader says: "The plant will produce SC6 starting in Q1 2023, yet PREM shares have fallen 16.35% in the past month despite this positive development. Investors seem wary of the deal that could hurt the Zulu mine’s long-term profitability."

Is he implying that Suzhou has a negative effect on PREM? That we are giving away too much for too little? Any ideas?

Results slowly trickling in, decent numbers of all major elements, further progress made to nearly 25,000m drilled, ground works that were scheduled to be completed by end of July are on track for completion, the offtake agreement is nearly finalised, lithium prices still high.....considering also the parts missing that steward mentioned, i'd still say this is good news and steady progress.

Good points Bick, I remember you saying that already last year that DFS deadline would not be respected due to the slow drilling progress.

Bick do you know how many metres have been released through assay results thus far? Is there a way to calculate this through the released RNSs?

I "unfortunately" agree with you johnny, i am not expecting DFS completion this 2022 (hope I am wrong of course).

If I am not mistaken GR, a couple of times already, alluded to the fact that the plant production (digging, extracting, sorting, testing, classifying) would be complimenting the overall DFS.
The more the pilot plant and the extra rigs drill, the more indicated and measured mineral resource PREM can achieve, therefore the more of a definitive picture they can have of the area. Only then they will know if Zulu is suitable as a basis for detailed design and construction for a proper mine and plant.
It could also be that PREM is delaying it as it intends to sell all of Zulu to Suzhou at some point, similar to the delays of the assay results (no way Suzhou would have put $34mil up front without having knowledge of most of the assay results).

Hey Jenkoo, yeah that would be really unlucky.
But a negative cycle might last 1 year or so and even if it happens, by the time PREM comes out the other side, it will be in a more advantageous position due to its positioning in the market, being vertically integrated in spodumene sales and all.
Some slow movements "pains" in the short and mid term perhaps, hopefully only gains in the long term.
Have a great weekend all!

Commoditiy prices are all dropping this July.
As these are cyclical and tend to drop during economic downturns, i wonder if we are experiencing just a correction or a complete reversal of this cycle that has been bullish until now.
Fingers crossed it's the former and not the latter cause the timing is almost comical for a company and investors that have been waiting ages for developments, production and profitability.
Fingers crossed!

Hi Bick, true.
It would be more appropriate to state that, given the dependency from PREM on what we get too see as samples, 1.56% is the average grade of these chosen samples. As you say these represent a grade within a specific section of the bore hole at a specific length.
We don't know the actual size and quantity of the rest of the strike zone so in no way the 1.56% is the average of all of Zulu lithium.

My primitive calculation is more of an indication than fact. The RUS, after the MRE, will never state such high grades.

What you guys say makes sense, this week most lithium companies, aside from Pilbara, are down between 3% and 15%.
At least Li prices for now seem stable.

I'm going to sit back for a bit until sp reacts. Will either accumulate more or sit on my hands for now.

Tantalum breakdown:
59 samples between last 2 RNSs:
Highest 243
Lowest 14
Average tantalum grade across 59 samples: 81.34 Ta2O5 ppm

Tantalum is sold at roughly $150 per kilo!

However these are not fantastic results, Australia is also mining and selling it, and their results range between 200ppm and 400ppm.
We can still make a profit with it imo but quality is not above average.

Very good RNS.

Lithium breakdown:
6 bore holes
23 samples
Highest 2.35%
Lowest 0.82%
Average of 23 samples 1.56% Li2o
(Previous RNS average 1.59% Li2o)

The above are fantastic results. Previous bore hole results that have been revisited have all improved in percentage.

Rubidium breakdown:
6 bore holes
23 samples
Highest 5572
Lowest 17
Average of 23 samples: 1709 rbpm

We now have 97 rubidium samples with an average of 2236 rbpm which is also fantastic.

Zulu is certainly rich! Let's go!!

These interviews, and the content, keep getting better and better with time.
Glad to hear TO not anytime soon, makes complete sense to first understand what one can deliver before making a self value assessment.

I wish we could hear more about the rest of the EPO and its strategy though.
For example, why are we cutting 50% of our drills moving forward? Could we not use all 6 to continue EPO exploration?

Glad the dam was discussed but, besides potential delays on machinery arriving and installation, I see this as a major risk and dependencies. The dam is mainly within the government remit, with all legal and environmental processes attached. Also, the timeline for completion is Feb 23 so that is really tight.

It is still a bit mind blowing that the sp, despite these mature discussions and operational progress on the ground, is still not reacting.

Thanks Welshy.
I wish some took notes during the meeting, seems like a lot of self interpretation and broken telephone game going on.
Hopefully this delayed stockbox interview will clear most of this up.

Good presentation, i can see why people felt it was a positive meeting.
Just bought another 300k shares (whenever they go through on T212) so still bullish.
Steward and Daz make some good points though, market reaction is disappointing, as if, even with all this new detail and operational development, there is still lack of belief in the project and perhaps the quality/quantity of lithium. Maybe lack of faith in GR.
I do wonder how this info of a takeover may be impacting the price as well.

Is Brendan Roach GR's son? What happened to Chris Male the geologist? Did they bury him in a pit with his LIBS system?

Come on Mark, drop this Stockbox already.