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Thanks iky.
Would be nice to know what "sampling" means, and also which bore hole that is from.

It's been really quiet for PREM lately, low volumes, low number of posts on this BB and others, low social media chatter...

The fact forthcoming news is late and timelines not respected is not new and we all kind of assumed this would be the case anyways. GR just cannot help himself.

As always the real questions for me are:
-What is the update about?
-How will the market react within 48 hours of the news?

Nothing to do but wait a bit more. I am pretty sure the increase in volume will indicate a leak and therefore that an RNS is on its way.

I bought a pinch last week and may get more if this drops to .26 or below. But I really need PREM to "show us a way" before I commit more pounds.

Come on GR, surprise us all and take us to .5 by Xmas, where we belong!

I bought twice this week, first purchases in 2 months.
New average .239, up 16.55%.
Not bothered if news comes out this week, next or even after that...just patiently waiting.

Yeah, not much to do but wait, even though we should not be surprised if the 2 weeks mentioned by GR are not met by end of next week.
I was also expecting a 20-30% run up to the news but I think the fact that world markets are getting rattled and some investors pulling their money out has a lot to do with this dip.
Was really hoping these .2s were behind us by now....

No clue why it posted twice

Thanks Jenkoo, that is definitely one of our own older rigs. Glad to finally read that all 6 are on the ground and working. Would love to see a map of where all 6 are within Zulu, know their daily capacity etc.

Markets are still bleeding, major sell offs everywhere, PREM is not immune unfortunately....

Thanks Jenkoo, that is definitely one of our own older rigs. Glad to finally read that all 6 are on the ground and working. Would love to see a map of where all 6 are within Zulu, know their daily capacity etc.

Markets are still bleeding, major sell offs everywhere, PREM is not immune unfortunately....

Only 98 mil today, shame for the drop in sp as well. But i put this drop down to overall bad markets, big sell offs pretty much everywhere today.
Hopefully a small reversal tomorrow. Otherwise i'll top up for the first time in 2 months.

235 mil yesterday, 380 mil today....volume is picking up and we are up 11% since the interview.
Hope to close the week at p0.35 and hope we never see the 0.2s again!

50 mil in volume and the first trading hour isn't even finished yet. Yesterday 235 mil all day.
This is good, the word about the interview is spreading, organically is best as Acker says.

Still keeping my enthusiasm at bay though, we've been here before, but this is fantastic!

We have 2 more years to work through the rest of the EPO, in the mean time maybe a pilot plant will be built and Zulu dealt with, both of which should provide some returns to the government by taxes and maybe "brown envelopes".
Maybe even a new investor might pop up in that time frame.
I also read that in Zimb the grand majority of EPOs, which are granted for a 3 year basis, very often get extended for another period, for a max of 3 years.

Sure, we are moving slowly but we drilled more than we expected. Risks of delayes are there but not so worrying yet imo. Suzhou should be lighting a fire under GR and the next 5 months should be very telling.

All very good points everyone.

Bick, i also searched about Arcadia pilot plant costs, could not find anything except the below which includes the pilot plant cost within the overall budget:

"The company has taken this project from exploration through discovery and all the way through to a definitive feasibility study focusing on high certainty and low-risk operational assumptions resulting in the company’s total expenditure including the pilot plant reaching US$18.5 Million."

https://miningzimbabwe.com/prospects-resource-arcadia-mine-commissioned/

That's £14.8mil.

Hey happy,
I agree on the 12 months period. I know GR said news in 2 weeks so I'm going to assume he meant 4.
But I now look forward to hearing about results and if this idea of a pilot mine will be the route decided by all parties.
It got pretty interesting pretty quick.

Thanks iky. This is excellent news. Dr. Luo no longer just on travels but confirned to be on the ground and focused on Zulu.

Quiet day so I did some reading.

The below articles are convincing me that a pilot mine is a very good option to have during a DFS or even in absence of a DFS.

https://im-mining.com/2018/01/28/advantages-pilot-mining-project-development/

https://investingnews.com/daily/resource-investing/base-metals-investing/copper-investing/pilot-mine-production-advances-exploration-cash-flow/

There seems to be a certain criteria that should be met in order for these pilot mines to be financially viable. It seems to me that PREM pretty much ticks all the boxes.

Then I tried to find timeframes and costs of pilot mines. Could not find much.
But I found out that Cornish Metals got a government funding to build a lithium pilot plan in Cornwall that would cost overall £4mil. It took 7 months from design to completion. It has just gone into production and should see an output of 21,000 tonnes of lithium carbonate per year.
However this pilot mine does not only quarry but also refine the lithium, so more advanced than whatever PREM and Suzhou would develop as the refinement of Zulu lithium will be done in China by Yibin Tianyi.

https://www.reuters.com/article/britain-mining-cornishlithium-idINL8N2GE2LR

https://m.miningweekly.com/article/british-lithium-produces-first-carbonate-from-pilot-plant-2022-01-04/rep_id:3861

So, if we don't need a refinery, and considering it is Zimb and not Cornwall, PREM/Suzhou may actually be able to build this for £1-2m perhaps. Might take about 4-6 months roughly (very rough estimates of course).

If PREM and Suzhou decide this is their way forward, and to bring some experts to develop a pilot mine sometime this 2022, personally I would be happy as it sounds like a sensible approach given the knowledge of what Zulu contains. More results and a RUS will confirm and consolidate this even further.

Cool video degrasse, thanks. That is a decent size pilot mine.
I wonder how long it took to build and how much it cost.

I agree Jenkoo, a similar video to this with PREM written all over it is feasible in 12 months.

Prospect Resources sp is up 90% since the sale of Arcadia.....let's go!

Correct....it works like this:

Suzhou TA&A Ultra Clean Technology Co.,LTD. is a China-based company principally engaged in the research, development, production and sale of anti-static ultra-clean products.
Suzhou invests to purchase 50% of all lithium coming out of Zulu.

However, Suzhou is the controlling shareholder of Yibin Tianyi, a lithium hydroxide producer (75%). So Suzhou buys Zulu lithium and gives it to Yibin.

Yibin gives the final product to CATL, the world’s largest electronic vehicle battery producer. They also sell batteries to Tesla.
Yibin operates as a joint venture with CATL.

CATL is also a major shareholder of Yibin.

The chairman of Suzhou (world's 400th richest man), is also the chairman of Yibin and also a major shareholder of CATL.

They keep it in the family.

Yup, that was exactly my point as well. A 70% increase is absolutely feasible.
And i as well, can finally see some type of linear road between now and end of year. It will NEVER be linear with PREM but we got a few catalysts to look out for.
Results and RUS should be next!

Glad you also see the medium and long term potential. I totally get your point of view and frustration, it's been a wild ride for me, I can only imagine you sticking around year after year, watching mcap dropping.
But you of all people should be able to smell a wind of change. If not, keep warning us, every LTH point of view is fundamental to the overall analysis.

Shiny, i knew absolutely nothing of mining, exploration, lithium, batteries etc.
Since buying into PREM 15 months ago, and by reading the numerous discussions and articles posted here, i have now an intermediate knowledge. This bb is more informed and informative than any other board I have seen.

5 million is a good chunck, glad you are sticking around as well, there are still some profits to be made.