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"For those moaning about issuing 3 billion shares at a 30% premium , I suggest shares are not for you and you should sell and let us long term holders by them cheaply"

SK take a step back please, you are being very passive aggressive and rude.
If you don't agree with other investor's legit doubts and questions on this board, no need to reply and be condescending telling them to sell and move on.
It cannot be all positive to fit whatever agenda you got.
Most respect your agenda and stay quiet or debate politely, you go on the attack when anything different from your opinion pops up.

I've been bullish from the start, now that i am a little less enthusiastic, you cannot force your programne down my throat, this isn't the USSR.

Oh, and last but not least:
- Why hasn't the market cared for this deal?

I keep going round and round on the same topics:
- Why sell 13% of the company?
- Why add 3 freaking billion shares to an already huge float?
- With 13-14 interested parties, why choose the one who's primary market is anti static cleaning and sanitation products?
- Why add another board member whom will now probably decide our future across 2022?
- Why go for a company that tends to takeover?
- Why raise £12mil when everybody knows that PREM's only successful venture so far is Zulu and the EPO and all that is needed is only £6-7 million?
- Why did GR not lay out a plan of how the rest of the investment will be spent?

I am not deramping, i am happy we have a decent investment that will speed up our drilling programme, but the above leaves me with a weird gut feeling, a bit of sour taste in my mouth.
Can't seem to see it as a major win. At best a glass half full type of scenario. Plus the lack of a programme and plan from GR during the last interview did not qualm my worries.
I hope time will prove my doubts wrong.

Can we get to 1p first? 1p is achievable and yet we have not been there since 22nd April 2016!

That's actually a great idea and a standard practice of project management. Would be very surprised if we get one though.

Not going to lie, been asking myself how and why Suzhou TA&A Ultra Clean Technology, a China-based company principally engaged in the research, development, production and sale of anti-static ultra-clean products, gets involved in lithium mining.

According to the below link and offtake deal with Global Lithium Resources , "Suzhou TA&A Ultra Clean Technology may increase the quantity of the product up to an additional 15% in each contract year, subject to agreement with Global Lithium Resources."

https://www.tradingview.com/news/mtnewswires.com:20220304:G2104052:0-global-lithium-resources-enters-spodumene-offtake-deal-with-suzhou-ta-a-ultra-clean-technology/

So yes, when dealing with them, we may be giving them a hand but they may be taking the entire arm.

PREM sitting at the big boy table now, if this is a sign to come, our timelines will hopefully, and finally, be respected for once.
Let's go Zulu!

Hi Altag, thanks for that. I suppose the clause that stipulates that their offtake amount is proportionate to their holding % makes more sense now. Cheers

Haha funny, we got confirmation of receipt just a few minutes after my post.
Thank you, I am on good old paracetamol, lemsip and strepsils. Getting better now. Will start with Vit C, D and Zinc this weekend. Cheers though

Morning Watcher,
The subscription with Suzhou was signed on the 7th March apparently and by 5 business days they were to pay PREM £1.2mil deposit, which should mean we will receive it on the 14th or 15th.

As you say, more results are also overdue from the South Africa and German labs.
Not sure which piece of news will come first but I assume by Friday 18th we will have heard about either one or both.

I also just realised that our investment received is in pounds and not dollars which is better (in bed with covid so not very clear minded lately hehehe).

Acker, 13% of PREM was bought by Suzhou TA&A, whom "is the largest investor (75 per cent holding) in lithium hydroxide producer Yibin Tianyi Lithium Industry Co., Ltd., together with China's largest EV battery manufacturer Contemporary Amperex Technology." (As per RNS)
CATL produces both lithium and sodium batteries. They apparently need rubidium for these batteries as per January 2022 Bloomberg article. Snippit below.

https://ibb.co/Mc2vTdg

We might come full circle and our new investor may want it all.

SK that would be ideal, an organic rise is what we need, these huge spikes only cause frustration.
The presence of a major at our table and cash in our pockets should stabilise the SP moving forward.
Rightfully so, as mentioned by most of you, risk has been greatly lowered which means this AIM stock is a tiny bit less "AIM-ish" if you know what i mean.

Do we think that the 3 billion shares, once added to our float, will lower the SP though?

Acker, i was close to my first grey hair, luckily the rise above .25 has salvaged the situation so no need for hair colour for men yet.

SK, i agree, i remain positive, i just was not expecting to wait 6-9 more months.
I see JG is very positive about all this as well which is fairly reassuring.

Thank you all, some great replies and fairly comforting.
I've been with PREM for exactly 12 months now, i did 9 months of watching the SP move sideways, i can do another 6-9 months alongside a major and with $12mil in our pockets whilst standing on my head.

Might have to revise my goal of blasting off in Q2 to Q3-Q4 though :-)

I must admit i don't fully understand this last RNS. My preferences would have been others but my wishes are neither here nor there.
There are some great positives:
- We retain ownership of Zulu and EPO
- We get a major to fund us and help us speed up the DFS programme which is what we always wanted
- We have enough cash to not require any more placings
- We get $1.2mil just for sitting at the table
- Offtake agreement proportionate to Suzhou holding which is clever

But here are my worries and lack of understanding:
- 3 billion shares??? Seriously?? I almost chocked when i read it, this is not a small placing, as if 19,2 billion shares were not enough already
- GR admitted he may need half of that investment to complete the DFS. The fear of him going off into the candy shop and spending all the money again is real
- Are we risking of being blocked for any new investments for the next 6 months? Sounds like Suzhou has a huge say over our immediate future. But this is the part i am most confused about. Is this part of the agreement a common thing? Sounds odd but I lack experience here.

Overall I am happy, it's mostly good news, we will still get to 1p (maybe not as quick as i hoped though) and i will continue to add mini bites at the time to my position.

Hi johnny,
You are right, volume is slow, it was 250mil last Thursday, 480mil last Friday, 330mil yesterday, only 90 mil so far today, i assume with no news we will reach max 300mil today.

We know how the PREM drift works unfortunately, but this time around, as steward says, the drift and silence may actually be a very good sign. I usually "bite my nails" during these drifts, this time around I am kicking back and relaxed as I am confident amazing things are coming our way. Have no clue to exactly when but i think we are only a few days or weeks away :-)

Hi iky,
I suppose there isn't much more to say that hasn't been already said 100 times.
We're at the mercy of the PREM communications, we all know that more results, a RUS and maybe news of a jv should be dropping anyday (perhaps sprinkled with other side project updates) so not much to do until then. Just got to wait.

Best to keep accumulating if possible during this first quarter because, as i've been saying since Dec, Q2 we should be blasting off.

Have a good day all.

Hi Progress101, good point, i only did a quantitative assessment.

In terms of quality, the last resource upgrade by Arcadia showed a 1.22% Li2O.

Between September 2016 and February 2017, PREM published a Maiden SAMREC compliant Inferred Mineral Resource Estimate of 20.1 million tonnes grading 1.06% Li2O.
However, as of Feb 2022, drilling activity on the southern part of the project area returned intersections including 21 m grading 1.23% Li2O and 20.7 m grading 1.44% Li2O.

You are right, it keeps getting better. More verified results and a new RUS will make investors jump out their seat!

You've got to love this board!
Acker, degrasse, Infinity8, fantastic attention to detail and research.

RIO is a "newbie"in lithium and was just recently starting to make big moves into that sector.
They currently only produce lithium carbonate from waste hard rock at their California mine.

With the Serbian Jadar project, that fell through the cracks, they would have spent $2.4 billion for 58,000 metric tons of lithium carbonate per year (hard rock). Source: S&P global https://ibb.co/3vS7KZW

Recently Rio Tinto has entered into a binding agreement to acquire the Rincon lithium project in Argentina from Rincon Mining. $825 million for 100,000 metric tons of lithium carbonate per year (brine). Source: FT https://ibb.co/F3yY28j

(Worth noting that lithium hard rock mining is much more expensive than lithium brine)

So, knowing that the Arcadia project aims to process 265,000 metric tons (hard rock) per year and were bought at $422 million (Source: China Daily https://ibb.co/PZdGL2q ) , and knowing that Zulu and the EPO is estimated to be sitting on top of half a billion tons of lithium carbonate equivalent, how many metric tons could Zulu and the EPO produce per year?! And how much could we be offered in comparison?!

Anyone else's head spinning and mouth salivating? :-)

Working with RT would be a dream!

Did a small research on Shango Solutions, unfortunately i could not find anywhere that explained or showcased the time frames they take to release independent consulting reports when providing resource updates.
But i realised PREM had already worked with them on RHA last August.
Besides working with multiple other junior miners and explorers, their website showcases some pretty big clients:
https://ibb.co/JzDzwnN
I also read multiple articles that highlighted that their reports seem to often identify higher resource levels than previously thought. Encouraging.