Member Info for raaydaar

Seagull, Snowking has taken the placing and is being quiet because he has to.

Anvlebox, surely you're not so naive as to not have realised that the pla ing was inevitable, I've been telling you since the last placing that they didn't have enough money. Economic journalists have been telling you since the AGM that they can't raise enough money and will be £5 million short. Surely you did some research

Biglad if it was on it would have been all over social media, safe to say its not

Kenny, for balance i asked AI the last question your AI asked you and got the following:

Premier African Minerals’ largest debt obligation is a multimillion-dollar prepayment facility with its primary offtake partner, Canmax Technologies (formerly Suzhou TA&A Ultra Clean Technology), alongside massive outstanding trade creditors and legacy mining claims. The company has resorted to extensive share placings and debt-to-equity conversions, driving extreme dilution and pushing its total issued share capital to over 39 billion shares

More information for newbies on the dire financial situation

https://www.share-talk.com/from-aim-darling-to-micro-cap-can-premier-african-minerals-recover-2/

EGM call for about 60 billion more shares and another consolidation of 100:1 would be my guess as to what else

Given the plummeting share price looks like the news has leaked he'll be lucky to get the placing away above 0.016 and will use all the available headroom. Will still be £5 million short of what they need and only just enough time to call the EGM for further headroom and consolidation before GR needs to be paid

Not enough to raise the money they need

0.0165

Hiked yet you've only appeared on the forum since 27th March just after the placing. Have you managed to get rid of all your placing shares yet? I'm sure you've done alright out of it and set up nicely for the next raise

Let's see shall we. What the discussion needs is some balance, which clearly cannot be provided unless people like me post. The bulls won't accept the inevitable dilution, until it comes when "we knew it would happen but onwards and upwards" yet they advocate buying at a price 30% higher because the company posted a video of some machinery running and the PREMMINGS bought into it and kept on buying thereby providing the liquidity for those holding billions of placing shares and contractor shares to sell their shares at a profit.

Why would contractors be selling their shares? They're on the ground and know whats going on? Placees I can understand, they just want the peout and they know that the PREMMINGS will buy into any story told by the "new names" who've now moved on to their next share.

It's a sad fact but getting the kleenex out over the rise today will result in using those same kleenex to wipe away the tears come the discounted placing when it comes along with the EGM, 100:1 consolidation and 50 billion more shares request.

More and more pain to come and more kleenex required for tears rather than self pleasure.

Nelly the idiots were the ones buying today and becoming locked in ahead of Mondays discounted placing. The cautious are still sitting on the sidelines waiting for an opportune moment to trade, the sensible won't touch PREM with a barge pole.

Alert, they cannot finance the commissioning of the plant, how on earth do you expect them to finance getting it through all the testing phases and into production without calling an EGM? It's clear Canmax aren't prepared to invest any more money into the project and it's clear Glencore aren't going to convert the Loi Until they can prove production at grade and quantity

They're certainly putting in a shift between them today, gotta love the Premmings providing the liquidity for the placees and creditors to exit their positions at a profit. Those large sells keep on appearing and who'll be left holding at the discounted placing? You guessed it the Premmings who fail to understand exactly whats happening here.

PREM do like to break the bad news on a Friday afternoon.

Acker I'm sure a person of your intellectual capacity understands what the words "the sooner of" mean

What this announcement also does is reduce the available headroom to raise the £5 million they need by another 2.4 billion shares, meaning theyre even further away from being able to meet their own cost projections for the project.

Acker, thats not quite right now is it? The tranches dont vest solely on production, you're again seeing what you want to see not whats actually been stated in the RNS.

Acker what i can point you to in an RNS is how much money the company stated they would need to complete the commissioning process and pay the bills theough to July.

https://www.lse.co.uk/rns/notice-of-agm-zp3sxhalpfks1o3.html

$13.4 (£9.98) million needed.

How much have they raised (or alloted shares for debt) so far?

After costs they've raised (paid in shares) $4.4 (£3.3) million that leaves them needing approximately $9 (£6.7) million current available headroom leaves a big dark hole in those numbers, if GR loan isn't included then that black hole is closer to £7 million that's a mighty big number puts the $200k per month into perspective even if the court allowed 9 payments of $1 and the remaining $2 million plus interest in month 10, PREM still cannot meet its own funding requirements

Acker you know full well that it's not in an RNS but you also know full well that according to the court order once the initial $400k was paid, the remaining $2 million plus interest was to be paid over 10 months, a court would not pass judgement for payments over 10 months of anything other than equal amounts, so it's safe to say that they owe $200k per month (plus interest) over that 10 month period.

Why would he do that? It's not like he's looked after shareholder interests in the past. His "interest free loan" wasn't quite as interest free as shareholders believed and now he's left the business he's going to want to look after himself even more than he did before.

Newbridge, you clearly dont know ow PREM, raised on 26th Mar h, 28th April, 13th May, paid some bills in shares on 20th May.

They need cash and quickly, $200k payment due to Goddards by 31st May, £1.7 million to GR by 21st June and theres the small matter of funding the commissioning works.