Member Info for raaydaar

Got to feel for those mug punters that got spiked in this morning, already down 20% and continuing to fall.

GH gonna have to call that EGM sooner rather than later, they don't have the cash for the February payment to Goddards and that's due in just over 2 weeks.

Haßiba, all the time I stated that they hadn't ordered the float plant, they hadn't ordered the float plant.

GH has pretty much confirmed the timelines for the installation and commissioning to be up ton4 months as I has previously stated.

What he hasn't confirmed is if Goddards have been paid, he has yet to share details of the engineering audit os the plant and any remedial works that are required, nor how they intend to fund ongoing activities at Zulu which by their own admission they cannot afford.

It was in the post EGM Q+A where he said it, I'm sure there's a recording of it out there somewhere on the web

Mugwump, GH has stated that once delivered toʻ site it would take around 3 months to get the second float plant commissioned.

So from order to completion of commissioning it will be about 4 months

Acker there aren't 13 EPO licences, PREM or ZULU hold ZERO EPO LICENCES, the "investor" has provided NO FINANCIAL BACKING.

Therein lies the problem, PREM has zero production, has no EPO licences, has no investment from either Canmax or the third party that refuses to be named.

From actual producers and happy to stump up the cash.

Doesn't bode well for the "Canmax need PREM and the lithium" brigade now does it.

https://pls.com/news-stories/pls-executes-offtake-agreement-with-canmax/

MrMewbie you and everyone else who's checking in to see what's happening should value the negative opinions posted here and judge them alongside those highly positive views, where is ProfitJock these days, has he exited his trade and lost money with his failed rampingvattempt?

Having the ability to see the negative and the positive views allows for you as an onlooker to make a balanced decision on the viability of PREM as an investment opportunity.

There's lots of potential upside here, I'll agree with that, however the initial downside case far outweighs the longer term opportunities and this share has a lot further to fall before any news comes that will result in a prolonged rise in the share price that will see buyers make a return on their investment.

Acker is a well informed investor here and I personally value his views and knowledge on the share but he has made mistakes at setting his buy levels.

There's a lot more bad news to come in the form of EGM and placings and most likely the results of the engineering audit will reveal significant defects with the plant that will require costly rectification.

If I were to be a buyer of PREM shares (and if I were it would be only for a quick in and out trade on news) then I personally see the bottom at around 0.003 but could be as low as 0.001 (if they announce they haven't paid Goddards), all assuming they remain in business.

If I were an onlooker looking to buy then 0.003 would be my entry level but that could change depending on news and market reaction.

I certainly wouldn't be buying now as there's pretty much zero chance of a return on my investment.

Acker, I don't think there's been any sort of smear campaign. The fall in SP is simply down to repeated discounted fundraises, an inability to meet production deadlines, poor financial management, a plant that cannot produce what the company repeatedly claimed it could produce and a massive lack of market confidence due to what can only be described as lies from previous senior management.

GH to his credit has been as honest as he can be with shareholders, but unfortunately he's inherited a legacy company that he's struggling to turn around. He's had to announce the court claim from Goddards that GR kept quiet, he's failed to share details of the engineering audit of the plant theyve now had for several months despite saying he would. He's pretty much used the full headroom available to him to raise funds and that fundraise doesn't come close to meeting the immediate financial needs of the company.

You have openly stated that you believe they potentially need another 50 billion shared headroom going forwards, the market awaits the EGM notice and the associated breakdowns. The market is also awaiting confirmation of the purchase of the second float and confirmation that Goddards have been paid the initial $400k as per the payment arrangement.

The share price has a long way to drop before it could possibly see a rise and it will be a struggle to get to a point where any long term holders will see a return or even anyone buying at these levels will see return.

The ProfitJock and Snowking ramps have failed, the market has woken up to the fact that those "What if" , " NT to buy any volume", "MMs hiding a big buy", "the chart says its going up", " the SC6 price is great and weve got SC4 we can sell" and "Ive had dinner with GR have you?" statements hold no weight. The market wants to know what's happening. Uncertainty creates doubt, doubt creates sellers, sellers create a fall in the share price.

If and its a big if, they paid for the second float plant from the proceeds of the recent raise, GH made it abundantly clear that it would take 30 days for the plant to be delivered, therefore the very very very earliest they could start installing would be 20th February, so you're dreaming if youbthink it' "currently being installed"

I'd suggest that they haven't even paid for it yet so will be a lot longer before it's installed, if indeed it's ever installed given the current financial state of the company.

Hasiba, you've invested a rather large amount of money into PREM, yet statements like "Probably the second float is currently being installed" show exactly how little you know about the company.

If (and it's a big if, they paid for

I agree that EGM call forn50 billion shares plus a few billion to allow Canmax to maintain their % will be big news.

Will ut get shareholder support though that's a potential hefty dilution for shareholders close to 260%. Hardly bringing shareholder value. Will put them close to the number they had before consolidation

"A wise person should have money in their head and not in their heart"

"He who tills his land will have plenty of bread, but he who pursues worthless things lacks sense"

"Foolish spending leads to empty pockets"

"A fools extravagance leads to bankruptcy"

I could go on indefinitely with the quotes.

Acker you know as well as everyone else that buying PREM shares is nothing more than a gamble.

That gamble is on either production being achieved by 30th June 2026 or not.

By your own admission you don't believe production will be achieved by the end of Q2, by your own admission the company needs massive funding and you potentially envisage another 30 to 50 billion more shares to be issued.

If that's the case then how does anyone buying now make any money? Wouldn't it logically be better to wait for the EGM call and the approval for 50 Billion more shares and then wait for the discount and buy after the 30 billion placing at 0.001? When you can get a million shares for a tenner

Alert, you seem to forget that PREM don't have access to that EPO. The shall not be names trading house signed a LOI for potential lithium offtake, they've done site visits and understand the geology but nearly a year after signing that LOI they've not invested a single penny into PREM.

Why? Because they're not interested in supporting a failing company, they want product and they can get it elsewhere if needed through their binding loi with other companies.

A non binding LOI is pretty much worthless and I've no idea why you continue to think it has some value. Maybe yet another Premming dreaming up scenarios where you become millionaires.

Sorry to be the bearer of bad news bt that's not going to happen, in fact you'll likely never see a profit on your investment here.

Lumipat, problem is they need cash to get through the next 4 months and a lot of cash too, there'll be $800k to Goddard plus plant installation costs, plus salaries, plus bills, plus other contractor payments. They're going to need several $million and as things stand they've no facility to raise that money.

An EGM requires 2 weeks notice and the longer they delay the announcement the further the price drops and the more shares they'll need to ask for. As things stand I expect they'll be asking for 25 billion more shares but that really only give them access to about $5 million after costs and the discount, would that be enough? Probably not.

Could well end up asking for 30 or 40 billion more shares to give themselves a fighting chance to get the plant into production.

Jaglith, they haven't yet exceeded their authority there's still 274,583,437 shares left in the Canmax only pot. So not many, they'll have to ask for another couple of billion for the Canmax pot when he calls the EGM for 25 billion more headroom.

Hasiba the issuance of nearly 600 million shares to Canmax DOES dilute shareholders to the tune of nearly 5%.

Why didn't he tag on confirmation that Goddards have been paid and the new float plant ordered?

Anyone for an EGM Call RNS by the end of the week?

Hasiba, you may not care, but uou should, the value of your many truckloads of shares continues to decrease.

Fellwanderer certainly cared and was very supportive of the company on this forum, however they decided enough was enough and exited their position. I'm sure there's many many more considering pressing the sell button. Historically when PREM management go silent, bad news follows. If they wanted to increase shareholder value and the SP then a simple RNS update confirming that the second float plant has been paid for and delivery expected first week of March and confirmation that the first payment has been made to Goddards would put shareholders at ease.

Unfortunately that RNS hasn't been released therefore all that remains is doubt, uncertainty and the market wondering when the next EGM will be called and how much further shareholders can expect to be diluted and at what price.

Acker the only person claiming Goddards have been paid is GoldDuck, yet he cannot provide any evidence to support his statement.

Loyal shareholders such as Fellwanderer are now selling up and moving on. If Goddards had been paid and the second float unit ordered they'd be shouting it from the rooftops.

I'm reminded of Marullus speech in Julius Caesar Act 1 Scene 1

Clearly the management team aren't interested in keeping the market and shareholders updated on what is market sensitive information.

The company raised specifically (for the fourth time) to purchase what they claim will be the final piece of the puzzle to get Zulu into production, and also sufficient funds to make the first payment of an agreement that will stop Goddards seizing plant and machinery. Yet they haven't confirmed these things have happened.

Then there's the audit report shareholders were assured would be shared, they've had that report for months and still nothing.

The new broom that is GH does not seem to sweep clean.

If you think that was a buy you clearly need your head examined