Member Info for raaydaar

Snowking, there's zero chance PREM has a market cap in the 100s of millions and PREM producing 4000 tonnes a month any time this year let alone H1.

Only 2 short years ago you were claiming:

"Current mark cap is funny at £75m soon to be £1 billion"

You're getting too far ahead of yourself, slow down and prescribe yourself a dose of reality.

Stan36, 10 monthly payments of $200k plus and additional interest that's accused over the period of the payment plan

Additionally, this raise only "part funds" operating expenses as part of the second float plant installation. Where's the money coming from to fund the rest of the installation costs?

Acker it's difficult to say if the 400k to Goddards is included. The only reference in the RNS is "Secondly, to part fund certain operating expenses at Zulu as part of the installation of the Xinhai Flotation Plant and ongoing creditor management."

One can only assume that "ongoing creditor management" means Goddards, if not then they're in a whole world of trouble by not making the first 400k payment

Acker my post converted £ to $ and all the quoted numbers are I $

Not sure why some people are getting excited about this placing. After costs they've raised approximately $1.25 million.

$400k payment to Goddards leaves $825k in the RNS of 10th December GH informed the market that "Plant Operating Costs including the Secondary conventional floatation plant installation" would be $1,415,500 leaving a shortfall of $590,500. He's then got to find another $200k every month to honour the Goddards agreement and keep paying the other bills.

If GR hadn't left months ago PREM would at least have some cash by now. As crap as he was as CEO, he always managed to get those placings done.

Nobody seems interested in giving GH any money

Nettles, the company isn't generating any revenue, can't access traditional finance so where else is the money coming from other than additional dilution?

Anglebox, that's the question that cannot be answered at the moment. As we know PREM has no cash, finding $400k by the 30th January is most definitely coming from a placing if they can get one away. Then there's the small matter of finding another $200k every month for 10 months.

Oh and don't forget they've still got to pay for, install and commission the secondary float plant that won't be done before the end of Q2 as things stand.

Maybe they're hoping this snippet of news will somehow appear to the market that PREM is worth investing in and they get a bump in SP for a placing. What it actually does now is apply more pressure on the company as Goddards have gone down the "reasonable" route and accepted a payment plan but when PREM default that will turn into asset seizure for all the outstanding amount.

Acker just ask your AI source, I'm sure it will give you an answer that's 40 paragraphs long with irrelevant bullet points you can share here to control the "discussion" and stifle the debate.

For once I find myself in agreement with Wullie.

All of this speculation about future events is nothing more than guesswork.

The ONLY concern shareholders should have is the immediate requirement for funding to pay

A. The debt to Goddards

B. The secondary float unit and associated installation and commissioning costs.

Until A and B are funded then PREM are unable to progress the Zulu project, that funding will have to come through a discounted placing and additionally an EGM to increase headroom in order to have sufficient shares available.

That's all anyone needs to know and consider right now.

Acker, the statement made by Hasiba was that there have been "pivotal changes" there have not, the status quo exists. There have been previous engineering reports done by Enprotec, if anyone would know what needs to be fixed it's Enprotec. Why hasn't this new report been shared? They've had it for months, what will the recommended fixes cost?

All GH has done is changed CEO, all the other issues remain with shareholders remaining uninformed of what's needed, what it will cost and how they'll pay for it along with everything else they need to pay for.

As I've previously stated GH has nothing to lose here, he's inherited a mess, if he sorts it out he's a hero, if he doesn't it was beyond repair and he can walk away without any reputational damage and retire.

The ONLY way forward for PREM is funding and they need a whole load of that. Canmax aren't interested in giving them any more money, in fact they want someone else to take on their prepayment debt. The major trading house haven't offered any funding, traditional lenders won't touch Prem. That leaves shareholder dilution. 4 billion or so available shares raises £1 million after costs, nowhere close to what the company has an immediate requirement for. So the only route is another EGM and a call for further authority. Would another 10 billion shares be enough? Probably not, another 20 billion might be enough if the SP stabilises and doesn't drop further, but then there's the prudent approach to have some in hand just in case, so maybe 30 billion will be enough.

Would shareholders vote in favour of possible future dilution to the tune of 20 or 30 billion more shares? Their investments would be decimated

Hasiba please could you share these pivotal changes in PREM/ZULU since GH appointment?

I assume you consider them to be positive.

All I've seen since GH appointment is an engineering report commissioned, the results and recommendations of which haven't been shared with shareholders, a plant that's been put on care and maintenance, continued accrual of debts and a high court writ issued for the seizure of assets for a single debt that the company cannot service, no ability to raise enough funds to cover the day to day expenses and a plan for a secondary flotation plant that they cannot pay for.

Snowking you've no idea if Gold Duck is telling the truth unless you've been have been dining out with GH.

His previous claims of deals being done in the background have all been rubbish.

30th September "Canmax Glen on course to finalise the agreement at the conclusion of this test run." - Rubbish

20th September "broad strokes of a Canmax/Glen agreement in place (which includes funding ), tantalum offtakers waiting eagerly in the wings." - Rubbish

17th September "Canmax and Glencore are on the same page and an agreement is largely in place." - Rubbish

10th September "Any significant funding will be coming from a GLEN/Canmax agreement, not shareholder dilutuion." - Rubbish

19th August "Tantalum circuit to be in place by end of 2025" - Rubbish

There's plenty more examples but you get the idea.

Gold Duck has no additional information to anyone else and is merely making things up to suggest a light at the end of the tunnel. Sounds very much like Snowking in his ramping days on here and in the telegram group, claims that cost a lot of people a lot of money.

Acker, small dilutions? How much money does PREM need? How does that translate as a percentage of the current market cap?

Acker it's not a weak suggestion that you're trading. If you were investing the spread would not be relevant to your decision to buy shares as you would be holding them for a prolonged period. Only a trader takes account of the spread when looking to buy. You've revealed your hand and might as well just own up and be honest about it.

Acker if you're looking to invest in the medium to long term to achieve your 4p target then why make this statement "Will purchase tomorrow if the spread allows"

The spread only matters to someone who is trading not investing. You've made your position clear and are looking to try and trade your way out of the offside position you've found yourself in with your buying at 0.1p.

Acker, remind me where Canmax process their SC6 into Lithium Hydroxide?

Previous guidance on the secondary flotation unit was 3 months from payment to commissioning. So if he gets the placing away today and the unit ordered it will be early April for commissioning.

Got to raise the funds first and hope Goddards don't lay claim to the cash before they can pay for the unit.

Snowking, I don't recall the company ever stating that they had 1000 tonnes of SC4. Last numbers I remember being quoted were in the region of 350 tonnes and it was contaminated