Member Info for raaydaar

Mugwump the only brain dead here are people like you who live in a deluded world where you create bizarre scenarios in your mind where you think Zulu is expected to be in full production before the end of 2025, or that GH won't place the full 5 billion shares.

It's risibleand quite entertaining to see your vain attempts to promote the company when it's clear and obvious from every RNS and interview that there will be no production,at a grade and quantity that will satisfy Glencore tonthe extent that they will commit to a firm agreement, this side of Easter 2026 and that alone would require additional dilutive fundraising over and above the 5 billion they're asking for right now and given the discount raise ahead and subsequent deop in price we could be looking at an additional 10 billion more required to get sufficient funds to attempt to get the plant producing. Anyone buying or holding now are the "braindead" it's a ridiculous strategy to buy PREM shares in the full knowledge, having been told by the company, that there will be a large fundraise. You're looking at a minimum 50% drop in the value of any shares you bought today and that will require a 100% rise just to get your money back.

The market clearly agrees there's bad news ahead hence the pathetic volumes. Pointless averaging down as you're just buying more worthless shares.

If you truly believe that this can turn around you're better off selling now, saving the cash you would be buying extra with and buying back on the day of the placing, you'll get 30% or more shares for the same money and if by some miracle GH turns it around (which I doubt) then you'll make more money.

Acker, you're expecting 1 or 2 more dilutions this year. Each will be at a discount to the prevailing SP at the time, usually 30% but given the current situation could be more. Why then are you advocating retail buy now believing that those buys will result in a significant loss on those purchases?

It makes no sense to buy now, knowing that there'll be at least 1 discounted placing in a week's time. Only the unresearched, uneducated or just plain daft would be buying PREM right now.

The market has clearly understood the nature of the last RNS and the woeful volume is clearly indicative of the sentiment. This is now simply a risk vs reward play for the traders, lth are screwed and will never see their money back unless they take the massive risk of averaging down, but even then at best, for the majority they'll get their money back but only those that hold smaller amounts, larger holders of say 30, 40 million or more will likely never see a return on their money and should (if common sense prevails) exit their positions and cut their losses.

Acker, who is Hunt and why should he be supported or is it some sort of rhyming slang?

Steward,

Does GH have a handle on the issues? He's bringing in a team to find out what they are. Does one do that if they have a handle on the issues?

He'll get some funds early November but only about half of what he says he needs. Shouldnhave asked for 10 billion headroom but shareholders might not have gone for that, instead they'll accept a potential near 75% dilution.

"Future partner" that's a bit presumptuous, they've not committed to ajy partnership merely expressed an interest. The potential future partner has agreed that the ore in the ground is of a quality that PREM has stated it is, a bit like saying I agree you weighed out an ounce of flour because the scales you weighed it on show me that. Their position right now is until you can show me you've weighed out a tonne of flour then I'm not going to buy cakes from you.

There's been no nonsense spouted here from those of us with a negative view, in fact it's been highly accurate. The nonsense has come from the believers.

I'm amazed you've waited your money today adding more, knowing full well that in a little over 2 weeks there'll by a fundraise using the 5 billion share headroom they've been given. That fundraise will be at a discount tonthe closing SP the night before, and as we can see the SP is dropping around 10% daily but will stabilise around 0.1 so with the discount the raise will be around 0.07, around a 50% discount to your purchase price today. Was your top up wise? Should you have waited? Why on earth would you buy now unless you're stupid?

Christmas will be great for anyone not holding PREM, those holding will be wondering why on earth they didn't sell because the next EGM will want 10 billion more headroom

Snowking, where do you get the idea that they won't use the full 5 billion straight away?

The RNS makes it clear that they need $6,299,000 for phase 5 alone, which supposedly ends mid December

Snowking, whatever price SC4 is makes no difference, PREM can't produce it for less than they can sell it for, same for any grades they've claimed to have achieved to date

Fellwanderer, the value of the resource in the ground is irrelevant if its costs you as much to get it out as you can sell it for.

GR was justing throwing out random numbers for production cost estimates to try and pump the SP ahead of his next raise. With SC6 at around $800 PREM cannot and will not make money and will not survive as a going concern. They'll either be bankrupted or taken private. Shareholders will lose everything.

Fellwanderer, only yesterday were you claiming I was making things up when I was telling you that they would need further dilutive financing, but you were adamant that funding would come from other sources.

Yet here you are now "encouraged" by this EGM call.

Assuming that they get the approval, 5 billion shares doesn't come close to the amount of money they say they'll need and they'll be back to the shareholders yet again.

The plant has major issues that they just cannot resolve and I'm of the opinion that the ore body is just not suitable.

I can see this dropping below 0.1p again before the EGM maybe even tomorrow as many will now just cut their losses and chalk this up to experience.

GR clearly lied repeatedly to shareholders if these numbers are to believed against the numbers quoted by him for the associated costings, they're massively different.

Desman, they say EXACTLY what I posted.

https://www.lse.co.uk/rns/interim-results-hd7ns8qk4qtx9w8.html

Click on the link above to the interims RNS, scroll down to the section titled "NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS"

Then go to note 2 and it's all there in plain English

Desman, the key word before it's states securing potentially from an offtake part it states:

· Payment terms with certain creditors at the Zulu project; AND

AND is the key word here, the consolidation, dilutive raise AND alternative financing need to occur in order for the company to be considered as a going concern

And the accountants I the going concern section stated:

The forecast that forms the basis of the Going Concern has been made on the following key assumptions:

· The completion of the share consolidation process;

· The calling of a General Meeting to raise additional capital;

· Payment terms with certain creditors at the Zulu project; and

· Implementing one of the following key options regarding the Zulu project......

Desman, why would you need to call an EGM to secure additional funds other than through dilution?

Traditional non dilutive funding doesn't require shareholder approval

Anglebox, the answer to your question is a definite NO, it's clearly stated in the interims

I agree Acker, most likely will be after close EGM call with all the details of just how much they'll want to dilute shareholders

Fellwanderer, you missed a really important quote:

"further refinements are required, and there can be no assurance that the plant will consistently reach its designed performance within the near term."

Toni, the the truth hurts and I guess they've released the news before you expected it. Now that GH doesn't give you the information you used to get from GR, it must be hurting you not to be able to trade like before. Never mind at least you and your Goldduck alter ego managed a bit of a successful pump but the big dump starts tomorrow at 0800 fastest finger first makes the least loss.

Carnage incoming. Where's the barclays chartist when you need them?

Fellwanderer, how do you expect PREM to realise 50% of the value of the Zulu claim?

If the price of spod and PREMs costs are virtually the same where does the profit come from?

Your 50% figure is pure fantasy and exactly why shareholders like yourself will continue to lose money, talking yourselves into imaginary what if scenarios. You no doubt read into all of Snowkings little inferences, what if.....

There'll be the equivalent of nearly 200 billion shares in issue by the end of 2025 (assuming they get shareholder support at the EGM) there's zero value to be had here by anyone other than those that (claim to have) bought at the lows and are sitting on modest profits right now.

There's a lot more shareholder pain to come over the coming days, weeks and months that will see the current share prices decimated.

Believers such as Biglad have finally realised what's been staring them in the face and made the decision to walk away for now. That imho is the sensible thing to do, certainly for the remainder of 2025 and then look again in 2026 and see if the company still exists with its current assets

Snowking, you know full well that Zulu is no closer to production that it was over a year ago. The size of the resource is irrelevant if you cant get the ore out of the ground and turn it into a saleable peoduct in large enough amounts. Glencore certainly aren't stupid and they won't part with cash until the plant can prove it can produce at grade and in sufficient quantity.

Nothing to see here apart from significant dilution on the horizon to raise funds and keep the lights on until 2026.

Fellwanderer, you've neglected to point out that there's a production cost to PREM last honest estimate from GR was $800 per tonne. That puts a completely different perspective on the value of PREM

Desman,

What slow but sure progress has been made? The RNS shows no evidence of any progress other than "encouraging results" and in fact qualifies that statement with "there can be no assurance that the plant will consistently reach its designed performance within the near term"

What is childish selling? Not a term I've ever heard? Do you mean holders selling because they want to cut their losses and exit their position before they lose everything after yet another poor RNS? Is that childish? Is it the logical thing to do to get out with whatever you can before all is lost?

GH isn't GR you're right about that, but GH is pretty much ready to retire, this project means nothing to him as far as his reputation is concerned, whatever happens he'll be retiring when it's concluded. If it works out then he goes out with a bang, if it doesn't he's the guy that tried to turn it around but it was too far gone, either way he's a hero stepping in.

There's a lot more pain incoming for shareholders in terms of dilution and that will be massive dilution in the order of at leat 100% of current shares in issue to raise sufficient funds to have sufficient cash to see out this year. Shareholders will agree to such dilution because the alternative is to lose everything by not supporting the company at the inevitable EGM and it's associated we'll be bankrupt if you don't vote in favour.

Anyone who bought the lows stands a chance to make some money if they bank the profits now. Anyone with an offside position or buying now will likely never see a profit, so "childish selling" is perhaps the right thing to do, "rose tinted holding" wouldn't be a good idea.