Member Info for raaydaar

Londuke, I'd suggest you read the ALGW Rns released yesterday and digest the numbers before you make suggestions it was a bad investment. Do the maths and come back to me on here with a number of what 21,369,809 shares will be worth on relisting post consolidation, those shares cost me £259,816.

I've done the maths at the top and bottom estimates, can you do the same, then come back and tell ne it was a bad investment.

Chase1 yet another Premming living a a dream world. Zulu plant has too much wrong with it and the company has too little cash to be anywhere close to achieving production at scale before the end of 2025, and certainly not within 3 months.

The most likely scenario is that Glencore agree to an extension for the LOI of 3 months, GR as his parting gift places the remaining headroom at around 0.012 and then does the consolidation followed by an AGM call for mid to late August with a request for another 10 billion shares to cover debts, and provide ongoing working and should shareholders not agree then a material uncertainty will exist as to PREMs ability to continue as a going concern. At that point I think Canmax may decide they've had enough and call in the debt, take Zulu and move the project along themselves.

Steward it's a lot more than tweaking that's required we've known for months that the front end of the plant wasn't up to the job and that there were issues with the sorters, GR even said as much as recently as the annual report.

I agree he'll now have to utilise the remaining headroom, but that won't come close to covering the immediate needs of the company. Consolidation and EGM to follow shortly afterwards but how much more headroom will he want? I can't see $10 million coming close to what the company may need, perhaps $20 million might buy them enough time to last until the end of the year, with the SP where it is now and with the usual discount it's going to be a further 100% dilution to shareholders. Will they support him yet again or finally just wash their hands of the company?

Hasiba, you're insane if you think this will be resolved in a "few days" if it can be resolved at all it will take months and $millions

Fellwanderer he's telling you that the concrete has nearly cured, not that the secondary plant is nearly finished. Like I said they haven't even paid furniture yet.

This is why PREMMINGS keep losing money, they cannot read and understand an RNS

Sol001, why would Glencore come on board and pay off the debt? They're not interested in doing that right now and would well walk away from PREM completely next week, they may elect to wait a little longer, but certainly won't be investing any cash into the project in any way shape or form. Anyone that thinks otherwise is deluded.

As others have said there'll be no meaningful production at Zulu this side of 2026, assuming they can raise sufficient funds to last that long. He'll have no choice now but to use the headroom left, which is about 8 billion, that will raise circa £800k before costs with discount, then it's consolidation and back out with the begging bowl at an AGM in a few weeks to once again tell shareholders "give us the headroom or we can't survive"

Fellwanderer, where in that RNS does it say that the secondary flotation plant is near completerion? They haven't even paid for it yet!!

Isn't it remarkable that no matter how bad the news that GR releases is, some still seem to interpret what he says as positive, getting strange ideas in their heads which they then convince themselves to be true.

I said last week "Yes the plants been switched on but it's just been for a systems test and this is what the market and PREMMINGS have failed to appreciate, it's just a test to sort out any potential obvious issues with wiring, pipework etc. If the float inserts work then great and I'm sure GR will be shouting it from the rooftops but it doesn't resolve the front end issues that plant has which will prevent them from producing at volume."

and was berated for that statement and accused of not understanding PREM.

Well, those of us that warned that caution should be exercised were once again proven correct. This is going to cost a lot of money, money that PREM don't have, the debts continue to increase, the creditors knocking at the door wanting their money and the deadline for production at grade and quantity rapidly approaches.

If the issues can be fixed, which is debatable, then those fixes won't be cheap or quick, cash and time are 2 commodities that PREM just cannot afford.

Biglad, you keep mentioning Glenmore, who are they and what have they got to do with PREM? Perhaps some more research on your part would help

Steward if people wanted others to lose money then surely the best option would be to say nothing? PREM situation wouldn't be any different and all we'd have is a group of happy clappy people singing GRs praises and blowing smoke up his backside. Perhaps those that err on the negative side actually do care and are providing a contrary viewpoint so that a more balanced investment decision can be made.

Jaglith, the interest is compounded so as the debt in reads each month so does the interest

A regulatory required RNS that says nothing unexpected. What's concerning is that some are now of the opinion Glencore will be releasing a TR1. It's scary that the premmings get this little ideas into their heads and talk themselves into believing them to be the truth.

What's needed is an updated on the test run, does the plant function, what remedial works need to be done after all the time it's been switched off. Are the hydraulics leaking etc etc.

The longer the wait the lower it goes.

Looks like th SP is heading back into the 0.01s today, the placing when it comes will now wipe out all of those gains that the happy clappy bunch have been so cheerful about. No doubt they'll claim it was well known about and expected so nothing to worry about.

Problem is when it comes it won't be enough to cover the costs of the required production test run. Will it be enough to cover remediation costs at the plant following the recent test, to fix all those things that are still wrong and need attention before the real test run can take place.

Biglad you really need to get your facts straight so as to better understand what's happening at PREM. Graham Hill is not the new CEO, he's just the new managing director with no board responsibility or authority.

It's notnunreasonable to expect an update 7 days after a plant test run expected to last between 3 and 5 days. Typical of this company is that when things don't go to plan, they delay the release of the bad news. Therefore it's reasonable to believe that the test run has encountered issues, issues which they will need additional financing to resolve, finance that they dont have.

The company is not getting a new CEO this week, it's not getting a new CEO anytime soon. GR will continue in his role until he's spent the last of the money on his latest vanity project. 8 billion shares to be placed ahead of consolidation and then 10s of millions more to be requested at the next EGM.

SP continues to fall as shareholders all know exactly what's coming.

If there'd been any sign of SC6 then GR wouldnhave released the news and it would certainly have leaked. The selling on Friday could suggest all is not good in the state of Fort Rixon but more likely selling in anticipation of or because of a leaked placing

Biglad you're exactly right, do PREM have a proper engineering firm? Enprotec are just doing the new inserts, everything else is PREMs responsibility as GR has been so proud to say since Stark left the site. Everything else that's wrong with the plant from the front to the back end is PREMs responsibility to fix. Yes the plants been switched on but it's just been for a systems test and this is what the market and PREMMINGS have failed to appreciate, it's just a test to sort out any potential obvious issues with wiring, pipework etc. If the float inserts work then great and I'm sure GR will be shouting it from the rooftops but it doesn't resolve the front end issues that plant has which will prevent them from producing at volume. If the inserts don't work on this test then I'm sure GR will just say they need to wait for the official test run where they hand sort the best ore to be fed into the system.

Whatever the result from this test, the plant is no nearer to production than it was 12 months or more ago and will require significantly more capital investment to resolve the front end issues which even with the nest of intentions won't realistically be sorted this side of Q2 2026. More dilution incoming at shareholders expense. I'm still expecting GR to place the last of his headroom soon if not tomorrow. He'll wand to consolidate after all the shares have been utilised and call a GM knowing he'll have shareholders over another barrel of can't raise any more cash without your support. Place your bets on a 0.017 placing tomorrow. If not the SP drops and it's gonna be back at 0.012 wiping out all those gains the PREMMINGS have been so proud of.

Been a bit bores this afternoon following a very busy morning shift and with my wife away for the weekend I thought I'd sift through the above named individuals posts. As difficult as it is to work out exactly what they're saying as it's clear and obvious English is not their first language or indeed any language that they speak to even a basic level. Problems arise with certain claims relating to Barclays Bank and their employment there, along with their location and certain other claims that any sane person would not make on a share chat forum, specifically relating to "sex slaves" and other potential sexual encounters none of which ring true. To be a good liar you need to remember what you said and who you said it to. Unfortunately this individual has failed to do that, their generic background story fails to hold merit when they make the errors and get the story wrong.

Desman I don't know at all that the finance will come from anywhere other than a placing. GR has made that abundantly clear in RNS on multiple occasions and if I remember correctly also in interview.

Non dilutive finance hasn't been an option and we all know exactly howbmuch they need against how much they've got or can raise and those two numbers differ drastically to the point where they cannot finance what they need to do for the test run of the plant. That tells you everything you need to know. This recent running of the plant is nothing more than a systems check and the market has failed to comprehend that but the reality will soon dawn and the SP will find its true place which is about 0.012 imho so not a good investment opportunity.

Desman, exactly what finance is in place? How much is it? Does it cover the costs laid out by the company?

I've not seen and RNS stating finance is in place other than the recent raise which nowhere near covers the required financing to complete the test run let alone cover all of the required and expected additional expenditure before they could even contemplate production.