Member Info for raaydaar

Good for you Wolframite, I loaded up another 7 million shares, whilst you were looking short term for small gains I was looking at the bigger picture and when it relists at 84p those shares will see a profit much much larger than 18k

Anunnaki, it wasn't me that brought the subject up. Rather than duscuss the issues with PREM, some here prefer to try and be clever and speak of things of which they know nothing about.

Wolframite, won't be losing a penny on ALGW, far from it, as it stands on relisting I'll be sitting on around £1.75 million profits.

That's how you make money with investing. You buy the right shares at the right time, like you and I have both done with PREM in the past, but you lose money when you buy at the wrong time and now is the wrong time to be buying PREM shares, the price has a lot further to drop before any possible recovery happens, which given everything we all know, is unlikely to happen.

Anunnaki, I predict your prediction will be wrong, the contractor shares can start to be sold this week and with the low volumes the companybis experiencing along with the remainder of the placing shares its going to be a while before PREM has anything like a good week and I'm predicting another raise using the remainder of the headroom and the consolidation within the same timescales you think.

Nk77 in response to your post:

1. $1.6 million is nowhere near enough when the company have stated they need in excess of $10 million

2. Contractors aren't investors, they want cash to pay their staff and bills (something GR should take note of) so will be selling the shares as they have done on every previous occasion they've been paid in shares.

3. Agreed and why there won't be any desired results within the timescales quoted by GR or several months thereafter (if the companybstill exists)

4. I'm sure we can blame one person who has oversight of the company raised millions upon millions with stated use of those funds and yet mysteriously the funds weren't used as stated.

5. Agree, company needs cash to get things done, cash it doesn't have. Yes there are other projects, all of which have either previously failed or the company doesn't have the cash to progress.

My thoughts aren't short sighted, it's all been going on for a number of years and has culminated in the current position whereby the company has accrued debts it cannot realistically service, it has a plant that requires significant investment to get to a point where they hope it might work, investment that the company cannot afford, it's own numbers released in RNS are clear and obvious and we'll in excess of the funds raised and it's current future ability to raise additional funds.

There's still a massive overhang from the recent placing which will take weeks to clear along with the contractor shares lockout period ending next week, means weeks if not months of churn all whilst the company will be unable to progress the works at Zulu beyond pouring some concrete and watching it go off.

Thanks for sharing that AI generated interpretation. Here's a real interpretation:

1. Premier is desperate for cash with immediate needs in excess of $10 million but could only raise about $1.6 million after costs.

2. Contractors took payment in shares because PREM doesn't have the cash to pay them. They'll sell those shares at the first opportunity.

3. The money nowhere near covers their immediate costs

4. Work is progressing but the budget nowhere near meets the costs. $500k outstanding for the secondary float plant. Costs associated with the proposed upgrades and testing $885k they haven't paid their staff for nearly a year etc etc

5.Zulu needs new sorters that it cannot afford. GR talks of other minerals to recover as a carrot to dangle.

6. Those placing shares are now being sold and mug punters are providing the liquidity for the placees to exit their positions

7. Consolidation incoming

8. Premier needs to get Zulu to work but hasn't got enough cash to do that. Additional funding over and above the current headroom will be required with no guarantees that the plant will work. The continued fall in the price of SC6 means the mine cannot operate at a profit.

Wolframite, I don't for one minute think that the test run will cost $800k, the RNS states the money is for costs associated with plant readiness and test running. Reagent assessments.

Enprotec haven't been doing all their work for free and GR will have to pay them, that's the reagent assessments and they've been ongoing for a long time now, plant readiness costs and the test run make up the rest of the $885K the secondary float unit costs a separate $500k and is listed separately precisely because it isn't included in the $885k.

Wolframite, it's there in black and white in the RNS, 2 separate items with associated costings. If you're incapable of understanding the simple concept of reading a list and understanding what's written in that list then you really shouldn't be allowed out on your own.

Wolframite, it's not included in the $885k they're separately listed items in the rns:

Balance of cost of Zulu Secondary Flotation Plant $ 500,000.00

Costs associated with plant readiness and test running. Reagent assessments $ 885,122.99

Wolframite I know exactly how much was owed as of 6th June and I know that the recent raise has not paid that outstanding amount.

Craig how is it "guaranteed" that PREM starts producing in 5 months? The only guarantee is that GR will need to raise more money and then ask for a headroom increase again.

Alert 500k is a lot of money when you don't have it , then there's in excess of $800k for the test run, more cash that he doesn't have and money that he doesn't have the headroom to raise.

How will he pay for the test run? The recent raise wont be used for that and he hasn't got enough headroom to fund the costs of the test run.

NK77 I'm sure you're more than capable of going through all the "Premier is pleased to announce a placing" RNS over the last 2 to 3 years and add up the figures. The day to day expense when the plant was running was well documented so one can extrapolate a day to day cost for the time it hasn't been running. The numbers tell a story and it's a story of not raising anywhere near enough money, misleading shareholders into believing that the next fix will be theast, a story of Force Majeure, a story of not paying suppliers, contractors or staff. Exactly what has all that money been spent on? Perhaps the accounts, if they're released on time, will tell us exactly what GR has been doing with all those many many many millions.

Wolframite, he needs to pay for the Chines float section first and atm doesn't have the money to do that. Doubt they'll give him credit as he does have a tendency to not pay for things.

Chaucerman, surprised you haven't been banned again, you've made enough mistakes with posts under Lesterpidgeon.

Luthee, Quagpalm, Mainstay, Santiagot etc all got banned and yet you continue to make new accounts that bring ZERO to the discussion. Hopefully LSE will wake up and remove you soon for your continual breaches of the forum rules. Until then I shall make use of the filter tool.

That's the big problem with the majority of PREM investors, certainly those that post on here, they talk themselves into idealistic scenarios which they believe to be true. You only need to look back at when the share price had fallen from 1p to 0.8p and continued to fall, they were all topping up at those crazy levels, tucking away millions more, adding more to the truckload etc etc. At that time GR continued to raise funds and those of us that know the company well we're pilloried for saying he hadn't asked for enough headroom or hadn't raised enough. We were ridiculed for questioning the debt situation and here we are now with a share price in the doldrums and no realistic chance of recovery or profit for the vast majority of shareholders and yet the same people keep posting the same irrational logic and continue to lose money.

I've said it before and I'll say it again now, GR will place the remainder of the headroom very soon and he will be calling for an EGM to fleece shareholders once again after promising them free passage to the land of milk and honey.

Alert, they've been pretty dawned certain for a long long time now but nothing has changed and he keeps on asking for those headroom increases, just look at how much he's raised over the last 2 years against all of his promises that production is imminent and his strong beliefs that the next fix will be the final one and ask yourself exactly what has he spent all of that money on whereby the company finds itself in such a large amount of debt.

AlertRNS, your calculation is incorrect, he's used slightly over 71.5% of the available headroom, you cannot include the 10 billion set aside for Canmax should they choose to waive interest and take shares. Those 10 billion are not available for anything else. So the figure is even more worrying don't you think?

7,700,833,333, is the accurate answer to the question. The simple answer is Not Enough.