Member Info for raaydaar

Accounts by the 30th June which will show just how dire a financial situation they're in. 10-1 consolidation RNS could land at anytime and another placing RNS to utilise his remaining headroom as soon as he can after the current round of placing shares have been churned through.

Sol I've absolutely no idea how much the new flotation plant costs, but I know exactly how much was outstanding at the start of June and that he won't be using the money from thebrecent raise to pay the outstanding amount.

Sol, I doubt the new float circuit will be on site next month,GR hasn't paid for it yet, will need the next raise to hopefully cover the outstanding amount, but unfortunately he then won't have enough cash to turn it on for the test run.

Mugwump the principal reason PREM has not yet started producing Spodumene of any saleable grade is because the Zulu plant isn't capable of producing Spodumene of any saleable grade. It's got absolutely nothing to do with the falling commodity price, surely even the most naive of investors know that or is this yet another PREM investor justifying a poor investment decision by blaming something other than the company for its obvious failings.

Santiago666, this RNS tells you how much debt they're in and how much they think they'll need

https://www.lse.co.uk/rns/notice-of-agm-hjxeyo45oy8kh86.html

Then there's the now $60 million plus owed to Canmax to be added on to that, although ghat debt may be taken on by another party should they get Zulu producing at grade and volume. If not it's another chunk of cash that they don't have and won't be able to raise.

Anunnaki, I'm intrigued to know when the consolidation is going to happen, if you're going to sell just before can you enlighten the group as to when it's happening? Does your magic chart tell you? Or are you privy to some inside information? Otherwise how could you possibly know when you can sell just before consolidation happens? Or are you just making things up to sound knowledgeable?

One only needs to read the AGM call RNS with the breakdown of the funding required and tye recent placing RNS, then crunch the numbers for even just the most essential of costings to keep the company running and pay for the required works at Zulu and you can clearly see that GR hasn't raised anywhere close to the amount of money he needs. You don't need a chart to tell you that PREM is in dire financial straits and anyone with any reasonable charting ability will tell you that charting a company like PREM is utterly pointless.

Anunnaki, instead of throwing out the insults perhaps you'd care to share the actual investment case for PREM. Persuade me to part with some money and buy 50 million shares. I don't want to hear pie in the sky guesses about Glencore investing or that kind of thing. Give me some cold hard facts that will convince me that a company that is so far in debt it's virtually bankrupt, hasn't produced any product of a suitable quality in saleable volume, that despite multiple assurances from it's CEO that they're on the cusp of production, are no further forward than they were 12 months ago and in significantly more debt.

Go on, give it your best shot maybe I'll be a buyer on Monday if you do a good job

Manning that won't be the case once the late sells are published. All the buyers are doing is providing liquidity for those that took the placing to exit their positions. At current volumes it's gonna take another week or maybe more before they're churned through and then there'll be the contractor shares to get through so I'd hazard a guess that GR will place the remainder of the shares before this lot have been churned through, 30% discount will see a sub 0.001 placing maybe around 0.07. Wouldn't want to be holding any when that happens!!

Hasiba why would the large sells provide a TR1 for Glencore?

Glencore aren't interested in owning PREM shares, if they were they'd have participated in the placing. Canmax have no intention of even maintaining their % holding and have access to 10 billion shares they can convert at any time so there's absolutely no way they would buy on the open market.

Once again the premmings living in their fantasy worlds where the only way to justify a poor investment decision is to believe in a wildly idealistic scenario made up in their heads.

Sol001 would that be the same Enprotec who in September last year after months of lab testing stated "that no major fundamental changes are necessary to get the equipment running optimally"

GR also added a nice rampy statement on that RNS about how Enprotec had reviewed the content of the RNS

Sol001, the next news will be the issuance of the remainder of the shares for either a cash raise or to pay another contractor. After that will be the consolidation and then the call or an EGM to raise additional headroom. All of which will be before the plantbis turned back on in 5 weeks time.

As expected Glencore did not take any of the placing, Canmax haven't exercised their right to maintain their % holdings in PREM, they clearly no longer have any interest other than to get their money back along with the interest, must be in excess of $60 million now.

Over 19 billion shares to churn through, that's a lot to get through so won't be quick.

Really, which TR1s have you spoken to? What did they have to say?

Sol001 the raise hasn't happened because the city boys aren't interested in parting withbtheir cash for 27 billion PREM shares at the price GR wants. It will happen at some point soon the big question is at what price? Today's pump failed so at some point GR will have to bite the bullet and accept what he can get. The bills continue to accrue and PREM has no cash

That 31st July deadline is looking more and more likely to be missed.

Baker Tilly have been appointed as auditors. Canaccord are the new broker and will sponsor the relisting.

Anunnaki, you keep telling yourself that. Have you've been buying millions and millions of shares? Or are you still waiting? What's your price to buy? Is it before or after the placing? The PREM share price isn't linked to the USD, it's linked to the company ability to produce a product that can be sold, something it hasn't been able to do and now the company is in dire financial straits unable to get a simple placing over the line. How long before the lights are turned out? Given the significant debts and zero revenue, probably not too long.

Nora, I'd prefer not share the details, but the end result of everything when it happens will be a relisting ideally end of November or early December at a market cap equivalent to between 7p and 8.5p per share.

Plenty of information shared in the telegram group from the TR1 holders who had a separate meeting with the board. Very exciting times ahead and looking forward to the relisting later this year.

A-Bomb, you clearly have absolutely no idea. There's no way GR will wait until the end of June or early July to place the shares. I'll be surprised if there isn't an RNS after close today confirming the placing. Glencore won't be taking a single share, they're not interested in owning any Prem Shares. The placing will go to the city boys at a hefty discount, I'm now leaning more towards 50% or more since it wasn't announced this morning.

It's amazing how many posters on here are devoid of any realism when it comes to PREM, they're clearly very naive and live in a fantasy world created inside their tiny minds that don't understand the company or have the ability to read an RNS

A-Bomb, exactly how will Glencore acquire 30 billion shares in the next placing?