Member Info for raaydaar

Dazed, the dilution in ALGW will be value accretive when it relists at 84p which I'm more than happy about given my substantial holdings there.

A-Bomb, where do you get the idea that Glencore will be taking PREM shares? Why do you think that dilution of shareholders to the tune of over 58% is minimal?

I'm surprised the placing hasn't already been announced but I can only assume that it's because GR couldn't get the terms he wanted. Perhaps we'll hear after close today. Anyone buying now is mad to do so and will see the value of their purchase drop significantly once the placing is announced and the market reaction as it always is, is to drop quickly.

Anunnaki, I've been very consistent , for a long time, in saying that anyone buying PREM is simply throwing good money after bad and will not make any money on their investment. It's a suckered stock and sadly there are people, like you, who believe what GR says or talk yourselves into what if dream scenarios that just won't happen to justify your purchases of shares. You carry on believing what you want, anyone with a pragmatic mindset can see that this share is uninvestable

Sol001 they voted for it because the alternative was to lose everything. GR knows this and makes the point every time he asks for further headroom. There won't be many buyers around and current holders will see a big drop in their holdings value. This is a share for mug punters now.

Hornedfrog, consolidation doesn't alter the value of your holdings, just reduces the number you hold bybthe consolidation factor, in this case 10 and the share price increases by that same factor of 10.

In PREMs case it's being done to artificially increase the share price for further raises in the near future as its highly likely that if there was no consolidation then the SP would fall below par value and GR wouldn't be able to issue any further shares.

Craig, £1 million tranches won't do him any good, he's got too many priority debts to pay and also needs funds to try and get the plant running. It will be the full 27 billion otherwise he risks further falls in the SP reducing his ability to raise.

I was thinking around the 0.014 area for the placing but he'll have to get it done today and rns tomorrow morning or it could well end up being lower when the sell off happens at 0800. I would also expect him to use the full 27 billion available to him which will get him just over £3 million after costs. That should last him till the end of June, then it'll be another EGM call in July for another 4 or 5 billion post

Desman, you're absolutely correct "PREM is going nowhere"

Nomadme, you really do live in a fantasy world. Not a chance PREM will get a new CEO tomorrow, I highly doubt they'll get a new CEO at all unless it's offered to Brendan,I doubt anyone with any decent reputation in the sector would go anywhere near PREM.

Nomadme, youre still talking yourself into an idealistic dream that does not and will not gappen, you'll get a dose of the cold hard reality when the placing is announced. There's no way on this earth that placing shares are lined up for Glencore, nor is there any way that they would want to invest in PREM. You really should seek help, or maybe get out more often.

Sol001 you're assuming ghat they will find a replacement CEO. Who in their right mind would want to take on the poison chalice that it would be.

Sol001 shareholders wouldn't see a penny, the debt liability is far too great

That's a bit harsh Jaglith, with the current downward trend it's looking more like 0.015

Nk77 I nor anyone else needs to visit the site to know that it's just a pilot plant. Nor donInor anyone else need to visit the site to know that staff haven't been paid for nearly a year, GR has told you this in an RNS, nor do we need to visit the site to know that force majeure was declared wrt the mining contractors as that's public knowledge.

Perhaps you should do some research into your investment before demanding evidence from others. A little knowledge despite being a dangerous thing, foes a long way to stop you from looking like a fool.

NK77 they haven't created a big facility it's a pilot plant that doesn't produce. As for manpower, I'm not sure how much they'll have. The ones they did have haven't been paid in nearly a year and the mining contractors will have moved their staff onto other jobs after GR declared Force Majeure to avoid paying them their contractual payment.

Ballymena it hasn't been paid but I'm sure he'll make sure he's top of the list to get paid in cash whilst staff, contractors and suppliers aren't paid what they're due.

Thank Adam, no wonder I don't recall that as it wasn't the highlight of the RNS, more of a throwaway statement put in there, so I'm guessing it was a relatively small amount, but as you say proof that they have indeed produced the required grade.

Thanks Adam, but I want to know where it was "previously announced" don't go searching for it though, it must exist somewhere but I guess it was a tiny amount and just proof of concept, the subsequent issues override that anyway and as we know they could inly manage SC4 in any volume. Interesting that in the rns you mention GR states "Premier does not contemplate any additional plant or equipment at this time" yet here we are nearly a year later and additional plant and equipment is required.

Thanks Adam, but I'm curious as to where it was previously announced, I cannot recall seeing this I any RNS, only what I've previously stated that the lab tests show the ore is capable.

Adam2479, when did they tell the market that they can produce sc6? I've no recollection of such an announcement being made. As I recall GR alluded to the fact that their internal lab tests indicated that the ore was capable of producing SC6 (SC6.1 iirc) however at no time has the plant produced SC6.

Whatever happened to the 350 tonnes of SC4 that they were going to sell? No doubt still sitting in a warehouse somewhere waiting for the mythical export licence that they still don't have which I believe GR said will take about 3 months, must be well over a year now.