Member Info for raaydaar

Yoglet, it happens with pretty much every consolidation I've seen or had the misfortune to be involved with that the SP drops quickly post consolidation. I've been burned a fee times with Oilers doing this. Mayan springs to mind from a good few years ago now, the CEO there Eddie Gonzalez promised everything and delivered absolutely nothing other than placings (sound familiar?) all the while drawing a hefty salary. Company went under and has been resurrected under several guises all of which have failed to deliver, it's currently known as HE1 and they're doing exactly the same.

Sol001, share consolidation is never a good thing.

Share consolidation is a common strategy for companies at risk of bankruptcy, with the aim of making the business appear more valuable to investors. That's the case here, the consolidation will artificially inflate the share price by a factor of 10 making the company appear more valuable than it actually is. What it doesn't do is solve the issues the company has, the debts (aside from Canmax) are spiralling out of control and if GR manages to get the vote for the headroom it won't raise enough to come close to settling the priority debts and cover the costs for the remedial works at the plant, so where does that leave them? Creditors will see what's happening and know that the company is in severe financial difficulties and they'll want their money, sending GR an invoice won't work so they'll have to start down the legal route which could then invalidate PREMs obligations for the revised offtake agreement.

Steward, where kn earth are you getting the idea that Glencore are going to takenthe 27 billion when the placing happens? They're not interested in investing in PREM. You're talking yourself into believing a non existent scenarios to justify a poor investment decision. If Glencore were going to invest it would be directly in Zulu and not PREM.

If GR gets his headroom the 27 billion will be placed within days if not hours of the vote going through at a likely 30 to 40% discount and it will be broker clients that takenit not Glencore.

Steward you're right Canmax have indeed had ample opportunity to get Zulu on the cheap, but at that time they didn't have a majority interest in the site. Now that they do, I suspect they'll vote against the headroom and consolidation leaving GR with nowhere to go other than a discounted open offer to shareholders and if I remember rightly he doesn't have much room to play with if he is forced down that route, certainly not enough to do what he wants. That's a moot point though since he won't get the interest from shareholders to throw good money after bad.

Sol001, I'd suggest it's in Canmax best interests that the vote doesn't go through, including accrued interest by the time of the AGM they'll be owed around $53 million which is secured against Zulu based on a valuation of $100 million. If the vote doesn't go through they get their share of Zulu,the remainder will be sold off by the receivers for maybe a tenth of its agreed value so let's say $5 million, Canmax could quite easily take that then form a JV with Glencore or another 3rd party to get Zulu up and running. PREM gets nothing, PREM shareholders get nothing. The Chinese are the clear winners.

Milnrow, the larger the dconsolodationn the greater the risk to the share price. Consolidation of a share is never a good thing, it's a sure fire sign that a company is kn dire financial straits. It's an attempt to artificially inflate the share price nothing more nothing less.

Steward, where do you get the idea that Glencore are standing by to invest in PREM? The LOI isn't expressing an interest to invest? There's been no press release from Glencore to suggest this is the case, nor has any information been released by PREM to state that is the case.

All Glencore have done is state that they're willing to buy SC6 from Zulu, providing PREM can prove they can produce it in sufficient quantity by the end of July.

Once again you're talking yourself into believing a fantasy scenario that doesn't exist.

Steward so many "could" and "what if" scenarios are why people who buy PREM shares keep losing money. They talk themselves into buying a fantasy scenario that never happens. Along comes the next big placing, everyone is disappointed, some are angry but "we knew it was going to have to happen" then there's a bit of a rally in the SP and it's all "shorters and naysayers should be worried" the SP stagnated, then the bad news comes that the "expected fixes" haven't worked, the SP drops and the circle repeats itself.

Steward, Canmax aren't taking an additional stake in PREM, do the maths and you'll see why. The 10 billion shares are set aside should Canmax elect to take partial repayment of the outstanding interest in shares.

As for the 27 billion shares going direct to Glencore, you must be smoking something that's clouding your judgement or has Snowking been back with his subtle "what if" scenarios. Absolutely laughable.

Another poor interview. Secondary float plant unlikely to installed and operational by end of July deadline, GR "hopes" installation won't extend beyond end of August.

Guy is still.out of his depth making promises he can't keep. Obvious from the conversation that he was pushed out of his role and that the board will tolerate him until the end of August.

Who on earth would want to take on this poison chalice? I think they'll struggle to find a suitable qualified replacement.

Sol001, that must be why he hasn't paid them since July, they don't deserve to be paid due to their incompetence. GR on the other hand has been fully deserving of his salary and consultancy fees, Prem wouldn't be where it is right now without him doing what he's done.

Sol001, Q3 isn't just July, it's also August and September which are both outside of the 3 month deadline, although I personally believe that he's being overly optimistic about Q3, or even 2025.

He just won't be able to raise sufficient funds to do what's required. The wolves are obviously starting to knock at the door. Can PREM survive?

Even with shareholder approval the debts massively outweigh his ability to raise, a deadline looming that anyone can see will not be met!

I did say I can't imagine anyone would be buying. I also said that anyone who does needs their head examined, I even suggested a couple of names of people who enjoy buying PREM, especially when it's about to drop 60%

Bogota, no they're not for Glencore, they don't even get name checked in this RNS, have they already lost interest and not allowing GR to use their name.

Sol001, I can't imagine anyone would be buying PREM shares any time soon now that the inevitable news of the AGM has been released and we all know that if by some miracle he gets approval then he'll do a discounted placing ASAP. 37 billion is a big number but just not big enough!

He hasn't been paying staff since July last year, I've absolutely no doubt that his salary and consultancy fees have been paid during that time along with Brendans salary. Absolutely shocking.

Anyone even contemplating buying PREM shares now needs their head examining. Best thing GR can do now to protect the already battered SP is to ask for a suspension, although I doubt he has sufficient grounds for one. Will be carnage in the morning. Fastest finger first gets out and saves their money.

I'm sure Hasiba will be buying more truckload of shares though along with Bluechip and the rest of the ramp crew as they do clearly need their heads examined.

Hasiba, GR has never stated that all in costs for production of SC6 Inc transport costs is $500.

Once again you've been taken in by his careful / clever use of language.

Bluechip, hardly scare tactics, just facts. Clearly you won't accept what's staring you in the face and that's your choice. The old adage a fool and his money are soon parted springs to mind.

Be sure and post your buys tomorrow on here before they're published so we can all share in the glory of your profits.

Bluechip, hardly sca

Bluechip, even a person with 1 brain cell can see that GR will need to raise funds to attempt to get this project to a conclusion, that means significant dilution at a discount to the prevailing share price. Dilution that will see the Market Cap drop significantly perhaps 50% or more.

Anyone with a single brain cell can see that this is not good for shareholders or investors and is nothing more than a way to lose money on their investment.

Anyone with a single brain cell can see that PREM will not achieve the required parameters to satisfy the Glencore LOI within the stated timescale.

Anyone with a single brain cell clearly has a greater intellectual capacity than you do.

The fact that you continue to berate and insult those of us with a negative viewpoint and are unable to form a cohesive argument to support your position suggests that you are, in fact, the one lacking in intellect.

The facts are clear and obvious. GR himself has clearly made statements that negate your absurd and ludicrous assertions.

Those of us that know this company well, know exactly what will happen and it's very far removed from what you are trying to convince people will happen.

Mark my words, GR will be calling for an EGM before the end of this month, at that point the share price will plummet and you will publicly be made to look the fool that you clearly are. At that point you'll crawl back into your little cave and come back out again when the next opportunity to deceive people appears where you hope you can make a few quid.

Anjnnaki, the bear case for PREM hasn't changed since the LOI was signed, conversely the details of the LOI actually make the bear case much much stronger as once again there is a deadline which will not be met.

Confirmation bias is a dangerous thing, it can be fatal under some circumstances, with PREM however it will just cost you a lot of money, as it has already cost a lot of people a lot of money.