Member Info for raaydaar

Bogota, Glencore building and operating mines in Africa has absolutely no relevance to PREM. They're not building or operating Zulu, they've merely said they might buy some product providing GR can prove that the mine can produce at grade and volume by the end of July.

A deadline we all know won't be met, GR himself has openly stated that it won't happen, add to that that the company doesn't have anywhere near enough cash to get it producing at all let alone by the end of July says everything you need to know and armed with that knowledge you can deduce that the only way the share price is going is downwards. Once the RNS calling for the EGM is released then you'll see a significant drop jn the share price when GR reveals the proposed headroom increase he requires, the number will be massive most likely close to the current already massive number of shares in issue.

Will shareholders support 80 to 100% dilution for a project that has never delivered, to a CEO that has never delivered and has consistently misled both shareholders and the wider market?

"There has been no material change to the Company's financial position since the announcement on 6 March 2025 and following this Subscription, the Company will continue to require future funding in particular to ensure that the Zulu plant is able to achieve the required grade and tonnage to reach a binding agreement for the future development, meet operating costs of Zulu and settle creditors."

Sol001 are you really so naïve?

B_Positve the debt to Canmax is much much more than the $35 million you're quoting, it's now in excess of $50 million and continuing to increase with no current viable means of repayment. Add to that the $18 million plus of debts to staff and trade creditors, the fact he's currently got no mining contractor on site and may well have to find a new one as I can see Goddards not returning after GR declared FM all adds up to a rather large mess that will require a large number of shares to be requested just to keep the lights on. I'm actually surprised he hasn't called the EGM already but it's no doubt very close to the top of his to do list

Sol001, the quite is from the same RNS that announced the fundraise. GR obviously thinks it's not enough and the historic cash burn of the company even when Zulu wasn't switched on has been massive. So how much do i think he'll need? A whole lot more than he has the ability to raise right now.

B_Positive the Glencore non binding agreement provides ZERO financial stability to PREM its just an expression of interest to buy a product that so far, and at great expense, PREM has not been able to do.

B_Positive, that's not strictly accurate now is it, as well you know. You omitted to point out the crucial statement in the RNS where GR openly states they'll need more money:

"the Company will continue to require future funding in particular to ensure that the Zulu plant is able to achieve the required grade and tonnage to reach a binding agreement for the future development, meet operating costs of Zulu and settle creditors."

Doesn't get any clearer than that.

So the uber positive rampers with no logical argument for a positive investment case have now resorted to merely posting rocket emojis.

The kids in my daughters year 1 primary school class could see there's no investment case for PREM but could certainly do a better job of trying to pump it up.

Good luck to all of you that topped up today, you'll be down around 10% tomorrow.

Hasiba, I'm shocked you haven't learned your lesson yet with PREM, you must be close to £250k down now but still keep on buying with no realistic prospect of breaking even let alone making a profit.

Blind leading the blind springs to mind or is it the naive hoping to lead the naive

Santiagot, ALGW will do well for my investment there, I expect to make a profit in excess of £2 million when it relists, look out for the shareholder call later in the month where all will be revealed. As for PREM, we all know where this is going and it's certainly not in favour of anyone who holds or is looking to buy right now

Sol001 it's not just about getting through the next 3 months, it's also about servicing some of the debt. I'm sure you're well aware that when he proposed the failed placing there were certain immediate costs that needed to be covered, the totality of this recent raise doesn't cover those costs nor does it cover the day to day expenditure for the 3 month period. As GR has made clear they will require additional funding, I've no idea why some on here refuse to believe that this will be required, however it will and anyone buying now and holding will most certainly see a depreciation in the value of their holding. Just how much will depend on when he makes the EGM announcement and how many 10s of billions of shares he'll be asking for. I expect it will continue to fall to sub 0.02 ahead of the announcement and significantly more when the EGM is announced, most likely this week if my thoughts on timelines are correct.

Radical, the reason myself, Jaglith and others post here is because we do care about those who are 90% down and provide some balance to what would otherwise be an echo chamber of ridiculous predictions and talk of massive profits that clearly have not materialised. It's not about talking the share price down its about providing information on the massive risks that are involved in buying PREM shares sonat least anyone reading here and taking the plunge is made aware of the fact that the share price will most likely go down a lot further before any potential progress is made at Zulu,if indeed any progress will actually be made. The company will have to raise additional funds, they've made that abundantly clear in communications with shareholders and the market in general. Any fundraising that will be required will be at a significant discount and result in massive dilution to current shareholders.

Understanding the risks is a fundamental principle in investing.

Bluechip, I've been very clear that I do not currently hold any PREM shares, nor have I any intention to buy any at any price right now. I'm not even looking to trade them, the risk is too great for an occasional 10 or 20% pump versus a 30 or 40% drop when the EGM is announced.

Acker, all depends on when he breaks the news about the EGM, I personally see a significant drop towards 0.02 on that announcement which will confirm everything that we have said., however could drop further depending on how large the number GR asks for. What are your thoughts on how much he'll need, will he just go for working capital, or will he seek to settle some priority debts? I'm thinking the latter along with some contingency so I'm thinking that the headroom request will be in excess of 30 billion, more likely 40 billion or more shares.

Certainly doesn't bode well and any placing will be at a discount so I'm edging more towards mid 0.01s when the raise happens. That's all assuming shareholders will agree to a near 100% dilution.

Ponderosal/Mainstay/Santaiagot glad you agree I'm omniscient, especially when it comes to PREM, you'd do well to pay attention and take heed of what I say here rather than spout absolute irrelevance or wild out of thin air future valuations based on zero fact.

The facts as they stand are clear and obvious. All of the expert / knowledgeable / experienced / respected posters here agree on these facts and how GR will need to act in order to attempt to make progress at Zulu,it has absolutely nothing to do with Glencore, Canmax or anyone else, they will not be providing any funding to PREM whatsoever, Canmax want their money back and all Glencore have committed to is the possibility of buying some product in the future providing GR can prove that Zulu can produce at grade and in quantity, nothing more, nothing less.

It's now down to GR to make that happen, it won't happen without further funding which will require an EGM for increased headroom, alternatively it will require suspension and the publication of a new prospectus.

Either way , it's extremely unlikely given the estimated timescales provided but the company, that Zulu will be proven before the deadline required by Glencore.

Those of us who know this company inside out, who understand the nuances of a PREM RNS and can clearly interpret what GR says and doesn't say in an Interview are in agreement on these facts as I've stated above. No amount of rocket emojis or talk of "X.XXp easily achieved by X date" will change these facts and anyone listening to such drivel will be as disappointed as those who bought in believing that same hype when the LOI was published. I'm sure Snowking is currently hiding his head in shame nursing (or should that be doctoring) his losses.

I recall someone creating a new noun for people like Willec & Hasiba, "premmings" much like Lemmings: a PREM investor who follows the will of others, especially in a mass movement, and heads straight into a situation or circumstance that is dangerous, stupid, or destructive.

Very apt.

So uou agree that they're not a large PREM shareholder and uou are in fact misleading people with your post. 125 million isn't exactly a large holding either given the number of shares in issue. However the fact that they chose to sell those shares and make some money suggests that they have zero faith in GR and PREM to deliver.

Ponderosal, you're information is as ill informed as the majority of your posts. They're most certainly not large PREM holders, they hold cir a 25 million shares, so about £8k at current levels. This obviously sheds some light on your holdings is you believe 25 million is a large shareholding.

Willec, there is no situation with Glencore, they're not funding GR, they're just thinking about buying some product IF Zulu can produce at grade and volume which so far they've not been able to do despite all the fundraises and assurances from George.

All that matters now for shareholders is to ask the question. How does he fund the company to prove or otherwise that the plant can indeed do what he thinks it can? He certainly can't fund it from the money he currently has.

Hasiba, there's nothing temporary about dilution.

Some time in Q3 for the installation of the additional circuit, so unlikely to be by the deadline of July.

Another pointless RNS that attempts to push the SP higher ahead of the inevitable EGM, question is what number will shareholders find acceptable in terms of further headroom. He'll need at least £5 million for ongoing costs then there's the historic debts that will.need to be paid or an agreement made. I can easily see a request for between 40 and 60 billion more shares. Even the lower number I think shareholders would find unacceptable and unlikely to approve.

If they don't then suspension looms along with a new prospectus which will take several months for approval.

Ballymena what they're doing is trying to keep their narrative on the first page of posts. They've no argument against the bear case and don't have a bull case, just wild speculation that they hope woll persuade the naïve to invest here

Bluechip, I agree Canmax have had ample chance to get out, they could have converted the debt into PREM shares, they didn't, why was that? They could have converted the debt into a share of Zulu, they didn't, why was that? They do however want their money back and are more than happy for someone else to take on that responsibility. They've got people on the ground at Zulu and as some will say a big Chinese player is influencing what's going on. He wants his money back knowing what's jn the ground at Zulu.

Glencore will happily walk away in July when Zulu produces zero SC6, any other interested party will walk away when Zulu produces zero SC6 in July.

My guess is they'll walk away in June when GR doesn't get shareholder support for the 30 billion shares he'll be asking for at the EGM he will be proposing within the next 2 weeks

Willec, Canmax want out, they want someone else to take on their debt, that's clear and obvious from all of the recent RNS.

Glencore are interested but not to the point where they're willing to part with any cash, just to the point where they maybe, might possibly, if we feel like it, if we like what we see, if you can prove it works then maybe if the market conditions are right and we decide we want to buy some,make an agreement to buy some product, but you've got to prove you can produce the grade and in quantity to satisfy what we might want. But we're still not giving you any money, we'll just buy the product.

That Glencore involvement?

Willec, you're ridiculous plucked out of thin air numbers may well fool some people into buying but anyone with any semblance of experience in the markets is just laughing at you and your pathetic attempts to pump the SP.

Perhaps you believed your own hype and bought at the top.of the LOI rise and are now sitting on massive losses, when those in the know have traded this and made their money.