Member Info for raaydaar

Goingtomoon, how much can GR raise at the next funding round? Not a lot! Certainly not enough to pay for everything he claims he needs to get Zulu running, unless of course he calls for another AGM and asks all of his loyal shareholders for another 30 billion in headroom.

Canmax have clearly lost all faith in GR and just want their money back now, they're not interested in taking a stake in Zulu and certainly aren't supportive of GR. They're clearly sick of GRs poor management and continual wasting of funds, to the point now where he needs permission to spend anything and needs to start prioritising the debts.

I would think that the creditors will be lining up at the door demanding their monies under threat of legal action now to put additional pressures on the company. At last count he owed $17 million, probably closer to $20 million now. Where's he going to lay his hands on that kind of money? He can't raise it, he can't mortgage the plant or take a secured loan.

This RNS is basically saying that PREM is pretty much done for and won't be lasting too much longer.

Dazed if I valued your opinion on ALGW I would respond.

Coldsteel and end up being diluted by another 70%, it's a long way back to break even from that far down

Steward, PREM owe Canmax approximately $47 million, the current mcap of PREM is approximately $17 million please explain to me how Canmax converting $47 million into PREM shares equates to 30% or even 50% of the business? I did my Maths A level in 1988 so may be somethings changed over 37 years but I'm confident my brain still works.

Steward, my apologies using the current midpoint it equates to around 142.5 billion more shares

Coldsteel, do the maths, Canmax would get all of PREM 4 times over if GR had the shares to issue which he hasn't so it begs another question, if Canmax do elect to convert the debt into PREM shares what does GR do? Would you as a shareholder support that dilution of your shareholding?

Steward, Canmax cannot take PREM shares in lieu of the debt, GR doesn't have them to give and I'm sure shareholders would allow dilution of another 175 billion shares, plus the issuance of those shares would give them overall control of PREM which I doubt they want.

The only options available to them are take a share in Zulu to the value of the debt owed including interest, which GR has stated is around $47 million, become the minor partner and pay their share. The other option as Jaglith has pointed out is do nothing, sit on their hands and wait until the plant is sorted or until PREM goes under and get Zulu for nothing. If I were Canmax that's what I'd do, they invested in a project to provide SC6 that project hasn't produced and needs a lot more cash I wouldn't be stumping it up. GR himself has admitted that Canmax aren't in a rush for SC6 so they can wait a bit longer until GR finally maxes out the last of the credit available to him and PREM goes under. Debts now (excluding Canmax) must be around $20 million, where's he going to get that from? Can't imagine anyone taking 4 billion shares as payment anymore, staff have families to feed and bills to pay, Contractors have staff to pay, suppliers have staff and bills to pay. They won't wait much longer before taking action against PREM.

Im actually surprised the company have lasted this long.

Dazed I'm still more than happy with my investment in Algw as is my wife and all of the major shareholders in the company. This is the PREM board for PREM discussion

Wouldn't surprise me at all Steward, you've always been one of the more sensible posters on here with a more realistic and objective viewpoint, willing to accept the risks rather than believe all of the unfounded speculative hype that's been posted here of late.

Steward1 you've hot the nail on the head there about releasing news. If there was any news to release GR is obligated to release it ASAP, which suggests that there is in fact no news to release. I imagine that there'll be a bit of a sell off this afternoon as nobody in profit will likely want to be holding into tomorrow morning especially given GRs track record of no news is 99.9% bad news when it's released.

We'll be keeping the telegram group open post delisting

What's wrong with working for Asda? Are you belittling those hard working people that are providing for their families doing whatever it takes to put food on the table? You really are an arrogant prick! When times are hard you step up and do what you have to do, someone like you wouldn't have the balls to do what I've done to make sure my family is well provided for, be it doing my normal job in the UK, spending 2.5 years in Baghdad under constant threat of ISIS attack or driving an Asda van after losing my job during COVID. I'm a grafter not a lazy bulletin board keyboard hero. You keep on going to the various Spoons outlets if it keeps you happy, I can't think of a more sad and lonely existence than drinking alone in a Spoons and posting ill informed, irrelevant drivel on here

Anglebox it's to be hoped it's Goddards or whichever contractor took shares offloading the remainder of their shares otherwise it's a large holder looking to exit their position at no doubt a significant loss which is not good for those of you smaller holders who are convinced that there's some semblance of hope left.

Could be Hasiba dumping one of their truckload of shares or Goozee who's been remarkably quiet, or Snowking who persuaded so many to buy here with all his insinuated inside information comments.

At the end of the day whomever it is didn't want to hold onto 1/2 billion shares and the mug punters who were buying provided them the liquidity to sell those shares. A classic pump and dump if you like. Back down tomorrow ahead of the placing news before the weekend. GR must have ants in his pants itching to get the last of the headroom placed to pay or more than likely not to pay some of the bills or even the staff.

Ponderosal your idiocy knows no bounds, 3Bn share purchases today? You truly are the fool with this and your alter egos.

PREM is done for, GR cannot pay the bills, Canmax will take their share of Zulu on 1st April and then do nothing, they're not in any rush, they'll sit and wait and watch whilst GR continues to run PREM into the ground, all the while accruing further debts he cannot pay, then they'll make him an offer the cannot refuse for the remainder of Zulu leaving GR and PREM with few dollars, the remaining worthless assets and no route to generating income, shortly followed by bankruptcy.

Hasiba, not even you with the most rose tinted of glasses can believe that GR hasn't already blown all the monies raised recently, one last placing Hurrah inbound to pay his salary and fees and a couple of good meals before PREM is declared bankrupt

It's a game there's much more to the business than just the fund management side. Total AUM is closer to $750 million

"The company is bringing in far less than what it spends…"

That's not how it works when a company makes a profit. Simple maths!

"They can’t afford to pay the market listing maintenance fees"

£5 million in cash suggests otherwise. Again simple maths!

"If there is an investment case ..then why the BoD team are not buying at this decimated sp!"

Ever heard of a closed period? Ask George Roach why he's not buying PREM shares at their decimated SP

Luthee I see you've developed another 2 aliases in Mainstay and Ponderosal to spout the usual volume rubbish.

Rookie mistake correcting your £1bn with 1 billion* under the alternative alias. How many is that you've gone though now? All the Sandringhams 1-7, Luthee (obviously), Botuney, Ponderosal, Mainstay, Quagpalm etc, there's so many I forget. Still not bringing any value to the conversation though.

Wolframite, guess you're not too happy with your source feeding you duff information or does the source, as I suspect, not exist and it was a poor attempt at a ramp to get you out of your recent position?

The clock is now ticking and getting ever closer to the 1st April Canmax take their share of Zulu, PREM continues to accrue debts it cannot pay now close to if not over 20 million, looks very much like that by the 1st April the debt will be not far off PREMs stake in Zulu that Canmax can buy out leaving GR witba a few quid to move a mill back to RHA.

Hasiba, how's those truckloads of shares looking right now? Must be able to fill a Piggy bank with what they're worth right now. You keep holding long and strong though, you never know, one day.....

Alma if you're going to try and post something that claims to be time sensitive as fact then you should perhaps do some research and get your dates right. Makes your attempts at knowledgeable critique look rather foolish, pretty much like the rest of your commentary here.

Wolframite, again do your research, as I did with PREM over many years, that way you'll be able to make informed comments on the company rather than broad uninformed speculation in retaliation for a contrarian view on your PREM investment.

There's a number of new names who've appeared here since the delisting announcement claiming to be knowledgeable about the company and posting some rather outrageous claims. Some of which are potentially libelous and have been brought to the attention of the company who may consider legal action against the individuals concerned.

Wolframite has no knowledge of ALGW and is a bitter and twisted PREM investor who is aggrieved at my wholly accurate postings on the PREM board. When PREM delists in a few weeks it's gone forever along with the monies they invested.

That's by the by.

The headline from the recent rns about the delisting was badly received by the market, and rightly so, the company could and should have written it in a much better way.

The content of the rns is what should be focused upon. It's clear the company is making significant progress towards the 2bn AUM and has identified opportunities but due to regulatory constraints they have it needs a change of direction to get these deals done. Delisting removes these obstacles, allows for an auditorntonbe appointed, institutional investors to come on board, the M&A to take place and a reliating under the correct category to take place at some point.

I've spoken with3 of the other 5 TR1 holders, all.of us have added to our holdings (not to average down, but that's just an inevitable consequence of buying at these low levels) to add further tonour investments, Roy Rawlins has notified his holdings to now be above 5%, I believe another holder may have crossed a reporting threshold as well or will certainly be close to that threshold. We are not concerned by the news, in fact we relish the fact that significant progress can be made through the process. The company has made it very clear that they intend to relist in the near future, how near is that future? I'm not sure but I'd expect no later than end of Q1 2026 but most likely some point in 2025.

Delsiting isn't a bad thing, shareholders remain shareholders and if the company is sold before a relisting then shareholders get their share of the monies as they would if the company were listed. The only issue is is much more difficult to sell the shares should they wish to.

As I've said many times before I'm invested in the company and it's potential. I'm not interested in selling any shares or trading so the delisting has no impact on me, my investment remains.

The Board have always and will always abide by the laws of the land and the allegations that information was shared ahead of the delisting announcement is preposterous, they wouldn't risk 10 years imprisonment and/or an unlimited fine to share any information unlawfully and those making such potentially libelous allegations should be very very careful.