Member Info for raaydaar

Don't think it's Smelly, I heard they took another £25k this morning which the MMs are keeping hidden at the moment as they don't have the shares that would be in demand when that's releases. Will probably be an after hours delayed publication

I did hear that someone was looking to build a healthy position as soon as they could. Think we may be seeing the start of that.

that's rubbish, snowking, noel and all the others in the pandora group made a shed load of money out of controlling the narrative here. all those little "what if" and "i've had dinner with gr" statements made a mockery out of the situation. those of us with any balls to challenge them were beaten down and abused, bizarrely it's still happening in the telegram groups with ma being called at **** for stating what is pretty much true in terms of the debts owed by prem to canmax and the accumulated interest. the rose tinted glasses wearers surely must be able to now accept that prem is doomed to failure and that shareholders will receive nothing when it happens. i'm amazed that anyone is still buying these, the hope of a decent trade is long gone, next news is either bankruptcy or a placing at 0.01 either way there's no money to be made. avoid at all costs, sell and get what you can, put the money elsewhere there's plenty of options out there than can help recoup the losses, algw is my go to favourite for quick gains but don't listen to me as i'm biased.

Alma, the auditors walked because they weren't qualified or capable of doing what they claimed to be able to do, and I'm surebyou know this but are trying to make it out to be a bigger issue than it actually is.

Here's the FRC case summary:

We asked the company for further information about the impact of IFRS 17 on the 2023 annual report and financial statements, as the audit opinion stated that ‘…[the auditor was] unable to obtain sufficient and appropriate supporting evidence to assess the impact of implementing IFRS 17 on the group’s financial statements’.

The company provided further information showing that the group had issued insurance contracts that were within the scope of IFRS 17, however, it explained that the Board believed that while the financial statements did not fully comply with IFRS 17, the impact on net assets would not have been material and would be presentational only.

The company agreed to fully implement the measurement, presentation and disclosure requirements of IFRS 17 in the 2024 annual report and accounts. In view of this undertaking and in the specific circumstances of the company, we did not consider it proportionate to take further action in respect of the 2023 annual report and financial statements

https://www.frc.org.uk/library/supervision/corporate-reporting-review/crr-case-summaries-and-entity-specific-press-notices/?query=alpha+growth&quarter=#crr-case-studies

They don't have auditors, you're right, the previous auditors claimed to have experience dealing with companies such as ALGW but as it turned out didn't have the expertise they claimed.

The margins are far from on a knife edge, plenty of cash in the bank to more than cover costs.

The 2 billion issue is a matter of semantics, you see it one way I see it another.

Comms are indeed rubbish, I agree and I'm challenging them on that issue.

CEO owns a lot less than me and quite frankly I don't care, I want a CEO that's working hard to get the company where he and I want it to be, where he can exercise the options he's got. Gobind has significant options at a price much higher than where it is now, options that he wouldn't exercise until the SP is much higher than the exercise price. It's in his interests to get the price up there to where he can exercise and profit. If you had nay relevant investment experience you'd understand that US companies work very differently to UK companies and CEOs take their rewards in options rather than invest large capital amounts. Gobind is invested and faces the daily ups and downs we all do.

They haven't taken 3 years to move the fund, it's not a trust fund and anyone with any semblance of commone sense would know that

As I've said before the big prize is longer term and I'm not interested in the day to day. The price couldn't possibly be down 450% that's mathematically impossible and show you to be the complete moron that I take you to be.

Forest you're buy your own admission you're a shareholder now, or was that claim as inaccurate as pretty much everything else you spout here?

The Company is very different now to the one I originally invested in just after the IPO and I believe it to be a much better company with more solid foundations going forwards. As for investor returns, I'm not particularly interested in the short term, I'll leave that to the traders to make or lose money on their short term views. I'm invested here for the long term greater prize and happy to continue to accumulate with that longer term viewpoint.

People like Forest and Alma buy the likes of PREM for those quick swings when it's popular and make their £100 a day if they get lucky from their punt and fair play to them if it comes off. I'm looking at a much bigger prize in excess of £3 million for my investment and that's a number well worth waiting for. Beer money trading is for those without the vision or knowledge to make big profits, those of us with the knowledge and vision make the big money by investing the big money and are happy to wait for those returns.

It was finished a long time ago, some just refused to believe what was staring them in the face.

Also throw in the fact that PREM are delinquent on their VAT payments, the Zimbabwe government won't want to do business with them in the future, they'd much prefer having companies that pay their bills on time

They weren't rejected, they expired and when the Zim government decide they'll be put out to offer again, PREM will be free to apply. However given their complete incompetence in getting Zulu working I highly doubt they would be awarded and future EPO licence for the area.

Wolframite, all well and good holding an application, if it's not a licence it's not worth anything.

Billy, your shares are in PREM not Zulu, which is a separate entity currently wholly owned by PREM. Come 1st April, Canmax will take a percentage holding of Zulu in lieu of the prepayment debt plus interest owed, by my calculations that equates to a little under 60% of the Zulu plant, leaving PREM as the minority partner in the business. The question that needs answering however is PREMs ability to remain in business up until the 1st April and indeed beyond that date. As I'm sure your research into the company has shown, they have little money, some rather large outstanding bills, including a priority debt to the Zimbabwean government of $250000 as a PARTIAL repayment of VAT owed. I'm sure your also aware that they recently attempted to raise £3.5 million through a placing and offer to shareholders, this failed and as a result additional funding support from the major shareholder Canmax was also withdrawn. This leaves GR in somewhat of a pickle. He did manage to raise about £500k after fees, which would be enough to pay the partial VAT bill and wages owed to staff that he hasn't been paying since the middle of last year and also, if you can believe anything he says, it gives him enough money to do some groundwork for a new flotation plant that he wants to buy but cannot afford. Not sure why you would spend money prepping the ground for some kit you cannot afford. He also needs a lot of cash to do a test run for the plant to see if the tweaks he's had done have worked. This all means that he needs to try and raise more money, the city have snubbed him, shareholders have snubbed him so the only way now is some form of death spiral financing

Quag what lies? Please tell me where I've lied?

Harrun, what makes you think it will turn around?

Quagpalm still posting outdated irrelevant information. Canmax aren't interested in funding Prem any more, they gave GR his chance by electing to add additional funds providing GR could get support in the form of a placing at 0.02p, the city boys laughed at him and the shareholders told to stick it where the sun doesn't shine. Quagplam on the other hand was very confident that the placing would be a success and now he's having to make things up to try and justify his existence. It's sad that care in the community just isn't what it used to be.

There are no imminent test results, you'd need tests to get results and we all know the test run of the plant isn't happening due to lack of cash. As for solid buying, we'll some posters just continue to show their ignorance and overall general idiocy

Https://taxsummaries.pwc.com/zimbabwe/corporate/other-taxes

Quagbot, how else would they be able to get access to the money they're owed? GR hasn't got enough cash in the bank to pay them so by default it's either keep waiting in a vain hope that you'll get something but might get nothing or take the shares as that's his only way to pay you and at least they can be sold and you can cut your losses and walk away with something for your troubles. Another billion or so shares to churn through whilst these are sold and then how many billions more before he's completely out of cash and they call in the administrators?

Harrun, you appear very bullish, what catalysts are you expecting that will drive the share price to nearly triple before any news is released?

The company has little to no cash in hand, little to no prospect of raising sufficient cash for required equipment and testing. Next news release will most likely be another raise to keep paying GR salary and fees.

What are you seeing that the rest of the world cannot that will make this a value buy, or is it just more wishful thinking from a rose tinted glasses wearer

However honest and unbiased it may be, it is however inaccurate, Canmax won't be taking 50% of Zulu, it's closer to 64% once all the interest is added. That said its immaterial as PREM will be out of business long before April and Canmax will get Zulu in it's entirety

Lawrence, congratulations on your 10 million buy, you're obviously very proud of yourself to be able to make it subject of a post.

You're obviously new to PREM and clearly very naive when it comes to investing in AIM and didn't do any research, if you had done any research then you'd realise that this is far from the bottom. The company is in desperate need of cash and could only raise 540k before expenses at 0.02. Those shares were bought by the broker because nobody else was interested, the broker is now selling those shares at around 0.024 for a 20% profit, a nice easy 100k profit for them whilst the likes of you see value in buying. GR still needs cash and can only get that through dilutive means and his only hope to pay for the plant test and cover the VAT bill alone (not the contractors, staff or suppliers) is a death spiral CLN which will be at a big big discount due to the risk element involved. I'd expect something around 0.015 which might just cover what he needs but nothing more, so he's going to have to come back to shareholders for additional headroom, which I don't think he'll get.

You may be proud to own 10 million shares in PREM, but if you had done a bit of research you'd have saved yourself from buying 10 million shares that in a month, 6 weeks at most will be worthless.

Quagpalm, there are indeed plenty of other ways to raise funds, but none are available to PREM. Only options available to GR are dilutive within the available headroom until he calls another GM for additional increase