Member Info for raaydaar

Steward, "he isn't taking cash from Prem and hasn't for a while."

Let's see a monthly salary, consultancy fees, 2 all expenses paid trips to London plus whatever else he's blowing cash on. What he isn't doing is paying the wages to the Zulu workers or paying his suppliers and contractors

Clueless, administration is inevitable, once you've accepted all is lost, life will be much easier. Why continue to prolong the pain and keep GR in Shiraz and Tomahawk steaks. If you want to give him a shot at success then vote NO, don't allow the dilution to go to the City boys, grab your fair share that's deserved for your loyalty. He still gets the cash he needs but the vultures Don't profit

Why is an open offer much riskier? GR has already stated everything's in place should that be the route he has to go down. At least shareholders have the opportunity to get some even cheaper shares than they can now to maintain their position and should they choose not to then it's backed up by the loan provider and GR gets his money to pay the bills and xome back next month askmng for more. Alternatively, the 15 billion go to the City boys at a discount and they dump them back into the market taking their profits on to the next placing.

Kelladee, all depends on your personal viewpoint.

Vote in favour f you think that it's acceptable for GR to dilute shareholders by 43% and have just enough cash to pay the bills before coming back next month and begging for more.

Or vote against if you think it's about time he gave his loyal shareholders the opportunity to add to their holdings at the discounted rates and still raise enough cash to pay the bills before coming back next month begging for more

It's actually quite good fun posting in here providing some much needed facts and opinion that can be used by those looking in to help make their investment decision. Surely you'd want to see both sides of the investment case?

As for news ahead of the GM, it's unlikely, GR stated in the interview (nearly 2 weeks ago) that once he had a better idea of the vote numbers he was hoping to secure some advanced monies. Well om sure that if Canmax were being supportive they'd have submitted their vote early in the process and that information would have been leaked.

Clueless, Is reality is finally hitting home? That's the response of a very desperate person. How much has your support of PREM and loyalty to GR cost you so far? Or are you going to live in denial and pretend you've made some money to justify your failed investment to the members here

Micky you don't need to wait until the end of the month. The full 15 billion will be placed before Xmas

Micky, you clearly don't know GR. The full 15 billion will be used at the first opportunity.

Ellis, Graham Hill has already stated he won't touch PREM until all of the issues are resolved, as he doesn't want his reputation to be damaged by a failed project, so it's pretty unlikely that he'll be taking over any time soon.

Ricky, however you phrase it, it's dilution.

How will those debtors feel and react if he cannot get the plant running and he's blown all the cash?

What many here are forgetting is that no matter how many shares headroom he gets, the maximum amount of money he can raise is £5 million. Should the company require to raise more then they'll be required to publish a new prospectus which will require FCA approval.

Therefore all this talk of much more money being raised is rubbish. He's basically got the Facility to raise enough cash to pay off the debts, certainly nowhere near enough to continue operations once the debts have been paid.

Canmax have always been able to buy more acres at whatever price on the open market. The 0.32p floor in the agreement was only applicable if they elected to convert the prepayment repayments into PREM shares.

Mugwump, PREM haven't raised $20 million through an equity swap, if they had GR wouldn't be begging for 15 billion more shares

What the RNS does tell you is that PREM is in deep financial difficulty, they haven't been paying the staff at Zulu, they haven't been paying the suppliers, have gotten so far into debt with certain suppliers that they've had to make payment arrangements to keep the wolves at bay and they don't have enough spares on site.

What's he been doing with all the money he previously raised? Contractors and CZ were paid in shares. In the last 9 months he's raised roughly £5 million and I find it quite remarkable that out of all that money he's raised he's not been able to pay the bills and even more remarkable the contempt he's shown for his loyal staff at Zulu who he hasn't paid. He still jets around the world on expenses, wining and dining potential suitors, whilst his hardworking staff are struggling to make ends meet and feed their families.

If he gets this through the funds from 15 billion placing on Xmas eve will all be gone by New Year's day, the plant still won't work and PREM still won't have any money.

Premium placing 🤣🤣🤣

RP2020, remember that works both ways. Any news that GR couldn't get the loan or the open offer is discounted massively will see the SP drop faster than Luthee can count to 1

Luthee, your name change after your ban doesn't stop you from posting the exact same phrases in the exact same way along with your inability to count and identifies you for exactly who you are.

Luthee there is no sea of blue, there's been 21 trades so far today amounting to a mere fraction of the average daily volume. That tells you nobody is interested any more, the risks far outweigh the possible rewards right now.

I don't think even you Luthee could argue that PREM hasn't been badly managed, that's blatantly obvious to all and sundry.

Nolza, care to share your research and counter my argument or has been suggested are you praying to the great Spodumene God and hope they come forth and provide George with the sacred knowledge of how to fix Zulu?

On what basis Nolza? All the evidence suggests that if he gets the loan then it will barely cover the debts, the open offer should it happen will add a minimum additional 20 billion shares. The funds raised will barely cover the debts and won't provide enough working capital to get Zulu into production. That means a further fundraise will be required, that in itself will require the publication of a prospectus, which will take several weeks to be approved. Several weeks that PREM won't have as the bills will continue and the company won't have any cash.

However you look at it, this loan and open offer is simply a means for GR to keep taking is salary to the detriment of shareholders

Nolza, anyone that had paid attention and heeded my "pearls of wisdom" would be in a far better place than they are now should they have chosen to average down or hold.

A contrary viewpoint should always be considered as part of your research into a share. I'd be interested to hear your thoughts on how this pans out for the future based upon the facts we have accumulated thus far.