Member Info for raaydaar

Acker, the inability to pay the debts remains. What's not forthcoming is the amount of the so called priority debts the company have accrued and clarification on other debts that may or may not have been paid. The CZ debt in particular had accrued interest of something just over $1 million, the capital debt was repaid in shares but no clarification was made with regards to the interest owed, if it was being written off (unlikely) or how and when it was to be repaid. Then there's the loan to GR which the company is currently in default, I cannot recall if that's to be paid in shares at a prevailing price or as the number of shares sold by GR, not in accordance with the RNS informing shareholders of the loan and not notified to the market in accordance with the regulations. Then we have all the additional debts accrued. All of which amount to a number which I would expect to be pretty close to the amount of the loan he's hoping to get, but looking increasingly likely that he's not getting, leaving pretty much next to nothing available to keep the company going until the end of the year and pay for the mythical running of the plant to allow the mythical JV partners a chance to see the mythical production of Spodumene.

I'm sure Luthee, sorry Londuke as he's calling himself now, will be back tomorrow with pointless links and claims of massive volumes with large percentage gains all of which are in fact truly pointless non informative links, low volumes and buys and sells within a large spread skewing the actual reporting of the non movement of the SP.

It amazes me that anyone would consider continuing to hold these shares let alone actually buying them. Massive dilution or suspension is guaranteed to happen very soon. Question is do you hold and hope for a miracle, sell and buy back after the open offer and take advantage of the large discount, hold and take the open offer in the hope of a miracle or get the heck out of dodge, cut your losses and walk away with something ahead of the imho inevitable bankruptcy?

"The decision is yours" as "are Graham" used to say on a popular Saturday Night TV show I once appeared on in 1993.

I see luthee is back with another account and still cant count.

Acker, isn't not even worth risking a trade now. Once the open offer is announced around or a little below 0.02p there'll be another 20 billion plus shares added to the registry. I don't expect there'll be much more than a 50% uptake of the open offer, leaving circa 10 billion shares in the hands of the CLN holder. These people are vultures and will sell as soon as they can further driving the share price down. Once the debts have been paid GR will be left with very little cash certainly not enough to resume mining operations at Zulu.

Trying to trade post open offer runs the very real risk of being caught on when the shares are suspended pending delisting.

Price is irrelevant if you can't get the stuff out of the ground, processed and sold.

Acker my thoughts were 0.02 as well but could end up lower if the SP drops further from current levels

Making cash, GR won't be able to do another raise after this open offer without publication of a new prospectus. If Canmax don't participate then their shares will be converted by the loan provider along with any other shares that are not taken in the open offer.

Let's do some simple maths on the Open Offer amount and the potential dilution for shareholders.

The maximum GR can raise is £5 million and I cannot imagine a scenario where he doesn't go for the full amount.

Offer at 0.03 is 16.66 billion more shares or roughly 49% dilution

Offer at 0.027 about 18.52 billion more shares or roughly 54% dilution

Offer at 0.025 is 20 billion more shares or roughly 58.5% dilution

Offer at 0.02 is 25 billion shares or roughly 73% dilution.

Not good numbers for shareholders

Bobbyretro, only you can decide if its worth holding on to the shares or selling them. If you do sell, when the open offer happens you won't be able to participate as your entitlement to buy will be based on your shareholding at the time of the offer. That said, if you do decide to sell, the open offer when it comes will be at a significantly lower price to the current SP and with the dilution the SP generally drops to around the raise price (but thats not guaranteed) so you could potentially sell now and buy back if the price drops.

It's likely that now the cat is out of the bag that the SP will continue to fall ahead of the open offer, which I would expect will happen relatively quickly.

ARAhim,

Have you been on the beer or smoking some illicit substances? Raise at 0.06? You've got to be having a laugh, at best it will be 0.02 most likely lower

Not looking good if he has to go down the CLN route

Mugwump, the mic is muted at the moment, hence you cannot heat anything

I don't think anyone no matter what their beliefs in PREM could possibly disagree with anything Matinigirl has posted. Tomorrow GR will either have support fornthe placing or he won't. I for one will be watching the meeting and have a lotnof questions to ask. I doubt he'll answer them but I'll try

Calling for GRs head wouldn't actually solve anything, who would take over the poison chalice that is PREM. Someone mentioned a name from the AGM which I cannot remember, a chap that is well respected in mining circles who was a potential successor but said he wouldn't go near it until Zulu issues were resolved as it would severely damage his reputation. As incompetent as he is, GR is at this time the only hope for this company, although it's pretty obvious for anyone looking impartially at the company that there is pretty much no hope that the Zulu project will succeed.

I suspect that the Canmax plan of action from here is to no longer support the company, which they've pretty much declared by not voting in favour of the motion leaving PREM in a very precarious financial situation and then they'll withdraw from the prepayment agreement, as they're contractually allowed to do, requiring PREM to repay all of the monies owed in cash within 90 days from the date of the notification. GR won't have the money or the means to raise that amount so he'll be forced to either part with Zulu or indeed all of PREMs assets to satisfy Canmax.

More bluff and bluster from GR in an attempt to ramp up the SP ahead of the GM. Come 16:00 on Monday we'll know for certain that the next step is an open offer to raise $5 million at a discounted price. So we're looking at something in the region of another 15 to 20 billion shares being issued to get the money. The vast majority of that money will be required to pay the priority debts after which there'll be enough left to keep the lights on for a few more weeks at most.

Since Luthee, Botuney and Whywastetime haven't been in today with their emojis and wild assertions of billions of buys and buyers can't get enough.

It's more like shareholders have had enough. Who could blame them, in 10 days or so we'll have details of the open offer along with desperate pleas from GR to keep paying his wages.

"Roll up Roll up grab your share of 20 billion PREM shares on offer, each one could be yours for just 0.02p a bargain (until the next dilution)"

calls it for the ****sh0w it is. time for anyone with any sense to seriously consider selling out, even at a loss. it's unlikely this will turn around even with the massive incoming dilution. only gr will benefit from his continued salary and consultancy payments.

might take a bit of time but losses can be recouped, i know of a couple of prem previous rose tinted glasses wearers who got out and bought my other favourite share and are now getting close to break even. however if you continue to hold until it's bankrupted and delisted then you get nothing.

i'd suggest going onto telegram and joining the hive group there. you'll get a fair and balanced view on investment opportunities. they as a collective are extremely knowledgeable and promote discussin and debate rather than èmojis and accusations that seem to be preferred here.

Seahorse, Canmax cash position is completely irrelevant to PREM. They're not investing any more money into the company, they're no longer being supportive of further dilution. They're happy to see PREM go under and will take Zulu in lieu of the debts owed, bring in their own new partner to run the mine, then and only then will they part with any more cash for the Zulu project.

Pretty much. As the saying goes, a fool and their money....

Botuney surely even you can see that your last statement is inaccurate. Share price is far from 6% up and is in fact down nearly 3% on average daily volume.

I could say the same about you. I've been working nights, what's your excuse?