Member Info for raaydaar

Acker we've both been here a long time in one way shape or form, you're back in and I'm still out and as such won't make any financial gains or losses. I've absolutely no idea why the price moved the way it did on Friday, there's no logical reason for it, maybe an organised move to get the price up to allow some to exit their positions. It's all down to news now, if GR gets the vote for the headroom it buys him 3 months or so to get things sorted but shareholders will be diluted almost immediately after the vote and he'll go for the full 9.75 billion rather than doing smaller raises. As I said its just too much of a punt for me, too much can go wrong too quickly and the guaranteed discounted raise for near 30% dilution means if I was interested in taking a punt I'd prefer to wait and see where the SP lies after that, but as it stands I'm not interested and happy to comment from the sidelines. There may be a pont in the future I'd take a punt but a lot would have to be achieved before that happens.

Non whatsoever Acker, a trading opportunity, I agree, an investment not a chance. That said it's not for me in either case. I have a high risk appetite but for me PREM is way above that and just a pure gamble spin of the wheel black or red play, my experience and knowledge of GR and the company says the ball lands on Green.

Whywastetime, think you've forgotten to log into your Luthee account, your use of ubiquitous and making stupid grammatical errors when trying to make your point gives you away.

Nevertheless, a good day today for the believers and quite honestly I'm surprised. I expected GR to place the remaining 250 odd million shares he has left to help pay those unpaid bills. Somehow the market believes that there is life in this old dog yet. Personally I don't see it, nothing has changed, the plant doesn't work and needs millions spending on it to make the necessary alterations and equipment changes, there's a whole lot more needed that the 400k flotation unit, millions that GR doesn't have. There's the inevitable placing on the horizon for the 250 million he has now plus the 9.5 billion more should he get shareholder approval. He'll want as much cash as possible as soon as possible so the full headroom will be used. Amazing how people cannot see what's staring them in the face. I do feel sorry for those that were ramped into buying in today, but it will teach them a lesson on who to trust and why PREM isn't a viable investment opportunity.

Jay the problem with taking out the other minerals is that it requires plant modifications and capital investment. PREM aren't in a financial position to do this and no other party would make the investment required when the Zulu plants future is in doubt.

That's always been management's plan, build it up to a point then sell. Once the 2bn AUM is achieved I don't think it will be long after that, 1bn AUM could generate some interest

Must have been a large number of sells in those 600 million and the share price is only up 1.61% so hardly worth the Kleenex you're using Luthee.

Whywastetime, I'd suggest you look up illiquid and insolvent in the dictionary, PREM is most definitely not illiquid, but is most definitely insolvent.

Nobody should believe these tales of buyers swooping in and hoovering up the stock. As I write this it's down 10.65% that doesn't happen when there's masses of buyers hoovering up stock, that happens when there's masses of sellers dumping the stock.

What's Luthee's reward for pushing the narrative on this?

His/Her/Their (most probably Their so I'll use that) alleged near 3% holding of the shares in issue is clearly nonsense and their agenda is clear to spout absolute nonsense and criticise posters for grammatical errors that they too make.

Facts here are plain and simple. PREM has no money, the accounts show that, GR has admitted they owe money that needed to be paid, he raised for working capital not to pay what needed to be paid. He's arranged another jolly to London at shareholders expense. A quick look on the hotels website for the period of the GM (2 days before to 2 days after) for 2 rooms (George and Brendan as he'll need a child to work Zoom) cheapest rooms come in at just shy of £4k. Cheapest business class flights I can find for the period for GR and Brendan come in at £5k so that's £9k of funds spunked into a towel before he's even got the money he wants, or around $13k of money that could pay Zulu workers wages. Add in the wining and dining cash and maybe you'll realise he's taking you all for a ride, getting what he can on expenses living his lifestyle and milking the system for what he can.

GR is having one last fling on the shareholder dime.

MikeBarso, don't forget to criticise Luthee who's made 1 less post than Jaglith, it's not just the "warriors" who are here all weekend, the deluded also appear to have nothing better to do

Sharebel if you honestly believe GR won't raise funds asap after the meeting you're insane. He waited 4 days after the last meeting before breaking the news to shareholders. The meeting is in London so he can wine and dine some of the brokers clients and try to persuade them to part with some cash, naturally at a discount. The 9.5 billion will all be gone by the end of November if he gets the approval which I'm not convinced he will get this time around.

Botuney, well aware of the contract and well aware that at no point are Canmax contracted to buy shares at 0.5p. Please prove otherwise and I'll bow to your superior knowledge

Acker, as you well know, there is no contract in place for Canmax to purchase shares at 0.5p if the debt isn't cleared by April.

If only people had listened. All the signs and information was there to see. How many times were you told with GR it's what he doesn't say in an RNS that's important along with being able to interpret his vague language.

GoldDuck I guess funding isn't coming from Canmax, the rns pretty much confirms this.

Well that just about puts the final nail in the PREM coffin

GoldDuck the profit share agreement has absolutely zero effect on PREMs profitability as they're not producing any SC6 therefore Canmax cannot produce any Lithium Hydroxide to share the profits on.

Whether you're willing to admit it or not, if the interims are not released today or before market opens tomorrow then PREM will be suspended.

If funding was coming from Canmax it would be in place by now, after GR went cap in hand to Beijing. The blinkered views of so many on here are quite laughable. The company has no money, no source of raising anywhere near enough funding to last more than a couple of weeks, a plant that doesn't do what it was supposed to and will require significant additional investment, funding for which GR doesn't have the money.

GoldDuck, GR makes it up as he goes along. These internal estimates keep getting lower as the spod price drops. Still waiting for the estimates to be verified as per 21st May rns:

"Financial model

Premier's internal review of production costs (which have not been independently verified) now indicates an average overall delivered China port cost per ton of US$834 in for 2024, with future costs on the same basis below US$800 per ton delivered China port.

Premier has engaged an independent engineering consultancy to review this financial model."

4 months down the line and no review of the Internal Estimates, they obviously didn't stand up to scrutiny

Mugwump those costs aren't for the plant as it is now. It won't be switched on and instantly produce the required quantity at grade. The $500 costing was an internal estimate or Guess at what GR thinks it might cost and surprisingly still hasn't been independently verified despite assuring shareholders in a previous rns that he was employing someone to verify this.additionally that guesstimate production cost is for the "enlarged flotation plant" you know, the one that PREM don't have

So no interims released as of yet. Suspension looms once more because of GR failure to produce accounts on time. Perhaps he cannot afford to pay the auditors? Or perhaps this is deliberate to provide himself some breathing room and stop the share price dropping down much further.

Wasn't he supposed to be turning the plant back on by the end of September? Shouldn't he have released details of the report by now? After all he was supposed to have received it a couple of weeks ago. Maybe they've concluded that it's just not possible to produce in quantity and at grade and now, as usual GR is burying his head in the sand looking for who to blame before breaking the bad news.

The saving grace for the share price is that pretty much everyone invested is so far underwater that suspension would be a relief as their investment cannot drop in value any further.

Luthee will certainly be glad, his near 2.8% of the company has seen millions wiped off of his investment over time but he still believes in good old George. He's clearly a very wealthy person who can afford to have his losses stuck indefinitely in limbo rather than sell and recoup them elsewhere.

Yes they get suspended if the interims aren't released tomorrow.