Member Info for raaydaar

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.

Mugwump, when the plant is switched on it doesn't do what it's supposed to do as evidenced by the fact that there's been no SC6 produced and sold so your statement of immediate production ans millions in profits is delusional . At present spodumene prices with the Canmax discount factored in the mine will not be profitable at all.

Then you need to consider that in order to run a mine you need money, PREM has no money and cannot access enough to pay its costs.

GR stated he would have the report over a week ago. He went to China cap in hand god knows ows how long ago now and Snowking, DEB, Noel et all were telling the world that financing was sorted just a matter of crossing the T's etc. As we (the keyboard warriors) stated, that finance wasn't going to be forthcoming and now we are in the position of waiting for the fundraise GR has said is needed by the end of the month (Monday) in order to get the plant turned back on. Can't see it happening on Monday. More than likely there'll be a suspension trading first thing Tuesday morning.

Mrgeebee, you should have delayed that buy until after the placing, you would have gotten a 30% discount, maybe more but then again buying now or after the placing won't make any difference when PREM likely becomes insolvent before year end

Jag, CZ are a major shareholder in PREM but only by default due to the issuance of the 2 billion shares, which you correctly point out are being sold as quickly as possible in an attempt to pay back the capital owed to CZ. What's needed is clarification on the circa $1 million interest accrued and owed to CZ, how if or when that will be payable?

If it's to be repaid then GR is going to find himself in a very awkward position being unable to pay the debts owed. CZ will no doubt be instigating legal action to recover that money (if it is to be repaid and I cannot imagine they’ll write it off)

SWLC, define "not much left" by my reckoning they've still got a little over half a billion still to dispose of. Hardly "not much"

i'm sure hasiba has been adding to his truckload of shares. snowking will be selling down his holdings to put the money into the 50% discounted placing. deb will be averaging down with mum and dads money whilst noel will be asking chatgpt if prem is a worthwhile investment opportunity and declaring to the prg that all is good as a gypsy sold him some lucky white heather that looked a but like gr if you s*****ed hard enough. meanwhile in the other telegram group neo is throwing around clown emojis whilst looking in the mirror and seeing krusty.

the whole load of them are laughable, just won't accept that their money is gone and believing in saint george being their financial saviour.

wake up folks, smell the bull your spouting and find yourselves an opportunity to walk away with at least something in your pocket that you can use to recoup the losses.

Nelly, as you know they were feeding hand sorted selected ore into the plant.

Gazza can you be a bit more specific about what information you require?

Nelly, of course enprotec are going to say that their kit is capable of producing SC6.

That's not the problem. The question that needs answering is can their kit produce sufficient SC6 from the ore body available at Zulu? Yes the plant has produced an unknown quantity of a higher grade but that was from cherry picked ore fed intonthe system not the general stuff from the pad.

It's all irrelevant anyway until the report is released and the elephant in the room that is funding is addressed.

SWLC, they haven't stopped dumping, they just need the right average price for the sales. The shares are being sold by PREMs brokers so in order to meet the debt the average sale price needs to be right. Rest assured the remainder of those 1 billion + outstanding shares are being sold

No company worth their salt would part with the cash for a JV role for an unproven non producing plant that requires significant investment for remedial works.

The only viable funding proposition right now is the 2 billion headroom available. That's just not going to be enough to get the plant into production.

PREM is pretty much done for now. So much potential but a lack of credible leadership over the years has resulted in a decimated share price, massive ongoing costs, zero revenue, assets that are pretty much worthless and the liklihood of shareholders being wiped out in the very near future.

I agree there'll be an RNS this week, probably 7am tomorrow announcing the heavily discounted placing of 2 billion shares

Whywatetime & Botuney, the Little and Large of Prem. Heavy buying my ar$e, SP is down nearly 10% and still falling, that doesn't happen when there's heavy buying, quite the opposite when a company has over 30 BILLION shares in issue

GR, bless his cotton socks, has tried his best to get one final pump of the SP ahead of the placing. Lots of suggestions but no actual new information.

Looks very much like the placing rumour from yesterday is true. Could well be sub 0.04 at this rate. No doubt we will find out shortly after close today or 7am Monday.

Wouldn't surprise me if this is true and would expect a HE1 type discount to the SP. China trip es expected was a failure. If this rumour is true then it'll be an after hours RNS tomorrow I doubt he'd want to break the news any earlier. No doubt it will be quickly followed with a request foe an EGM and another 10 billion shares, will shareholders be supportive of such a request?