Member Info for raaydaar

Luthee, you're right of those 30 RNSs were the following:

15th February 900 million shares raise @ 0.275p

21st May 781.25 million shares raise @ 0.16p and issue of 983.5 million shares to contractor @0.16p

19th July issue 900 million shares to contractors at 0.075p

8th August issue 2 billion shares to be sold at an unknown price.

That's a lot of shares issued at ever decreasing prices.

Thats a lot of RNSs full of promises that were never achieved or were simply misleading.

A lot of money spent and no production or revenues achieved. Whatever happened to the 350 tonnes of sub standard product he was selling? I guess the grade was so low nobody wanted it.

Shared from another group by a knowledgeable holder:

"Back in December 2022 I had; £2bn AUM, 0.5% revenue (absolute minimum if they were just simple life insurance policies?), conservative P/E ratio of 10x, 431m shares, 23p share price? Share total a little higher now but not much…."

Great thing is it continues to remain under the radar allowing accumulation in relatively small amounts. MMs now seem to be delaying anything above NMS suggesting they don't have much stock so will get caught out as and when the herd arrive. More than happy to keep adding smaller amounts and keep the SP within its range until news

Plaserman, there's always hope but that's just not enough, the cold hard facts suggest that for GR and PREM investors, unless they can raise a significant amount of cash quickly then all hope is lost

Plaserman in order to produce the plant needs modifications, in order to do those modifications you need staff on the ground that are paid for the work they do. You also need funds to cover all the additional costs required for the modifications. Funding that PREM currently does not have and at current levels won't be able to raise sufficient working capital to get the plant running let alone producing to a suitable scale and quality to generate revenues

I'd disagree Boags, when you haven't got enough cash tonpay your staff, splashing out 50k on an all expenses paid trip to London for meetings that could have been held online is a lot of money. Was it one last hurrah on expenses for GR before he loses the company and shareholder monies?

Boags, ask the staff at zulu if they think 50k is a pot in the grand scheme of things, that's probably enough to pay their wages for the month and feed their families.

BOAGS, do you think GR and Brendan played for their own business / first class flights? Their own rooms at the £420 per room per night? Their own meals? The meals and drinks of those they were trying to take the placing?

That was all done on expenses, I'm very sorry they didn't buy you a beer to help drown your sorrows at being a PREM holder and continually seeing you holdings diluted and decreasing in value.

Plaserman, none of the cash raised was given to contractors, they were paid with 900 million shares which they're selling because they want cash. The cash raised by GR was for general working capital which he seems to blow through at an alarming rate.

The problem he has right now is that he has no cash, 10 days on expenses in London to get the mug shareholders to support additional headroom to pay something he said he was going to pay from the AGM headroom and for additional working capital. Dilution which GR openly admitted was coming, yet after 10 days in London he couldn't get the raise away.

One of the most liquid stocks on AIM has now seen the liquidity pretty much fall off a cliff to next to nothing. Ask yourself why that is? Ask yourself why the city haven't supported a placing for working capital? I can give you over 2.3 billion reasons. Now Ask yourself how long has each of the last couple of raises lasted? Do the maths et voilà you have worked out that the company have no money and allegedly haven't paid their Zulu staff for 2 months.

PREM screams out "sell sell sell" the red flags flying from every structure at Zolu are visible from space.

The contractor has only 2 trading days to dump the remaining 300 million plus shares before GR has to start selling the 2 billion to settle the CZ debt (minus interest). The contractor knows those shares are expected to be admitted on Wednesday so will likely now get what cash they can for the remainder before the increased downward pressure commences.

Out of interest does anyone know when the interest payment will be due and how it is to be paid?

Speaking of being paid, has anyone had any confirmation on the legitimacy of the article stating the GR hasn't been paying his staff? I've emailed the company for clarification but haven't had a reply and note that they haven't made comment through social media to deny the allegations.

Pjmcgra if Canmax were interested in stepping in they would have done so already. They're more than happy to watch GR fail and when he does they'll get Zulu in lieu of the debts owed by PREM and bring in a competent contractor to extract the product.

Hasiba when a company goes into liquidation the assets are worth a fraction of their cost value. Zuku plant a machinery may have cost $50 million and to a liquidator its probably valued at $5 million at best. PREMs assets wouldn't cover the debt owed to Canmax in a liquidation scenario.

Dukey, if there's a buyout of PREM, shareholders will get the money equivalent to their holdings at the buyout share price, so if you hold 10 million shares the buyout price is 0.1p you'll get £10k. If Zulu is sold, GR may elect to pay a special dividend to shareholders but more than likely would use the cash to pay the debts and use whatever left for working capital. If PREM go under shareholders will get nothing, the assets will be sold for pennies in the pound and the money raised used to pay the debts at pennies in the pound

An hour into the trading day and only 171k shares traded. Will take months to get through 2 billion at this rate

This RNS clearly shows how much trouble PREM are in. CZ to be paid in cash not shares. Money to be held in trust (so GR can't spend it or the administrators use it). Another 2 billion more shares to be sold, why on earth would anyone buy PREM shares now knowing full well the company is selling their own shares to try and pay debts, the contractors are selling shares to realise the monies owed to them. Something in the region of 2.75 BILLION shares are to be sold just to try and pay the debts. If that's not enough then he'll have to issue more shares. Then there's the fact they've got no money. The other 2 billion he'll need to use to raise will now be at a MASSIVE discount.

PREM is done for

How do you work that out Sprint, as it stands PREM costs are $800 plus shipping until such point as they can ramp up to 4000 tonnes and have guessed that their costs will come down at that point to a random figure that hasnt been independantly verified but looks good on paper. Until that happens they're losing $18 per tonne at today's price.

Doesn't make any difference though as they're not producing anything, have little or no cash and no ability to raise enough meaningful capital to last more than a couple of weeks

WWT 51% of RHA isn't owed by anyone, the knowledgeable posters are fully aware of thisbfact

As much as it's possible that Zulu staff haven't been paid, this particular article is a fake.

At this rate a sub 0.05p close is possible which means GR won't have the shares to pay CZ or (if he decides to risk not paying them) enough shares to raise any decent amount of working capital.

Looks like the writing's on the wall for PREM now, I can't see any way out of this downward spiral

By my reckoning they've got about 400 million left to sell. Going to take a while with these volume levels, I reckon it wont be too long before they just take what they can get rather than hold out for around 0.06p. How long can GR wait before he has to do the raise?