Member Info for raaydaar

Hikewithcaramel, do you understand what warehousing of trades is? I guess not.

1. The logic of the step up:

He's done 2 raises since the EGM grabted him 35 billion along with 1 contractor payment in shares.

He raised 500k at 0.0185 and 100k of contractor payments at the same price. 15 days later he raise 750k at 0.0126.

How does that protect the headroom by raising at higher prices? The first was at a 26% discount to the closing price on 10th March, the second was at a 31% discount to the first raise, the risk isn't reducing its actually increasing as each discounted raise ensures they CANNOT raise sufficient funds to complete the commissioning process, in fact they'll be over 50% short of the required monies.

What didn't he use the full 35 billion at 0.024 when he had the chance?

2. The admission day reality check

The sells are there they're just being warehoused for release in the next couple of trading sessions. Exactly this happened after the last placing.

Your remaining scenarios are pure speculation and wild guesses.

The Maths doesn't lie, without the money they cannot progress

Hikewiththecaramel, problem is that if you need tonraise new funds every 2 or 3 weeks the sp cannot recover to a suitable level whereby the next placing isn't 25% pr more less than the one they've just done and use far more of the headroom. It would have been better bonuses the full 35 billion at the first opportunity get ad much working capital as they could and then get to work on the plant.

Was it because GH was being careful and raising only when he felt it necessary or was it because there's no interest from the city in providing PREM with the £ millions they need as they see too much risk so will only give them smaller amounts at continued discounts?

If they needed $13.4 million to get the plant commissioned how do you think they'll be able to complete the commissioning processes and release that mystical RNS when they're $6.7 million short of being able to fund the process?

Manning, and another 2 weeks before that one.

Hikewiththecaramel,

Your numbers may be correct but they burned through £500k in 2 weeks, stated they needed $13.4 million to get them through to the end of Q2 and as things stand will find themselves around $6.7 million short with the headroom available to them.

That's the bottom line and no matter how you dress it up in terms of not requiring the diesel, not physically mining or running the plant machinery, the company doesn't have sufficient capacity robraise the capital they need to complete the commissioning process. At current rates, they'll run out of cash at the end of this month.

Hit the market tomorrow, won't be good news for the sp. Cash at hand likely to run out this week so expecting another discounted placing for a couple of weeks cash next week and then another EGM call.

Acker you've been spouting that same rubbish for at least the last 2 probably 3 years

Q3 2023 will be transformational for PREM

PREM will be AIMS stock for 2024

Q2 2024 will be transformational for PREM

PREM will be AIMS stock for 2025

etc etc

GH appointment as MD doesn't change anything, whilst he has a plan he is about £5 million short of being able to fund that plan so unless he can find a magic lamp somewhere in the Zulu ore body and be granted 3 wishes, he cannot bring that plan to fruition, even if he could there's still no guarantees that it will work.

Anu, if you haven't bought any shares and you're the alleged super trader of PREM, then why are you recommending others buy shares now?

Anu, please regail us with how many you've bought at these levels whilst telling others they should be buying.

Show us all how high calibre a trader you are

Acker, Goddards did not "withdraw" legal proceedings, they suspended enforcement as long as PREM comply with the agreement. Judgement against PREM still exists and should they miss a single payment then enforcement of the writ will take place.

Ackers definitely lost the plot. There's zero chance of additional finance coming outside of another placing, any company having done due diligence on PREM would run a mile at the thought of doing so.

I'll give you some food for thought. PREM by their own admission needs around £6.7 million to get them through to the end of June. They've now got about 28.8 billion shares left to place.

Closing price today was 0.0133p so even without a discount if GH could use all the shares (and it seems the city aren't interested in giving him large amounts of money) then the most he could get before costs would be a little over £3.8 million.

Assuming the money won't last 2 weeks and a discount of 26% for £1 million the next placing will be around the 0.096p mark for about 10.5 billion of the remaining headroom, 3 weeks later a further placing at the same discount would use all the remaining headroom and raise at 0.007 for just over £1 million before costs.

Leaving them around £4.7 million short of what they claimed they need. Even a best cast scenarion of raising at 0.0126 leaves them over £3 million short of what they say they need.

Cash burn is massive, can't raise the money they need, why would anyone risk investing here. Anyone buying now will inevitably lose the majority if not all of their investment. Long term holders like Snowking who maxed out credit cards and took out loans, or Hasiba who bought truckloads of shares and bought truckloads more whilst claiming those of us with a negative view were wrong have lost all of that money. Anyone buying now will lose all of their money, it's even too dangerous to attempt to trade this at any level, the lower it goes the greater the risk and yould be crazy to even attempt it for anything other than beer money.

They're sells from yesterday moat definitely not buys

Forfaiter, it's not tight, it's impossible to raise the money they need with the headroom they have available.

Snowking, you've absolutely no idea, living in your little PREM world.

They've burned through £500k in 2 weeks, this £750k will last about as long then it's another raise to keep the lights on. They do not have the capacity to raise the funds they've stated they need to lastbuntil the end of Q2. At this rate they'll run out of headroom by the end of April.

Acker may not be bothered by the dilution but anyone else with money invested here ought to be.

The company clearly stated that they would require $10.4 million to complete the installation and commissioning of the new float plant and to keep paying salaries and bills and had 35 billion shares available to raise those funds.

So far they've managed to raise (after costs) about $2.25 million leaving a requirement for a further $8.15 million which equates to about £6.1 million before costs so about £6.7 million including costs and have 25,804,375,804 shares left with which to raise that money the maths is simple and clearly shows that the current headroom wouldn't be enough for half of the money they still need.

Where's the rest of the money going to come from or will they revert to not paying the bills again?

Ackers problem is that he's become a believer and talked himself into thinking PREM is a sound investment opportunity.

The sceptical Acker could read between the lines of an RNS and as we all know what's not said in a PREM RNS is far more important than what is said.

Goingtomoonufo, your information is rubbish, what happened to the RHA offer? Another pathetic attempt to ramp up the SP.

Anu is bad with numbers and you're clearly bad with dates. Early March was weeks ago, it's April next week, or did you mean March 2027?

GH little attempt to get the SP up has clearly failed. One thing he's probably happy about though is that the liquidity has returned and is enabling the placees to finally sell their shares and he can go back to the market and ask for some more money, not sure he'll get much, if any, as I doubt they've seen a return on their placing shares. Could he be forced down the open offer route? Or worse a CLN?

Given their reputation for not paying their contractors, I wonder how much cash up front the new team will be demanding?

Where's the mythical audit report?

Well if IG are sating PREM closed at 0.212 then it's safe to say they're pretty useless, or maybe it's just Anu that's pretty useless, my guess is the latter

You can't, you couldn't get the borrow to short them.