Member Info for raaydaar

Acker you've been saying that for as long as I can remember you posting here and as yet all PREM has managed to offer is empty promises and discounted placings, more of which we will see in the coming days and weeks.

They can expand as much as they like, however expansion doesn't generate revenue, production, sales and export of quality product in volume generates revenue. Something that PREM has not achieved and will not achieve any time in Q3. The only guarantee shareholders and onlookers have is the imminent raise of funds closely followed by an EGM and placing, after which GR will have enough cash for about 3 weeks of operations.

The fact he's only being allowed another 2 billion headroom suggests that Canmax have had enough of the massive dilutions, they know he won't be able to get alternative financing and are starting to slowly reveal their hand.

Metalbasher, I'd suggest you read the relevant Zimbabwean legislation to determine what constitutes exportation of a product. Then come back to me with an apology

Metalbasher, do you actually know anything about the company you're invested in? Have you read any of their RNS releases? Not exporting the sub standard product? Really?

RNS 21st May

"Inspections required as a prelude to export have commenced, and this precedes any export. We do not expect any delays in regard to export permits required."

Why would they need to inspect a product as a prelude to export if they're not exporting it?

RNS 18th June

"Shipment. The lower grade concentrates will now be sold (conditional on independent laboratory analysis underway in South Africa) on an ex-mine gate basis, free on truck from Zulu and payment will be made immediately once the conditions have been met. Zulu will not be expected to deliver production to port, nor will Zulu be required to outlay transport and shipping costs. This will provide a small cash flow benefit."

The condition being the export licence is in place, so that the product can be exported out of Zimbabwe.

Metalbasher, added to that, as you know, any bags they produce post conditioner install will also require to be sampled, sent outside of Zim for testing, the results tabulated and the bags tagged. Looking at how long it's taking for the current 350 bags of sub standard product, its unlikely that there'll be any sales of anything produced post conditioner installation before September, probably October at the earliest, so how do you think GR is going to get sufficient working capital to survive through Q3? Banks won't loan him anything, he doesn't pay his debts. The CZ arbitration amount is now in excess of $2million and increasing. What happens when they decide they've had enough and want paying? Wheres he getting the 2 billion plus shares he will need to pay them? Or will they call in the Bailiffs?

Metalbasher I understand the process very well thank you. I also understand that your beloved leader has quoted "3 weeks for the issue process" and that its a "formality" that was a number of months ago now. GR has known exactly how the process works and has once again misled shareholders into believing its a relatively quick process. Wasn't he in Harare at the start of the application process, getting the telegrampers all excited and buying new boxes of tissues, quoting completely unrealistic timelines?

The placing is coming soon, the EGM will be announced most likely by the end of next week when he has to tell you all that things are delayed and they need working capital ASAP.

Metalbasher, there won't be any SC6 produced in July commissioning of the kit will take until the end of July. They've little to no cash reserves left so without a doubt there'll be a placing before anything more is produced in saleable grades or quantities. Not that any of that matters as they don't have an export licence to sell anything anyway.

Did not George Roach say the plant would be up and running by March 2023, June 2023, November 2023, February 28th (wouldn't need the 29th) 2024,and countless other dates?

Next weeks deadline will be as disappointing as all of the other deadlines and the upcoming raise will be significantly more discounted than previous raises.

RickyK, problem is that they haven't got the capability to sort / remove the bi products so the costs arr significantly higher than the $469 quoted in the accounts. This in itself is misleading and begs the question would the auditors have signed off on a going concern basis is they were given the current more accurate expected production costs? Would they also have signed off on a going concern basis if the company had told them there'll need to be an EGM for much much more than 2 billion shares? Nobody in their right mind can honestly believe that another 2 billion in headroom will come close to providing the company with enough cash jn the short term, they're spend is about $1.5 million a month (when the plant is operational), they've got legal debts to pay in shares (a bit over a billion shares at current price) and a loan to repay. A plant that doesn't work to produce a quality product, just a sub standard contaminated product. No export licence, no customers for the bags of sub standard product. They need to spend money on new sorters, magnetic separator plus god knows what else.

The numbers in the accounts just don't add up in the real world of PREM.

It's interesting to note the production cost estimates in the accounts differ significantly from previously reported estimated production costs, PREMs own figures were circa $800 per tonne and yet mysteriously this number has reduced to $469 for the accounts. If you punch in $800 the DCF is a very different figure that could possibly have led the auditors to come to a very different going concern conclusion. PREM have never ever previously stated production cost estimates to be as low as they've used for the accounts, more smoke and mirrors?

Riddance

NellyB, nothing I say here will destroy PREM. GR is doing that quite successfully all by himself. There is great balance in my views, they provide balance to the ramptastic claims made my some. That is what balance is. I can provide you with a positive element if you want PREM own shares in Circum which at some point this century may return a profit, possibly within the next 2 decades. I'll give PREM less than 2 weeks before GR uses the remaining headroom and calls the EGM, what will be interesting when that happens is will it be for just 2 billion shares or has he been telling porkies to the auditors? We all know how flexible he can be with what he says. I'd say he needs at least 6 billion but preferably 10 billion.

I'm not loaded, I'm very comfortable in a well paying job counting down the 781 days I have left until retirement. You may call me a troll but I see myself more of an information disseminator sharing my knowledge of the company to better inform those penny share investors who can I'll afford to lose money and help them make an informed decision before they press the button.

Better they hear an alternative scenario rather than believe the Charles Archer 3p predictions or Snowkings promises of many multiples. Better they understand there are the nefarious characters out there who would gladly see them lose everything so they can make their 20%.

The penny stocks are rife with the likes of Snowking who talks of taking out loans and maxing out credit cards to buy every available share yet never crosses that reporting threshold, or the likes of James Goozee who crosses a threshold when the price is dirt cheap but mysteriously fails to report when those holdings drop below a threshold, despite the company notifying such a reduction in 2 sets of audited accounts.

Bigdaddy, believe what you want, I don't care, jealousy is unbecoming. All the signs were there you just needed to be able to see them like I did. My life is real no need to be a Walt.

Sprint I don't hold any PREM shares sold them all in the rise to 1p, made an absolute killing, not as much as Goozee and Snowking but enough to pay off my daughters student and graduate loans, buy a new car a fill up a couple of ISAs.

I wouldn't worry about Jaglith, if he's short that's their risk but if they are short it's not in the conventional sense with a borrow, most likely on a spreadbet which can be closed quickly and they'll be in a decent profit right now anyway.

It didn't crash today because the mug punters didn't take time to digest the contents of the accounts, they expected a delayed release so just jumped in when the accounts were released. Once they've been read thoroughly and the realisation hits that there's no cash, an imminent call for an EGM for no more than 2 billion shares, a need for expensive new equipment and the need to use most of that new headroom to pay their defaulted and legally obligated debts before the Bailiffs get called in then the SP will drop. Add in the imminent required placing for working capital and the city vultures will have been thorough in their review of the accounts and will be demanding HE1 type discounts because the Zim banks won't be financing anything until some product is sold and revenues generated that can cover opex and loan repayments on a consistent basis, something which isn't happening anytime soon

He could but he's still legally obliged to issue a TR1 which he also didn't do when he was selling down his holdings to the last notified 910 million, which again should have been notified to the markets

Jaglith, 2 billion shares won't be anywhere near enough, even Acker agrees he'll need a big number, at least 5 billion. Was this just GR saying what he needed to say to appease the auditors? I've had a more detailed read after I got home from work and quite frankly this company right nownis on the verge of going under, some of the statements made in those accounts raise major red flags and anyone buying or holding should really really consider their position.

Question for fanboys, where's James Goozee TR1 notification that he's below 3%? We all know he's been selling after the interims, but it now appears he's continuing to sell and not fulfill his legal obligations to notify the market. That ladies and gentlemen is all you need to know about the members of the PRG, Snowking ramping away, Goozee selling down his holdings along with the rest of them, Noel, Deadeye (needs to pay mum and dad back) etc all at the expense of the mug punters duped by their promises or bullied by their management of the group. They really should be ashamed of themselves, but we all know they're just laughing away at being provided the liquidity to get out. 3p next week says Charles Archer, mug punters buy, Snowking and the rest dump into the liquidity.

Maybe one day you'll all learn how it works, but they really don't care if you've taken out a loan, put in your life savings, home improvement funds or pension. So long as they bank the profits, uou pressed the button to buy and acknowledged the risk, they've now made it your problem, which it always was but they're responsible in reality

That's not good reading. Going concern signed off on a future ability to call an EGM to issue no more than 2 billion shares. Half of that will be needed to pay China Zenith, the rest won't cover running costs for a month.

Financial situation is dire with cash burn at an astronomical rate.

Bigdaddy, the only place I've been caught out is in your imagination, your ability to formulate an opinion based on supposition rather than facts is most likely why you continue to believe in PREM as a viable investment right now. I don't care if people trust what I say or not, however my posting history speaks for itself in terms of understanding the company, its CEO and my understanding of the RNS, anyone who had paid attention would potentially in a much better position right now. That's why people should trust me should they wish to do so rather than listen to the ramblings of a cult member so indoctrinated that they see what they want to see rather than what is actually there and as such talk themselves into believing something that clearly isn't true.

Tomorrow or perhaps Monday we shall see just how much of a mess GR has made over the 12 months accounting period. I for one am looking forward to hearing what possible positive spin you and the others can possibly come up with. Will either be very interesting (with a lot of the cult coming round to reality or attempting to spread the Snowking gospel) or very quiet, either way the sells will be coming in large numbers and the placing will be at an even greater discount to today's close, unless of course GR knew this and he announces the placing tomorrow too. That's really going to kill the SP and I reckon the placing takers will become long term holders