Member Info for raaydaar

Dazed is there really any headroom left? For what purpose did the board urge shareholders to vote in favour of the headroom increase at the AGM? Has GR used the headroom for those purposes? Or have shareholders been misled once again?

He's just another PI as far as we know. Another 1.5 million off of the free float is great to see and he is clearly confident in the company.

The TR1 holders now have about 44% of the free float and all appear to be long term holders who believe in the company and its potential. My family separate to my holdings have between them circa 4% and then Giles Fitzherbert and Mrs Fitzherbert hold a little under 3% so that is indeed around 50%. The telegram group has a number of people with fairly decent amounts so I'd say that there's about 60% of the freefloat in sticky hands.

So all in all not a great deal of stock availability. As we all know the share price moves upwards very quickly on volume. Market will eventually wake up to the potential here, when I last spoke with GS he stated they were still on target for the $2 billion by 2025 which is now a little over 6 months away.

The telegramp group are hilarious, still clinging onto the longstop. Folks PREM won't survive to the longstop date, the agreement is worthless. The true and real worst case scenario is PREM run out of cash, which they're doing quite quickly, and the assets are sold for pennies in the pound with shareholders seeing zero return.

You guys keep on believing Noel and Snowking, end up with nothing whilst they walk away with their profits. Don't let them control the conversation, ask the questions and get booted, then you'll know the truth. Goozee has been banking his profits and now he's below 3% he'll be selling like there's no tomorrow to bank whatever he can. Snowkings been trading his position and will continue to do so at the expense of the mug punters.

He's not being altruistic with his posts he's wanting the best price he can get.

No doubt in concert with Snowking to give him some liquidity.

With the recent dilution there'll be a TR1 to come.

According to the PREM website Goozee now holds 910,000,000 shares (as at 18th February and could now be much less) precious to this he was reported to have 1,031,745,473 so whilst the mug punters were buying on Snowkings promises of untold wealth, Goozee was selling 121,745,473 shares and I've no doubt Snowking having ramped his own book was selling down his holdings too.

When the TR1 comes out look at the numbers, has he been selling further? Can't have too much faith in the company now can he?

Gazza I guess only a buffoon would ironically continually misspell the word he is using to convey idiocy.

I'm confident with my timelines, GR stated 1000 samples to be taken, ground down, sent to independent labs outside of Zimbabwe, tested, results collated, tabulated and returned to PREM and then the bags tagged. It isn't a speedy process, as we know from other samples sent to labs outside of Zimbabwe the results take many weeks to be returned, the samples are tested in the order they're received and go into a pile of other samples from other companies and await their turn for testing.

How do you propose GR gets access to funding? He can't sell anything he's produced so far. Costs and debt continue to accrue (even with the plant not running), plant fixes aren't cheap and he's running out of cash. No headroom left, unless he chooses not to fulfil his legal obligations, even then he can only raise enough to keep the lights on for a couple of weeks post placing.

Bargainseeker,

Plant still has major issues that will not be resolved any time soon. Costly issues at that, 0 tonnes of anything being produced, preserving what little cash they have left, drowning in debts they cannot afford to pay even with a raise utilising all the available headroom. Export permits won't arrive before July at the earliest more likely August. Company is pretty much done for unless they sell what assets they hold outside of Zulu. I doubt Canmax would be supportive of an increase in headroom so he'll have to go down the death spiral route with an open offer thrown in to make it look like he cares about shareholders.

Rll I admire your optimistic, best case is production in mid July with then Inspections of product and samples sent outside of Zim for analysis taking 6 to 8 weeks during which time costs are mounting and no cash. He has to raise to cover working capital and legal obligations both of which equate to billions more shares jn issue, at least 5 but more like 10 and I don't know how he can spin this to shareholders and get their support

A question Canmax have already answered by not investing any further funds into PREM.

You can live in your little insulated world or you can enter the real world where PREM is in dire straits financially with no financial support from Chinese multi billionaires, a world where the next raise is coming at around 0.06, a raise where if Noel is to believed, Goddards aren't selling because they're mates with GR and they're business van absorb the bills an take PREM shares that now need to go up 100% to get the money back.

Noel you're doing your best to spin this but you're really clutching at straws now. Goddards are dumping their shares to get whatever they can. I wouldn't be surprised if Goozee is getting rid and getting what he can, Snowking is certainly offloading , they can all see the drop that's happening and not stopping.

Metalbasher the last round of institutional investors got caught out and couldn't flip their shares and are now unfortunately long needing a massive increase in SP to break even or just cut their losses learned their lesson and will hammer GR for a massive discount next time round, assuming they consider there's a chance to flip even at a massive discount.

Botuney, again, why would a multi billion $ company that has a major shareholding which is required to maintain that level of shareholding in order to receive a guaranteed amount of offtake choose not to maintain and guarantee that offtake amount when given first refusal to invest?

It's a simple question and I'm sure you have an answer that will satisfy all those shareholders who are waiting on your every word to share your infinite knowledge on how PREM is not now set up to fail.

I look forward to your answer

Metalbasher, GR won't have any choice but to let it go when it's insolvent. They've got very little cash remaining, debts coming out of their ears and no ability to raise the headroom without an EFM that, if what I'm reading right within even the telegramp group, will not be supported. For far too long GR has raised by putting the fear of suspension into shareholders minds, now they're so frustrated they just want it over and done with. I'm not convinced the city boys will support a cash raise now so maybe its just death spiral CLNs on the horizon. PREM is done for. If GR wants to save the company and believes fully in Zulu then he needs do sell all the other assets and focus on one single project. If he's not prepares to do that then it's goodnight Vienna

Luthee, deranged is a word I use appropriately in context.

Here's what's happening:

A multibilllion worldwide conglomerate (longstanding and experienced) from China has taken a small stake - for them - in a Zimbabwean project/company.

The reason? To source spodumene for their numerous operations on every continent. Patience is their moto - their only goal is a high quality product

The Zimbabwean project/company has failed to deliver the high quality spodumene despite assurances that they could and would be able to do so.

The multibillion worldwide conglomerate had ample opportunity to increase its investment in the project/company to guarantee its offtake of high quality product. Unfortunately the project/company has failed to deliver any product at all, let alone any high quality product. The multi billion conglomerate has chosen not to invest any further monies into the project/company because it has lost faith in its management ability to deliver the high quality product it requires. The multi billion conglomerate is frustrated at the project/company inability to deliver any product and now awaits the project/company to fail and move in with its own people to rectify the numerous issues and deliver the high quality product it requires in house.

Botuney, I'll restate, if he cared about the success of PREM then Canmax would have maintained their position to guarantee their offtake as per the agreement or increased their shareholdings to further support PREM, after all they had first refusal on any post offtake agreement raises. They have chosen to do neither, that alone should tell you exactly where Canmax stand as far as Zulu is concerned, they're happy to watch it fail and certainly aren't prepared to throw any more of their multi billions of dollars at the project. So yes you are deranged if you think anything otherwise, and lost in your own little world if you can't see exactly how they're playing this. They're allowing GR to be hoisted by his own petard.

Because he's irrelevant, a figurehead and has no interest in the day to day running of PREM, his business is Canmax not PREM, when PREM fails he'll either take Zulu and start his own lithium producer, do a deal with whoever takes Iver zulu or move in to the next supplier.

You're deranged if you believe he has any control over what happens with PREM, if he cared one jot, Canmax would have continued to secure or even increase their % shareholding by participating in the placings, the fact they haven't tells you all you need to know about how confident he is in PREMs ability to produ e

Just for feedback to Noel in the group, it's not the highest price paid by anyone in the last 12 months, its the highest price paid by the bidder in the last 12 months. So if company X is bidding for PREM and accrued 30% or more of the shares over a period of time and the highest price they paid for those shares in the last 12 months was 0.13 then that's the minimum bid, not 0.9 if that's the highest price paid by the mug punters over the 12 months

Vagabond no single mug punter bought the shares it was worked over many transactions.

Just had a look in on the telegramp group and it seems Noel is still as ignorant as ever as to how things work and poor Ross, who despite his firm beliefs in GR was at least willing to consider the downside has now had his admin privileges revoked. I'm not sure even Noel, Snowking and Deadeye could manage to spin their way out of this. Noel is trying but his lack of knowledge will soon be seen through by the now dissenting masses.

Vagabond there is indeed generally a buyer for every sell, and with a worked sell of that size its numerous small mug punters who believe this is a bargain. Ask yourself why someone feels the need to offload that many shares onto the mug punters. They're certainly no longer confident in their investment in PREM. Yet the mug punters contjnue to provide the liquidity for the large sellers to continue to offload. The mug punters are the ones that always suffer by providing the liquidity in the misguided belief that they'll somehow make some money. All the while the offloader is banking the profits, otherwise why disguise the fact you're selling?

Vagabond do you even know what at UT is?

Mugwump there are so so many things that will prevent PREM from producing anything in the near future let alone the numbers you talk about longer term. Let's do a list to clarify the issues for you:

1. The company is haemorraging cash, and has had to cease operations to conserve what little capital it has left.

2. The company is haemorraging cash and hasn't sufficient headroom remaining to fulfill its legal obligations to pay lost arbitration

3. The plant doesn't work

4. The sorters cannot sort black from white, they will need to be replaced. At what cost to a company that has no cash and no current headroom to raise further funds?

5. The plant is contaminating itself and the magnetic separators cannot remove the most magnetic element known on the planet. What cost to replace the mag sep for a company that has no cash and no current headroom to raise further funds?

6. The ore body isn't as good as the company had hoped and even the hand picked artisinally mined ore just isn't making the grade.

7. Vast majority of the last raise has been spent on a conditioner that won't guarantee anything

8. Control units that are incapable of doing their jobs independently or in concert.

9. A vastly I competent CEO who has lied to and deceived shareholders at every single stage. A CEO who refuses to accept culpability and fall on his sword. A CEO who will blindly allow the Company to fail rather than admit defeat and get someone in who might be able to turn it around. Probably much too late for that now though.

It was a worked sell, not a buy