Member Info for raaydaar

Snowking, how can he make a shipment in a couple of weeks? He hasn't got an export licence. From everything he has stated in that presentation, there'll be no shipment before May at the earliest. Too many issues that will take a lot of resolving over time, certainly not quick fixes

My understanding is that since market is closed he can release price sensitive information providing an RNS is issued prior to market opening on Tuesday

These are some of the questions that should be asked

1. In a previous interview you stated that a quantity of SC6.18 was produced by the plant, approximately how much has been produced? Grammes, kilograms or tonnes?

2. Is the plant running continuously or are there periodic stops for maintenance?

3. Is the plant running 24/7

4. According to the circular for the AGM, its stated that "Those Directors who hold Ordinary Shares intend to vote their Ordinary Shares in favour of the Resolutions to be proposed at the AGM" is this confirmation that Canmax are supportive of the Resolutions and will vote in favour of both?

5. The sorters are clearly a less than minor issue, what is the expected minimum (realistic) timeline for the required modifications 

6. With current hand sorting of ore, what is the average tonnage of ore being fed into the mill on an hourly basis?

7. Is plant optimisation for production of saleable quantities of SC6 or better possible whilst hand sorting and feeding of ore in process.

8. Until the sorters are optimised, is it realistic or even possible to expect the plant to be able to produce 1000 tonnes ± 10% on a monthly basis?

9. Why has the company not chosen to make an open offer to existing shareholders who have been loyal and supportive of the company, who would welcome the opportunity to invest further in the company rather than allow the city hyenas to profit from a quick flip of their placing shares?

10. Have mining costs reduced or are they still  circa $50k a day? 

11. What's the current opex of the company on a monthly basis?

12. Is your position as CEO tenable given the continued failure to succeed on every project undertaken by the company?

13. Why do you consider your loan to the company to be in default?

14. Is the proposed headroom of 4.5 billion shares enough considering payment to Goddards, your loan and the arbitration payment, considering any placement of shares for a cash raise would be done at a significant discount?

15. How long would the cash raised from utilising the full 4.5 billion headroom last at current cash burn assuming production of 1000 tonnes per month?

Nice to see some difficult challenging questions being asked there by Snowking, really going to put George in a corner about the lack of progress. May as well have asked him if he could stick his head up his ar5e

Wasn't invested in PREM in 2015, ask me how much I made with the run up to RHA or how much I made on the run up to 1p knowing Zulu wouldn't produce? Those 50 million shares I sold at a 0.9p average made me a pretty penny at over 10 times I paid for them.

I'm a canny guy, I buy the shares I know I'll make money on, that's why I'm a major shareholder here, it's an investment, PREM was always just an obvious trade on the ramp and the hype, George Roach is not an investable CEO, Prem is done for imho, I wouldn't put another penny into it now, not even for a trade, it's a dead duck fighting for survival.

Exactly Wullie, and that's why they've carefully worded "Those Directors who hold Ordinary Shares intend to vote their Ordinary Shares in favour of the Resolutions to be proposed"

Looks to me like Canmax won't be supporting the headroom increase and hence why GR is on the PR trail to try and get this through

Dazed I understand your frustrations with PREM and the imminent insolvency when Canmax aren't supportive of the upcoming headroom increase to 32 billion (yes BILLION) shares. No placing coming here and if I'd sold out or indeed any significant amount then there would be a TR1,as I am fully aware of my obligations as a major shareholder.

You're pathetic puerile attempts here are wasting your time. You'd be better off buying some ALGW than risking your pennies in PREM

The only fact I've quoted is:

"Those Directors who hold Ordinary Shares intend to vote their Ordinary Shares in favour of the Resolutions to be proposed" and Luo Wei holds no Shares.

Why make such a carefully phrased statement if they had the backing of Canmax? Surely something akin to "The board and major shareholder intend to vote in favour of the resolutions" would be much better

Wullie yes the board to recommend, do they recommend unanimously or by majority? I'll refer you again to the very carefully worded sentence

"Those Directors who hold Ordinary Shares intend to vote their Ordinary Shares in favour of the Resolutions to be proposed" and I'll point out again that Luo Wei holds no shares in PREM

Wullie, you might want to read that very carefully phrased sentence again.

"Those Directors WHO HOLD ORDINARY SHARES intend to vote their Ordinary Shares in favour of the Resolutions to be proposed ...."

Dr Luo Wei doesn't hold any shares in PREM,he's merely a representative.

Lloydy they have previously voted against an increased headroom, who's to say they're not going to vote against it this time around. GR has had enough chances, maybe its time to let PREM fail and get Zulu and the epo for peanuts, if not for payment of the debt owed. They can then bring in their own people or engage a competent company to get the plant producing.

El-Gel, of course he's going to cherry pick the questions and certainly won't address any of the more difficult ones that shareholders want answers to. Just another PR stunt to try and push the SP up.

Hasiba, you're assuming that Canmax will be supportive of the possible future dilution.

As for the brokers voting "uninstructed votes" I favour of resolutions, well that's a new one on me under UK legislation. I've heard of it, maybe in the US but certainly not here. As a beneficial holder of a share only I have the right to cast or withhold a vote at an AGM or EGM be that in person or by instructing a proxy, nobody else can legally use my voting rights.

Hasiba, I'll say it again as a FACT, Zulu will never ever ever ever ever ever run continuously. I know that, George knows that, anyone with the slightest smidgeon of knowledge about Zulu knows that but you presume to interpret words from Geroges mouth as a fact that most certainly is not how you're making it out to be.

Hasiba, the plant is not working continuously, it will not ever ever ever work continuously. He said that it had been running continuously for a few hours. Do you honestly believe that it hasn't stopped running at all since the interview?

Mugwump

"This supposedly incompetent CEO has discovered vast amounts of valuable lithium and then organised the building of a complicated mine in the middle of nowhere in the African bush "

The valuable Lithium is only of value if he can get it processed into a product he can sell. Something that the complicated mine he has built is incapable of doing.

"He conjured up the funds to build the mine in a very short time from arguably the most useful partner available who has virtually unlimited amounts of money availble to use if it is needed to further advance their own investment in PREM."

Perhaps he should have waited a little longer or built mine that conformed to the specifications suggested by the scoping study. The partner may have virtually unlimited money but they're not willing to part with any more of it to GR, hence why they haven't taken part in most recent placings, or offered additional funds to GR so he wouldn't have to dilute shareholders.

"The mine is now working continuously for the first time "

Are you sure about that? It had been working continuously for a few hours but will have to be stopped for remedial works.

Facts are plain and simple, they're hand sorting ore so will not have the capacity to feed the plant sufficient quantity of ore to produce anywhere near enough for a shipment. The plant, according to George, cannot be fully optimised until such time as the mill is being run at capacity, that cannot happen until the issues with the sorters are resolved, something and isn't going to happen any time soon.

If Canmax are supportive of the headroom raise or not GR will be issuing billions more shares just to pay the accrued debts, then throw in the need for opex costs at $60k a day he's going to need a lot of cash and very quickly.

Back into the sub 0.2s before the AGM and then low teens if he can negotiate a reasonable discount on the placing, city boys will be smelling blood though, so could be a disastrous discount for shareholders

Definitely no news on Friday

Nelly I cannot tell you who participated only that Canmax did not as that would have been a related party transaction and the market informed accordingly. The market was not informed of a related party transaction in this respect.

If Canmax were fully on board they'd have taken part in the last couple of placings, as they have first refusal on any fundraise, they chose not to.

Their position is clear, they've provided GR with all the support they're willing to provide, it's now up to him and he's not doing a good job.

This is a pretty fair and decent summary taken from a balanced telegram group.

With #prem is it going to be a case of history repeating itself? They had a scoping study that provided a suggested plant design, they chose to employ a company with no proven record in constructing a lithium plant, they allowed that company to design and construct that plant to a very different design to the scoping study. The CEO (I think) of that company tool to social media on a massive promotional scale which accompanied with the aide of certain individuals in the prem research group telegram sought to "leak" certain untrue information to others in that group who in turn took to social media preaching it all as the gospel truth. As we have seen that was not the case and yet these individuals still seek to promote so much which isn't factually accurate. The plant is now in PREMs engineers hands, what can their engineers do that STARK couldn't? GR is bringing in the OEM guys, at what cost? It's pretty unlikely they'll produce and ship SC6 this month, they've got the mining contractor back on site to feed the plant, a couple or three interviews GR said the ROM ore was virtually all gone, it's costing between $35k and $50k a day for the mining plus associated costs, so say at best $50k a day, they had enough cash to last until 29th Feb (production date) so are now nearly 3 weeks out of cash and burning $50k a day so just about another $million in debt and no production in sight.

GR is gonna have to raise very very soon, talk of traditional financing was allegedly based on production but no details on how much or at what grade.

Zulu is a massive asset and has immense potential but atm PREM is uninvestable until the financing issues are sorted, I'd rather wait and see than part with my hard earned.