Member Info for raaydaar

Anglebox, yes theoretically less dilutive but it raises 2 questions:

1. If the Goddard shares were forward sold then how do they get them back?

2. The RNS stated that the funding would be used (in part) to pay the mining costs. Is that to pay Goddard in cash, if so that's circa $2 million of the placing gone leaving very little to cover the remaining costs.

I guess that next week will be key to understanding the cash position and confidence in achieving SC6 (or better), if he calls for an EGM he's not confident and his level of confidence will be determined by how much headroom he asks for.

Personally wasn't impressed with the interview, as usual Mark didn't ask the questions that needed to be asked (or maybe he did and they were edited out), more waffle and bluster and reliance on others for issues that he was reliant on those same others to sort out 12 months ago. Same old same old George.

Hasiba, what progress has been made by PREM?

As I see it, it's been a year of failure after failure after failure. A year of GR misleading shareholders, a year without production, a year of placings, a year of not being able to get the kit to do the job it's designed to do.

RickyK you don't understand what I said. If the Goddard shares were forward sold then those shares exist in portfolios. If they weren't forward sold then it's not an issue, if they were then someone is in very serious trouble

Been through all the numbers and read the RNS several times. The thing that concerns me is that GR has issued more shares than he has authority to issue. Nowhere in the rns is it stated that Goddard have deferred their share payment to a later date (or to be paid in cash at a later date). If they had done so then I would have expected this to be stated in the rns for clarification. Many people here and in the telegramp group reckon that the Goddard shares were forward sold. If that's the case there's an extra 769 million shares out there owned by people who have bought in good faith but are the owners of non existent shares. How do PEEL, PREM and Goddard address that (if its true).

If the case is that Goddard have deferred, how will PREM get the cash to pay them? By all accounts current spod prices will cover expenses and whilst there's talk of technical grade spod being possible it's unlikely to come out of the plant on day 1.

Once again he is reliant on third parties to get the work done and not accept any responsibility for his poor oversight, once again the nomad has refused to sign off on the RNS. Once again Snowking at al were allegedly buying the other day and here we are with yet another placing and this one pretty much says its to keep the lights on. All looking a bit dodgy as far as I can see.

As expected as this raise was, I'm intrigued. Where have these shares that he has issued within the existing authority come from? I'll need to do some digging and number crunching but I'm fairly sure he didn't have 900 million shares available to raise funds.

Daz423, you were indeed correct.

Only yesterday DeadeyeBeaky posted "Daz you seem to have a thing for me. But you're barking up the wrong tree with assumptions of an orchestrsted ramp with Prem"

Don't think he can now deny he isn't part of an orchestrated ramp. Absolutely shocking behaviour. The wrong uns always get found out in the end

Acker, it does matter and it certainly calls into question his integrity (I would expect a school teacher to have honesty and integrity as key character traits), it calls into question each and every post he has made on X and proves the corrupt nature of the telegramp group of which he is an administrator and claimed in here not to have undertaken actions he has been accused of wrt that group and the removal of anyone with a less than positive view over the past 12 months

RickyK,

Let's go back to November when Stark knew full well that the plant wasn't capable of producing, the following conversation between Deadeye and GM took place which Deadeye posted in the telegramp group.

https://paste.pics/5ea603588943e7f3b331c961d5e75ef1

Now tell me there's nothing untoward about agreeing to leak information from GM. I don't care if he was taken in by the bull or not, its manipulative, unethical and possibly illegal

Alma, the directors are indeed accountable and whether you or anyone else likes it or not they provide the required periodic updates in the form of the annual accounts and the interim results. They fulfill their obligations in that respect. Any additional information released by the company is because they are obliged to do so because such information is market sensitive or they choose to release information which they think shareholders may find useful and GS has fulfilled his obligations in all these respects.

I'd say that shareholders need to take some responsibility for their own portfolios and if they're not happy or concerned about a particular holding they should do something to allay or confirm those concerns and have the information they individually need to make an informed decision about their investment. You won't be able to do that by moaning on an Internet forum.

Deadeye you do indeed orchestrate ramps within the telegramp group, and your underhand dealings with GM and your collusion with him to "leak" information was unacceptable. You refuse to allow any negative discussions within the group and choose to remove anyone who argues with your narrative.

Have you tried reaching out to the company and having a chat with GS? It's frustrating that we've gone so long without any concrete news and that the SP is stagnating where it is. A few of us had a chat with GS and Neil not too long ago and I'm happy that things are progressing. The whole team are working hard, the AAACX fund has had circa $19 million additional funding from Institutional investors and as we know from the November broker uodate that they were in the process of doing DD on another acquisition.

They'll release news as and when they have it, just a matter of waiting.

Interview was pretty poor, I'm certainly unconvinced that he will have anything produced by end of Feb let alone SC6 or better. Hand sorting won't get sufficient tonnage through the system and God only knows what's wrong with these sorters if it's a simple as being able to differentiate between Black and White.

Expect there'll be a sell off into the close ahead of the conditional placing RNS, or financing on very unfavourable terms RNS

Hasiba I'm fully aware of what George said in the interview and fully aware of what they've produced in a lab from hand picked samples. What the actual plant will produce from the ore being fed into it is however a likely different grade

Daz I think you'll find PREMs estimated (not independently verified) opex is $800 per tonne plus $152 per tonne shipping costs so their best guess is $952 per tonne, spod prices would have to increase significantly for PREM to see any decent profits, if however they continue to fall?

Hasiba can you explain how they've overcome all the financial support issues? My understanding is that they've pretty much run out of money and as yet have nothing in place for further financing of the project, or have I missed something?

Milnrow, there will without doubt be a placing, contractors have agreed to be paid in shares for invoices up to production, GR has a loan to be repaid in shares, these alone will require the issuance of a large number of shares.

Cashburn as we all know is significant and the company current cash position is somewhat constrained, every day that passes without confirmation of alternative financing is a day closer to a call for an egm. It could be tomorrow it could be Friday, but if he hasn't got financing in place very very soon then he will have to call for an EGM in the guise of it being prudent to do so for any future requirements. The number of shares he asks for will tell you everything you need to know. If he asks for 5 billion, chances are he's going to get the alternative financing, if he asks for 10 billion or more then it's a sure fire sign he'll need to use it quickly. He'll tell you he has "no intention of raising at this time" then a day or so later He'll announce the discounted placing.

Zulu won't be producing this month, next month at best if everything goes to plan and the bills and staff still need to be paid.

Hasiba, welcome back, I've missed your constant "I've added more at these bargain price" type posts back when it was 0.6p and falling. Seems it wasn't such a bargain, will you be adding more now?

Ra11adw2 you've hit the nail squarely on the head. Market has finally woken up to the situation that PREM is in wrt lack of cash and is fully aware that no matter what Snowking and the others will tell you, GR will have to call an egm to raise the headroom and then issue hundreds of millions if not billions more shares just to pay contractors what they're owed. That's assuming he can manage to raise funds for opex from other sources, which is looking increasingly unlikely as each day passes. Goodwill only lasts so long after which bills need to be paid.

I'd suggest you go back to accountancy school Tom, or rather just go to accountancy school.

I'll refer you to note 14 of the annual report

"Investments are held to back unit-linked liabilities. Any increase or decrease in their value is matched

by an associated decrease or increase in liability to policyholders. The segregated account liabilities

follow the similar fair value levelling as the segregated account assets."

Another non committal quote fro GR, doesn't instill any confidence whatsoever

"we remain committed to production in late February provided only that all commitments made by contractors are met"