Member Info for raaydaar

Wolframite, the fanboys are the ones that have cost people money, their jncessant claims of x pence on x event ramped people in who subsequently saw the value of their investments fall drastically. I'm merely painting a different picture which it would appear is a more accurate reflection of the subject in front of everyone rather than the more abstract or surrealist version the fanboys are portraying

Acker what tripe has been posted today? What tripe has been posted previously by some on here, I'll refer you to your assertion that GR wouldn't be selling any shares and instead would put them up for collateral. That was tripe.

Fact is those of us with a negative slant on PREM have been proven correct time and time again, the fan boys and the fan boy fans can't see what's staring them in the face.

Sad reality is the fanboy fans are too brainwashed by false promises and random picked out of the air numbers that they won't accept an alternative viewpoint and instead revert to name calling and conspiracy theories of rival companies here to disrupt. The facts speak for themselves, GR has made an almighty mess of this plant, he can blame Stark all he wants but PREM and above all GR had oversight of what exactly has happened at PREM. He failed miserably and as a result many many many people have lost a lot of money, and more. Culpability lies with one individual and he's doing his best to deflect the attention and the responsibility. Unless a Knight in shining armour appears soon then PREM is in an extremely precarious situation going forward, a possible discounted raise unlikely to get enough to pay Canmax (with interest), no viable product being produced and a powerful, influential wand wealthy partner that is potentially overseeing the downfall of the company.

Gotta love the fanboys with their wild speculation on numbers, 0.7, 1p, 2p.

Absolutely no idea!

GR selling £1.7 million of his own shares will see the price drop. He could have put in £1.7million of his own cash but why risk losing another £1.7 million if PREM goes belly up. This way he's only gonna lose what he would have lost anyway.

There won't be an RNS next week confirming phase 1 completion. There'll be an rns about further delays.

There won't be an rns about production any time soon and certainly not in July, GR played the game with the rns yesterday. There most certainly won't be any shipment rns any time soon given they've not actually produced anything of note to date.

All that's coming is a loan to keep the lights on through the CEO selling shares, then either a massively discounted placing (if GR gets the numbers) or a massively discounted rights issue and placing. Dilution to shareholders either way and not a cat in hells chance of the price getting anywhere near those predictions.

PREM more likely to go bust before any meaningful product comes out of Zulu. The Chinese are setting their stall out to make sure they grab the asset which was their plan all along after GR came up with his fast track plant idea

Malden are you pulling numbers out of thin air? Where does it say that PREM will have to pay interest at 2%? The interest that PREM will have to pay was clearly stated in the RNS of 24th June 2022:

" If the Supply Commencement Date does not occur by 31 March 2023 or there is a substantive delay in the subsequent supply of SC6, then Premier shall pay interest to Suzhou TA&A at a reasonable interest rate that represents Suzhou TA&A's actual funding cost for the delay"

Acker it won't go to arbitration, canmax will claim their differences are irreconcilable and the matter will be dealt with in the courts with summary judgement in Canmax favour citing the existing legal precedent that Force Majeure cannot exist for failures of plant or equipment.

Johnny I am looking at PREM objectively and as I see it at this time there isn't a case for investing, the risks far outweigh the potential rewards at this time

As I said GR will be selling shares, doesn't have the confidence to dip into his pocket and stump up the cash. I guess he tried the "collateral" route and got laughed at.

Never held KOD, no intention of holding and never posted there.

Perhaps you should post factual points rather than the ridiculous positive spin on what is clearly a car crash of an RNS. I'm most definitely not the idiot here, I can read and understand what I'm reading. You on the other hand.....

DazedandConfused, those two words show that Canmax are aware of their legal obligations to wait 10 more days before going any further, not that they are willing to talk. They've made it abundantly clear to GR and he has made it abundantly clear that they are walking away from the prepayment agreement.

"

Alans55:

Canmax are walking away, FACT, to quote the RNS

"Canmax who have made it clear that they seek repayment and cancellation following the remedy of the Force Majeure,"

10 day "talking period" is a legal requirement, FACT

Arbitration is optional, FACT

Legal precedent exists in Singapore that will allow ruling in favour of Canmax, FACT

GR desperate, FACT

GR does it again!

1. Canmax are walking away from the prepayment agreement, there's absolutely no doubt about that. The 10 days is a legal requirement before they can progress to the next stage.

2. Arbitration won't happen, either side can decline if they believe there is no resolution to be had. This will go straight to the courts in Singapore.

3. Court will rule in Canmax favour (a legal precedent exists that states failure of plant machinery does not constitute grounds for FM), PREM will have to cover all Canmax costs as well as their own, be ordered to repay the money plus interest and also a compensatory amount.

4. PREM hasn't and won't have the cash to cover these monies

GR is desperate right now, you can hear his voice shaking as he dictates the request (plea) to shareholders to vote through the headroom.

Anyone with any sense would have to seriously consider the extreme risk that is now associated with owning PREM shares.

The telegramp group don't care, they've been trading their way to a free ride for months now and the likes of Snowking will continue to spout their confidence and spin the bad news as best they can, all whilst selling down their positions and leaving the mug punters holding the baby. I'm sure they're all geared up and freeing cash for the very discounted placing (should GR get the headroom) and then they'll be spinning it all again to maximise their profits

"Certainly"

I'm certain that you're not certain.

The next rns is potentially make or break for PREM, I personally wouldn't want to even attempt to call it either way. Far too much uncertainty right now, risk vs reward weighted more towards risk as I see it. GR silence continues to speak volumes as it has previously and we all know what happens when he opens his mouth after a prolonged silence.

Assuming (and I disagree with this line of thought) that FM exists until Zulu in full production in Q1 which is potentially beyond the 6 month limit for the validity of FM, arbitration is the next option, however I suspect that Canmax will refuse arbitration given that a legal precedent exists in Singapore which states that Force Majeure cannot exist for the failure of plant equipment. I would expect that if it does go to court then the ruling would be in favour of Canmax and PREM would be ordered to pay the repayment amount, plus interest (including for the the period of the alleged FM) plus considerable legal fees and an additional compensatory amount. Where's that money coming from?

The number of shares I hold is irrelevant to the discussion be it 1, 10 or 10 million

Hasiba, for clarity I do own PREM shares

Noba, funding is most definitely required as PREM have little or no cash. How those funds will be raised and exactly how much will be needed to keep the lights on is a matter for debate and then the next question is how much more will be needed to get production going to the levels alluded to in interviews?

Noba, I've no idea what you've been reading, watching or listening to but GR has at NO POINT EVER confirmed he will not be issuing any shares for funding. He pretty much did the opposite at the EGM / AGM but got voted down on the disapplication of preemptive rights.

Making such a statement is extremely misleading and indicative of th the brainwashed attitude many here seem to have.

Acker, I very much doubt that anyone would accept an amount of GR shareholding as collateral for a loan to keep operations running at zulu. The risk is way too great. I'm not trying to spook anyone, merely providing an alternative viewpoint on the situation which is needed given some of the more ludicrous claims by some on here.

Investment in PREM right now carries significant risk and anyone invested or looking to invest needs to consider those risks to make a balanced decision, if the name calling etc hadn't drowned out those with a contrary viewpoint then perhaps things would be very different for a family right now.

These boards are for discussion on the share both positive and negative. Let's debate the issues prove each other wrong on the topics at least that way anyone looking in gets to see both sides. All this name calling etc serves no purpose.

Let's discuss and debate in a friendly manner

Hope1068 it's likely heading down to those levels either when the discounted open offer comes around 0.35 or GR announces he's sold shares to keep the lights on

MikeePikee, you obviously slept through the last stockbox interview.

Around 21 minutes in he says:

" I will make available to the company sufficient, sufficient of my own stock, my own shares, to enable the company to manage its way through this existing situation"

My interpretation is he's gonna participate in the open offer. If that interpretation is wrong then he's going to sell shares to provide a loan to the company. He's a relatively wealthy man, does he not have the confidence in his company to just provide a loan? Does he not have enough confidence that he feels the need to sell his shares?

https://stockboxmedia.com/interviews/premier-african-minerals-ceo-talks-to-the-canmax-off-take-situation-shareholder-questions-prem/