Member Info for raaydaar

Snowking there'll be no new offtake partner, no potential future partner would take the risk of paying off the debt against a plant that has proven not to work efficiently, hasn't produced any quantifiable amounts of SC6 to date (unless GR is deliberately withholding price sensitive information), will only be able to access 50% of anything that's produced. Their DD would tell them it's a massive risk to get involved with PREM and give GR tens of millions of dollars when he claims FM when things go wrong. His reputation is in tatters right now and his issuance of FM suggests that he cannot be trusted as a business partner

Puma makes an excellent point. FM exists because PREM allegedly couldn't foresee the plant issues. Stark interview today states that those plant issues will be resolved in 2 weeks (or so) and allow for 50% production ramping up to an alleged 125% once the ball mill is in place (contaminating the ore with iron filings). The state of FM can no longer exist once the plant is producing and therefore by its very nature becomes invalid at the point that production restarts and at that point the 90 days begins and PREM will have to find the cash to payback the prepayment and interest will continue to be accrued for that 90 day period at the agreed rate and if PREM can't find the cash then I've no doubt there'll be additional penalties to pay along with a substantial increase in the rate of interest. This debt could quickly run up to $100mln with interest and penalties. Where's GR getting that kind of cash from?

As wealthy as GR maybe I don't think he will be able to fund PREM operations and cover the additional costs for long. Assuming they can get to 50% operations producing SC6 in 2 weeks time they'll be burning through around $250k per month plus whatever needs to be covered up to the start or production and legal costs for the FM dispute. Right now GR has just 1 buyer for the product in Canmax, they could well turn round to GR and say that until FM is resolved they're not willing to buy any product or will only buy in the agreed amounts off 4000 tonnes at a time of SC6 and could require that each bag be independantly tested for quality prior to shipping. This will put significant pressure on PREM and GR pockets.

Are they deep enough?

Canmax aren't going to take GR games lying down and will most certainly play hardball.

• Plant capable of SC6, only GR knows what's been produced so far and doesn't seem to want to tell shareholders.

• 6 months minimum to achieve possible 125% nameplate, in the meantime 50% possible in 2 weeks - I guess that's includes all the wet material that is being put to one side so in reality it will be less than 50%

• Ball Mill for wet material. As GR has already states in the walk through video a ball mill will contaminate the product with Iron, which was a bad thing but GR seems to have changed his mind and is happy to produce a contaminated product.

Happyhols, where has it been stated that the plant has produced SC6? Why hasn't GR released the lab results that he must surely have by now?

Why hasn't the nomad approved the release of the Stark interview? What have Stark said in that interview that they don't want released in the public domain?

Just watched the video as been away for the weekend.

Well it seems that nothing has changed and the same old bluster from GR mouth.

The FM issue is what it is and if it goes to Singapore for arbitration then it could take up to 12 months.

Right now PREM has pretty much zero cash and isn't producing SC6. Plant modifications will take time maybe as much as 2 weeks to get the new sorter installed which increases capacity by 50%, yet the mill isn't working and needs repair and or an additional mill to be brought onsite. Now this additional mill is of a sort that will contaminate the product with iron which GR stated in his walk through video is a bad thing.

Running costs continue to be accrued and at circa $500k or more per month GR cannot personally cover those costs for a sustained period.

Right now nobody is buying whatever PREM is producing, Snowking has stated whatever is being produced needs reprocessing to get to grade, so whatever is being produced is sub standard and no amount of additional tech will change that, the new sorter will likely just produce 50% less sub standard product that will still need reprocessing.

PREM may well be in advanced talks with other parties but quite frankly who in their right mind would risk the best part of $40 million plus for the chance to get 50% offtake from a pilot plant that is producing a sub standard product and a volume way below nameplate capacity?

Just wait until PREM and GR run out of money and get what you want in the firesale for cents in the dollar.

They probably could do a rights issue but who would part with cash for shares that they can't trade, potentially couldn't trade for up to 6 months or could potentially be demister after 6 months?

I personally don't think the accounts will be published on time because the company had to appoint a new auditor and I don't think they'll have had the time to get what they need to do done. Suspension will help the cause to a certain extent but will be a hindrance when it comes to needing to raise and will likely put off any potential new partner.

Snowking has told the telegramp group the grades aren't good enough, Stark allegedly telling people plant is capable of SC6 but it's down to the grades going through the system. So it's either crappy grades going in or it's a crappy plant. GR says the grades are good, STARK say the plant can do it. Somebody isn't telling us everything.

If Snowking and the telegramp group "George is Inspirational" gang are to be believed then George knows the grades but keeping it quiet. The man is a devious snake and economical with the truth at best.

Tomorrow will be good for a trade but definitely be out before close. Nobody wants their cash tied up for ip to 6 months in suspension

Turns out GR does know what the grades are but choosing to keep it quiet. Snowking uodated the telegramp group last night with tales of a call with George who was inspirational etc etc but one key thing he said in his rousing speech to rally the troops and re-tint their rose tinted glasses:

"In terms of what is in the bags, once new equipment up and running the concentrate can be re run to improve quality"

If the plant can't produce the right quality spod there'll be no white Knight coming in to save PREM noone else is gonna pay for low quality spod. Company needs a lot of funds and quickly.

Snowking also stated that GR is willing to support the company himself if needed.

So George Roach I challenge you to put your hand in your pocket and pay the Cammax prepayment back to them with interest and take repayment from the sale of spod from zulu.

We all know that this is going one way right now but it's out of order to be mocking and insulting towards people who are losing money on their PREM holdings. Nobody wants to lose money, we all invest having done research and base our investments on that research and we've no doubt all lost money at some point. What's galling for me is that many newbie investors will have invested here and as part of their research will look in here and on twitter and the telegramp groups but will not have the benefit of a nalanced view as anyone with any negative thoughts was kicked from those groups They are guilty of costing people what are perhaps significant amounts of money that they really cannot afford to lose. The likes of Snowking and AimHigherStill should be ashamed of themselves and given Snowkings absence of late I'd hope that they are and won't show their faces here again

latino if anyone wants a cheap entry here all they need to do is wait until about 08:00:01 tomorrow when yhe shares will be down another 30%, by 08:00:59 they'll be down 50% nothing anyone says in here has any influence on the share price.

those of us with a more negative viewpoint have provided balance and what has turned out to be a more factual representation of what's happening compared to those suckered in by the telegramp pandora group who are now locking their wounds wondering how on earth they can spin this cluster ******* to suit their rose tinted gr is our hero, canmax need us more than we need them narrative.

i'd be surprised if you could get the borrow to short prem shares

Jaguar, I've clearly stated I've previously owned PREM shares, I put in £100k at around 0.3 and sold them in various tranches up until exiting completely a few weeks ago with my last tranche selling at around 0.93 because there was always gonna be a sell off as the price approached 1p. I then bought a fivers worth just to shut people like you up when I was questioning the grades and plant upgrade silence from George, and foolishly I bought another £5k the other day after the drop on what was imho a binary play of Canmax staying or going. Canmax are going, PREM are screwed and the fanboys will be selling their free rides tomorrow if its not suspended at 0730. Goozee will also be selling no matter what he says on twitter, his not going to risk losing it all if PREM continue trading and will get what he can against risk of them going bust

Additionally, Devils_Advocate, they wanted debt converted into shares, yet they blocked GR ability to issue additional shares by disapplying preemptive rights. What does that tell you? They want PREM to fail. It's a land grab pure and simple. My guess is they'll forgive the prepayment and interest for Zulu and all its assets including the plant. Move in and say thank uou very much we can get this working for grades and tonnage. In the meantime PREM ..............

Devils_Advocate you're right that Canmax believe Zulu to be everything that PREM have said it is and they do indeed want wants in the ground, in fact, as I stated weeks ago, they want Zulu and by allowing GR and PREM to fail on an epic scale they've now essentially bankrupted PREM and will get Zulu for a song

Whatever is being quoted in terms of the FM, ultimately its validity will be decided jn arbitration and or a court of law. Both will take time and incur significant legal expense. Does PREM have the funds to pay lawyers to defend the inevitable Canmax challenge to FM, can they raise enough through a rights issue for the above and also enough to continue operating Zulu plant and producing spod? It's not looking too promising right now, no cash, no ability to raise significant cash. Potential suitors aren't going to want to stump up the money required to pay off Canmax for a potential 50% of the offtake from a plant that currently is incapable of producing any decent volumes of product.

It's not looking good right now and I'm not sure that GR is capable of pulling off the miracle that will be required to keep PREM in business

Gazza Canmax still have 13% of PREM as far as we know so they do indeed have voting rights and more than enough to call an EGM to have GR removed

As I suspected a few weeks ago when GR was in silent mode and the fanboys were calling me names.

Canmax aren't messing about, GR has well and truly screwed this one up.

Would love to be a fly on the wall in the telegramp group right now.

Absolutely awful that so many have fallen foul of GR and the fanboys lies and fantasy visions of the future.

I'd be very surprised if PREM survive this as a company, I can't see GR being able to raise enough cash to keep the lights on and cover the inevitable legal expenses. I suspect he will have to sell Zulu and then hopefully have enough to drill the epo and keep PREM afloat

The signing of the "Offtake and Advance Payment Agreement" and the supply of lithium concentrate

Premier African Minerals Limited (hereinafter referred to as "Premier" or "Seller") is a

Listed on the exchange's AIM market, the main business is mineral exploration and mining. In March 2022, Suzhou Tianhuaxin

Energy Technology Co., Ltd. (hereinafter referred to as the "Company" or the "Buyer") signed the "Share Subscription Agreement" with Premier,

The company invested £12 million in Premier and acquired 30 shares issued by Premier at a price of £0.004 per share.

100 million ordinary shares, holding 13.38% of Premier’s shares, and being the largest shareholder of Premier, the company owns

Fifty percent (50%) off-take rights to Premier Lithium Concentrate Products.

In July 2022, the company entered into an agreement with Premier and its subsidiary Zulu Lithium Private Limited (hereinafter referred to as

referred to as "Zulu") entered into the Offtake and Prepayment Agreement (the "Prepayment Agreement") for the products of the Zulu Pilot Plant,

It is agreed that the seller will deliver 48,000 tons of lithium concentrate products to the buyer per year, and the expected supply start date is January 1, 2023

between March 31, 2023. At the same time, the company has paid the seller in full in accordance with the prepayment agreement.

Prepayments.

2. Progress in the implementation of the prepayment agreement

According to the prepayment agreement, if the Zulu pilot factory supply start date is not on May 30, 2023 or

occurs before, the buyer has the right to notify the seller in writing to terminate this prepayment agreement, and the seller shall

(90) days to fully repay the advance payment with interest.

On May 25, 2023, Premier emailed, confirming that "no products will be available until May 30, 2023

In response to these expected default risks, the company, in the spirit of good faith cooperation, communicated with the counterparty on follow-up cooperation matters

Fully discussed and negotiated, and agreed to advance the cooperation with June 25, 2023 as the deadline, but ultimately failed to

Sign the new agreement before the aforementioned deadline.

In view of Premier's apparent breach of contract, in accordance with the rights conferred in the prepayment agreement, the company has in 2023

Formally notified Premier in writing on June 28, deciding to terminate the prepayment agreement and requesting full repayment within 90 days

advance payment and its interest.

3. The impact of the termination of the prepayment agreement on the production and operation of the company

The company actively deploys lithium concentrate supply channels, and has cooperated with Pilgangoora, AMG, AVZ, Global Lithium, etc.

A long-term supply agreement was signed. By investing in upstream lithium resource companies and signing long-term purchase agreements, the company participates

I'm confused now with GR understanding of the required remedy for the mill.

In the rns he states:

"the remedy to the Force Majeures requires either the supply and installation of new EDS mills, or the addition of an additional conventional ball mill that is not immediately available."

He talks of potentially needing a conventional "ball mill" yet 3 minutes into the video he clearly states that a ball mill will essentially contaminate the product with iron which is a bad thing.

So the potential remedy for Zulu is a ball mill which will then produce a contaminated product?

Why would he even consider a potential remedy that he knows would supply contaminated product? I always thought he was incompetent but now he's clearly telling us all he hasn't got a clue.

Hopefully the larger shareholders will seek to call and EGM and have him removed.

Joey as much as we all want to have the grades published it's clear they have produced spod at a grade that would be acceptable to Canmax as they wouldn't have wanted to change the agreement for 100% of the production.