Member Info for raaydaar

Share below, PREM right now is most definitely not a strong buy, there's a very big risk right now:

1. Likely suspension on Monday

2. GR needs to raise funds

3. Unlikely another company will come in and give GR the cash he needs

4. Stark plant not capable of producing in volume

5. Canmax playing hardball.

For me it's now about a potential takeover by Canmax nothing more than that and worth a small punt but I certainly wouldn't be buying tens of millions

Joey, if Canmax make an offer they dont care about the grades that GR has produced. They'll bulldoze the Stark pos plant and build their own which will do exactly what they want it to do

DrP thanks for highlighting some of my interactions with Snowking seems the fanboys have been caught out hence their silence today, no doubt they're regrouping on their telegramp group and working out how to spin this mess into something positive so they can sell down some more on any future rises.

I said a while ago that this would be a land grab by Canmax and was called all sorts of names by those with blind faith in GR who believed his lies.

That land grab is a real possibility now, my initial thoughts were just Zulu but now I think they'll be coming for PREM as a while. GR has failed at every level in overseeing the Zulu plant construction and optimisation. He has known for several weeks exactly what the issues are and he along with Stockbox have misled shareholders and the market with their contrived interviews. I've watched today's interview and GR came across very poorly, his body language and speech suggest to me that he is extremely concerned. I didn't watch the AGM / EGM but have been told that he looked surprised at losing the option to place the 4 billion shares.

I'm not a fan of GR and have made that abundantly clear, he has destroyed the company he has built through perpetual mismanagement.

That said, right now if Canmax are looking at a takeover, and to me that's their logical next step, then they're gonna have to pay a price that shareholders will be willing to accept.

The legalities of the FM will be decided elsewhere but the imposition of FM doesn't stop them making a bid for the company and a potential 6 month delay doesn't help their cause.

Imho we will see a share suspension following failure to file timely accounts and during the suspension period Canmax will make a formal approach for the company at a price that shareholders won't be able to refuse. In the meantime there will be a raise of some description in order to keep the lights on, that raise will likely be at a discount of around 20 to 25% of the vwap over the week prior to the raise.

I expect this to be announced after hours on Friday (GR usual time for doing these things).

Once that's announced then the SP will drop to around the raise level. If I'm right and Canmax are looking at a bid then I think it's time to get off the sidelines and take a chance on a decent offer coming in during suspension. I honestly can't see another party coming in given the current issues, the risk would be too great so the only chance shareholders have now is to accept any decent Canmax offer.

Next step will be for GR to raise some cash for operating expenses, how much and at what price though?

If Canmax are to make a bid from a 30% holding we should have an idea soon with a TR1 showing increased holdings. I don't think they'll go down that route, I think they'll come up with either a cash offer for Zulu or a cash offer for PREM. The latter is likely preferable to them as not only will they get Zulu but they'll also get the EPO which they can drill. An offer around 1.5p would likely be snapped up by shareholders.

Shareholders would get their full share of any bid accepted. I don't see Canmax bidding for Zulu alone they'll be looking to take all of PREM on the cheap. Question is can GR keep them at bay, I don't think he can as shareholders would likely accept any offer that's reasonable

If they get to 30% they have to make a cash offer for the highest price they paid in the last 12 months

Canmax playing hardball with GR, I suspect they'll now be looking at a hostile takeover, they won't want to hang about for up to 6 months whilst GR fannies about

Any close above 0.5 today would be seen as good. You never know if GR falls on his sword and steps down before the AGM might close around 0.6.

Time for the man who is economical with the truth to do the decent thing before he is forced out.

GR strikes again, anyone care to defend him? You were all warned but chose to call those with a contrary view "idiots" Snowking and the fanboys have their profits banked, it's unlikely they'll appear now until after the placing which they'll be back to defend the 25% discount and sing GR praises and talk of $50mill a month revenue from new projections etc.

Reality is PREM is now done for, sadly GR waited until today knowing that at least he will still hVe a job after the Agm / Egm

Perhaps some of the larger shareholders could come together and have GR removed. PREM might have a fighting chance at survival with someone else at the helm.

You clearly know nothing about PREM, the SP isn't correlated in any way shape or form to the Ukraine, Russia, Warner situation, its correlated simply on the one issue of George Roach being able to tie up a deal with a deadline of today.

Jeez where do these people come from

Slight drop on Russia situation? Wtf planet are you living on?

JaguarFlush, what's gonna be a good buy in price? 0.5? 0.4? You're obviously expecting it to drop. Funny how everyone criticised me for selling at 0.92 saying it was going to 1.5p is now talking of buying in at a good price.

Don't be left holding when the fanboys are selling and taking their profits.

Pb66737, Snowking is trying to stop others selling so he can bank some profits on the inevitable drop. Tell the mug punters tales of mysterious dinners with Stark CEO and snippets of alleged inside info, all the while knowing its gonna tank on no news, take their big profits and leave the mug punters holding shares worth 50% less than they paid for them, but Snowking etc al don't care about mug punters just want to line their own pockets

Snowking, in addition, if there's no news at 7am then those selling probably won't feel stupid as the SP will plummet 20%, 30% or more and they'll be sitting on banked profits (potentially) or smaller losses. You and the other major fanboys can easily absorb that kind of drop and still be in profit and it wouldn't surprise me if you were selling into the drop knowing you'll be able to buy them back cheaper (after all you have enduring faith in GR) so whilst you preach hold and wait, you'll be seeing am opportunity to make a few quid at the expense of your faithful

Snowking, what has a 3 day weekend got to do with anything? This deal is potentially make or break for PREM and if they're not prepared to work out a deal because it's a long weekend then they deserve everything they get if Canmax walk away.

The deadline has been published in black and white, they've had around 3 weeks to get it done and hadn't by Friday.

All this nonsense about a couple of days for nomad approval is just that, nonsense.

Whatever the state of play GR needs to issue some sort of update at 7am tomorrow be it deal done, talks continuing or sorry folks we just couldn't work out the finer details and Canmax have started the 90 day clock running. Shareholders deserve that as a minimum at least.

The fact is going to (has gone) to the wire along with the silence on grades and plant modifications suggests to me that it's not looking and good and all the fanboys should prepare themselves for another shafting from GR minus lube

Others now I had conversations with George, Brendan and Fuad and was lied to at every stage. I don't trust the guy at all and he has proven himself to be a self serving incompetent CEO. He is making all the same mistakes again and will cost investors significant sums. I see history repeating itself and merely want to highlight the issues as I see them. I may be wrong but a leopard never changes its spots and an incompetent CEO will always be an incpetent CEO

All the below sounds like I have a personal issue with GR and to a certain extent I do, back then like Snowking and the other

Oldbutnotout

"FACTS:

General disclosure of price sensitive information - An AIM company must issue notification without delay of any new developments which are not public knowledge which, if made public, would be likely to lead to a significant movement in the price of its AIM securities."

Would the grades of product produced so far that GR stated he should have by now not fit this criteria? Would the plant modifications and upgrades along with revised production estimates not fit into this criteria? Has George Roach failed in his duty to notify without delay any new developments which are not public knowledge?

My posting history is my posting history, I'm extremely positive about ALGW and have put my money where my mouth is and issued several TR1, I'm more than happy to debate the merits of that investment on the ALGW board.

I've a lot of experience with PREM going back to around 2016 / 17 and GR is telling the same stories , promising the same company changing fortunes and doing the same placings he did then. Cost me a lot of money that I made back with other investments including ALGW. I've stated previously and I stand by this that Zulu and the EPO have amazing potential, but GR is not the man to do the job, his track record is clear and the current Zulu debacle is clear evidence he is not fit for the role as evidenced by all the incompetence I've been highlighting over the last 120 or so.posts.

Hammered nobody I've read has been spreading poison, just stating uncontestable facts that the blinkered refuse to consider and prefer to call people names and bandy insults.

1. Has George released the grades produced to shareholders? He should have some of not all results by now but chooses not to release price sensitive information to the market. Ask yourself why?

2. Has George provided updates on plant modifications and upgrades? Parts should have been on site for quite some time now. Ask yourself why?

3. Has George provided updated guidance on June shipment amount and projected numbers going forward following plant modifications & improvements? Ask yourself why?

Updates on all of the above should have been provided to the market and shareholders by now!!

I'd have to disagree there Acker, debate is a discussion of opposing points of view. There's been plenty of opinion on the potential negatives, yet no debate to negate these opinions, just random name calling and subliminal hints about dinners with CEOs but no factual evidence to suggest or even argue that so far GR has not released information on the grades, information that he assured shareholders, in the well scripted interview by stockbox (who incidentally are as much to blame for misleading shareholdeds), that he would have imminently. Nor has he updated shareholders on the progress of the plant modifications.

I suppose there's been no debate because these facts are irrefutable, Snowking and the fanboys, no matter how hard they try, couldn't possibly argue against these facts. They would prefer to call those of us who have experience with GR and know his ways "idiots" and confine us to a "green box"

We called it right when AimHigherStill was being smug about knowing the alleged content of the production RNS (no doubt been fed GR lies by Snowking et al) and we've called it right so far.

Sunday will come and go.

George MUST release something by 8am Monday morning otherwise he has lost any credibility he has left and the sell off will begin.

He will get his headroom at the EGM / AGM and not doubt will have the begging bowl out Monday afternoon if the deal isn't done by Sunday. Not sure how easy he will find it to get a placing away for 4 billion shares, if he can it will be at a very significant discount to today's closing price and won't come close to raising enough to cover the Canmax debt let alone cover the debt and keep Zulu operational. There won't be a knight in shining armour riding over the horizon to pay the debts, why would someone else want to take on the risk if Canmax have walked away?

Will we see Zulu mothballed / put on C&M like we did RHA?