Member Info for raaydaar

Curiouscymraes there's nothing fanciful in those posts, just an opinion that has so far not proven to be incorrect. If anything Laverda appears to have experience with mining operations so their opinion could be more valid than the majority of people here.

Fact is we are now just about 8 days from the Canmax deadline, every day closer is a day to a deal not being done. Anyone claiming otherwise is deluded. Grades are allegedly unknown, yet some fanboys here claim the bags are (have been) reprocessed to achieve the required grade. Does that mean GR knows the grades and knows reprocessing is required? Recent videos show production. That's great, plant is producing (or was when the video was filmed) and we have fanboys claiming the spod looks much whiter etc. Yet no grades. The onsite lab should have been up and running for at least two weeks (if GR is to be believed), samples sent to labs in Zim have still not returned grades?? Is that really believable? GR knows the grades are inferior and has done for quite some time. Canmax will know what grade is economically viable for shipment to China for processing and my guess is PREM just isn't making the grade right now.

The June shipment won't be happening and the projected Stark figures for future production will slip. If Canmax walk away, PREM are dead in the water, placing headroom won't give GR anywhere near enough to cover the debt owed to Canmax and keep ZULU online at current cash burn. This is RHA all over again but with different excuses.

El zorro pierde el pelo, pero no las mañas.

Section 23 of the Finance (No. 2) Act of 2019, reads:

“(1) For the avoidance of doubt … it is declared that with effect from the second effective date [i.e. the 24th June 2019], the British pound, United States dollar, South African rand, Botswana pula and any other foreign currency whatsoever are no longer legal tender alongside the Zimbabwe dollar in any transactions in Zimbabwe.

(2) Accordingly, the Zimbabwe dollar shall, with effect from the second effective date … be the sole legal tender in Zimbabwe in all transactions.”

Jaguarflush, how do you work out that lower grades means more bags? The plant has a production capacity. That capacity isn't increased with lower grades! If it produces 10 tonnes a day its 10 tonnes a day no matter what the grade be it plain old dirt, SC4 or SC6 it's just 10 tonnes.

There's lots of rampers on here who will have you believe complete hogwash like lower grades equals more bags!!

Fair Enough SK but Pilbara are producing a grade that's 0.2% short of the 5.5% so it's likely economically viable to ship that grade to China, is it economically viable to ship SC4 or lower?

Canmax asked for SC6 for a reason, they'll know the cost implications of shipping lower grades. Until GR confirms with Canmax the grades Zulu is producing then they're not going to sign any agreement and will only sign an agreement if the grades are economically viable for them.

I agree Joey and I believe he has known for a long time, certainly when he did the stockbox interviews and when he allegedly sent emails to the telegramp group. No doubt they too are now expecting bad news and spinning it as best they can. Just over a week left for Canmax to ink a deal and 10 days have passed without a signed agreement.

Snowking, you could have posted that video yourself, after all it was you whonpostednit in the telegramp group.

Those concerned about grades have a genuine concern, lower grades equals higher quantities to produce the Lithium Hydroxide, some of those sites quoted in the video with lower grade spod have conversion facilities either on site or nearby so a lower grade isn't necessarily a bad thing. Prem will be shipping their SCx to China for processing first by road then by cargo ship then by road (or train) that's a massive cost and whilst I'm sure with SC6 grades it's fine I'm not so sure it's economically viable with lower grades.

PD101 How much Lithium have they produced so far? All well and good having the resource but if you aren't capable of getting ot out of the ground and process it at the right grades?

PD101 don't know about technicals but sentiment doesn't look strong at all, several bits of big news way overdue, Grades? Plant modification progress? Will shipment targets be met?

George keeping shareholders in the dark, but making sure he's got the opportunity to dilute shareholders. Any placing going to be at a significant discount, price will continue to drop every day without news as shareholders finally realise that GR hasn't an ounce of integrity in his body when it comes to being honest with shareholders.

Your decimal point could well be out of place, maybe 1 position to the left could be more appropriate if this Canmax deal isn't signed

NellyB, I doubt it's onsite and it certainly wasn't installed at the time of recent interviews

MWil, what's in the current bags is very relevant as it's supposed to be part of the June shipment to make up the forecast tonnage.

Can't see them hitting anything close to those projected numbers of SC6 by the end of the month

Overandout121 and everyday that these things don't happen more and more people sell to manage their risk exposure because if the deal isn't signed, The grades aren't SC6 and need reprocessing thereby reducing projected shipment tonnage by a factor of X then the SP will drop significantly

Steward any news will have to drop before the 26th, the Canmax deadline is the 25th and every day closer to the 25th without news is a day closer to that deal not being signed

He can do the placing and get everything in place ahead of the AGM then once the headroom approval is given at the AGM he gets the cash.

He would of course only do this if things weren't looking good with Canmax

Horult,

GR CAN do a placing however it would have to be conditional on the approval of shareholders to increase the headroom at the AGM

Is Google qualified to give financial advice? Does Google consider all the evidence available or does it just work on algorithms?

Nobody should buy or sell stocks based on what an algorithm suggests and anyone suggesting that they do so... Well says it all really.

Kk17 your response suggests that you did indeed take the time to read my post so you're a liar.

Do you think telling me to pi5$ off is going to make me leave? You are clearly deluded in more ways than one. My life is excellent thanks and even more so because I don't have to worry about any money I've invested in PREM right now.

Mark my words GR will let you down and won't think twice about screwing you over at the next placing opportunity.

I'm already out thanks at a much higher price.

Where's your way out?

Canmax have their way out, GR has his potential placing option way out (at what will be a significant discount)

The future of PREM rests right now on the ability of the plant to produce SC6 in sufficient quantities on a regular basis.

It's a binary play now, if they can then all is good and the price heads back to 1p. If they can't then SP plummets and those who didn't take a cautious approach end up losing money. GR has form with RHA which cost investors a shed load of money, everyone who was invested back then knows exactly how he misled shareholders and I'm seeing the same here.

It's a gamble, the grades of what's been produced so far are key metrics for anyone looking to manage their risk. The fact that GR is keeping that from the market is very telling. He knows exactly what the plant is currently capable of producing and knows exactly how much money he has left and how long it will take to rectify the issues but even then there's no guarantees they'll make the grades and it's highly unlikely they'll get it done before the 25th

Kk17 you're right about 1 of your statements. Which one I'll let you decide

Oldbutnotout, you cannot state that PREM have what Canmax want.

Right now PREM don't have anything, just 200 or so bags of something that they hope is Spod. Until confirmation is received about what it is they've produced then Canmax won't be signing any agreements hence giving GR till the 25th. The closer that day gets without confirmation of grades the closer it gets to Canmax walking away and they will walk away as they're not going to pay for something they can't use or give GR more money to produce something they cannot use

Oldbutnotout, you're right when you say ". PREM has a mining operation for Lithium which Canmax wants"

However there is a caveat in that Canmax wants spod of a specific minimum grade which as yet we don't know if Prems mining operation can produce.