focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Typing from mobile so excuse the typos. :)
This map of known worldwide lithium deposits is worth a look: https://www2.bgs.ac.uk/mineralsuk/download/global_critical_metal_deposit_maps/G2122_052_V4CMYK.pdf
Most of these are still in exploration stage.
PREM has attracted many new investors recently and I'd guess a few big fish looking at the regular and large rounded trades for weeks now. Not so subtle accumulation.
These kinds of folk ain't stupid and they know once the company presents an updated resource to the market with proven lithium that the valuation will be much higher than it is today. More so as lithium production is only around the corner. Makes sense to load up rather than wait on the sidelines for a dip that may not come and then miss argubaly the single biggest of piece of news of the year.
Anyone who wishes to part ways with their shares fair play to them, but given the attention this has now it seems we have plenty of buyers, small private investors and larger players who'll happily take their shares from here. After researching peer companies further behind and the fundamentals here, we can see the valution is due a correction northwards.
Lithium Carbonate prices rising I see and spodumene lags behind this. Looking quite conservative now to say we'll be selling at 4-5k per tonne and 5-6k per tonne looks on the current trajectory seems likely. 6-7k not unrealistic either.
Looking strong but company valution still too low when compared to peers. I think the resource upgrade when it comes will do wonders to correct this.
Managed to catch up with recent developments and am very happy.
*Lithium price has gone up an extra few notches this month already
*Accomodation camps / workshops looks well underway in September in the latest tweets
*Latest Sept RNS mentioned the geotech drilling was nearly done (soil and ground testing), which should mean the ground is ready now for plant installation and other structures to be built. RNS also mentioned equipment is being mobilised - excellent
*Can see on Twitter they're making a headstart and good progress with the dam - all cleared and dam wall being anchored
*November work begins where the open pits will be
*Production commences 4 months from now after this quarter, on track, fully funded and within budget
Resource upgrade statement remains the wild card, could see it dropping anytime this month or next. Could also see an earlier interim upgrade first, as the bulk of results are in our hands. I've seen a few companies release interim upgrades before and then deliver a full updated resource a little while later. That way you satisfy the market in two stages. Will be a great day here when it drops. I'll continue buying more this week whilst the shares are available under 0.4p.
P.S Cosmonaut, you speak absolute nonsense. PREM is using SGS for core testing and assays - guess who has also used SGS? That's right, Atlantic, the company you have cited as to discredit this company. I am aware that Atlantic is around 2 years away from getting any lithium out the ground. I am also clued up on that their shareholders were not happy that the board gave away 50% of the rights to the Ewoyaa Lithium project to Piedmont.
As for global recognition, Stark Resources who are designing/engineering the plant are very well respected with a global footprint. Lets not least forget PREM is now in bed with Suzhou TA&A valued at round 5billion, Yibin Tianyi (largest lithium hydroxide producer in the world) and CATL (largest EV batter producer in the world) who supply Tesla, Ford, Mercedes, BMW, Toyota and the rest. You waste your efforts and too many seconds of your life on this board, there's plenty of this information around in the public domain that no one is listening or buying and selling their shares based on what you post.
When the share price gets to 1p, why would it stop there. There are listed companies which aren't producing already at a market capitalisation equivalent over 1p despite being further behind this company. Fair value once producing is 2-3p I think. Then over 3p once the production capabilities expand and we see further growth of the resource over the next few years.
https://www.ig.com/uk/trading-strategies/top-10-uk-penny-stock-for-investors-200123
Premier African Minerals (LON: PREM)
Premier African Minerals shares are up 89% year-to-date to 0.36p. PREM owns shares of multiple projects, including the RHA Tungsten mine, the Otjozondu Manganese Mining Project in Namibia, and the Danakil Potash Project in Ethiopia.
However, its crown jewel is the Zimbabwe-based Zulu lithium claims that could represent the largest undeveloped lithium mine in Zimbabwe. Moroever, with the lithium spot price at a near-record high, long-term demand for the silvery metal is likely to remain elevated as the EV revolution accelerates.
CEO George Roach has enthused over recent assay results, and expects its pilot plant in the Zulu claims to ‘remain on target for hot commissioning in Q1 of 2023.’
Great post. Fundamentals here are very solid and the company is further down the road when you compare this to lithium exploration companies home and abroad. The macro climate for lithium, battery metals and EVs is also the right sector to be in now and this decade. The current market captialisation does not appear to have priced this it in yet so I think we'll get quite an explosive rise from here. Next quarter the company will be an early to market producer and generating substantial revenues from the get go, whilst other lithium companies have to seek funding and develop their projects and future mine builds in a tougher climate.
Looked in to this enough that it's a comfortable long-term hold for me and like the progress being made.
" To date Premier has received approximately $24 million of this pre-payment."
Can't say for 100%, but would safely guess in this case the "to date" is referring to September 30th. As wording such as "end of June" or "June 30th" would have been used here if referring to funds received by the end of the 6 month period. It can also be inferred as such as $17mil or so was handed over in August. Would make sense more of the funds were provided between then and date the RNS was issued.
@ProfitBags, I assume to date refers to September 30th, rather than August. $24million out of the $34.5million received up until yesterday.
Thanks, managed to get some in the 0.34s and 0.35s. Yes, demand for shares seem strong and I can see why after the latest news release. Seems like there's less than a dozen new lithium projects coming online in 2023 and most are far away from development. This is one of of the few and fundamentals are compelling. If listed on the ASX would already be worth in the 100s of millions.
Hello all, this been on my radar past few months and I just took the plunge here. Wasn't expecting to get an entry at this range and bit of a gift after all the developments this year! Looked at all the lithium opportunities in the UK and this one appears to be the best one on our markets for the remainder of this year and next. I compared PREM to other listed lithium companies on other markets and in the UK and can see the uplift potential is significant.