Member Info for Shark41

Yikes...

The thing I don't understand is that the company legally has to have enough funds for an orderly wind down (happy to be corrected but I think they have to adhere to this as part of their listing on LSE/AIM).

Due to the above, I think they would have to go into liquidation if this wasn't in place....by end of month.

I can't see how GH would have taken this on if he didn't see light at the end of the tunnel. Because of that, I think they already have a solution (verbally confirmed but not formally/legally confirmed)...I think they are just going through the process of notifying Shareholders for technical materiality risk with this RNS.

I could be totally wrong with above statement but I'm moderately certain that this will scrape through.

Definitely not worth the risk of buying more shares..as a current SH I'm just going to hold and cross my fingers!

@Jaglith

Are you actually a shareholder of Prem? Everyday you come on here posting consistent negativity. If you are a shareholder who has lost alot of money then obviously your tone is understandable but if you're not even a shareholder then it's kind of weird!

If it's the latter, then, can you leave the board. Just fed up of seeing your doom and gloom narrative day in day out! We all know Prem is high risk and the future is kinda looking bleak! No one cares if you were right on one point (btw it was obvious the last test had failed as Prem would have released an RNS). We certainly don't want to think about liquidation happening in Nov.

Some people have lost 1000's £s on this stock. Try being respectful of that.

SP is going to levels to before the consolidation! It's gonna massively tank tomorrow....I'm prepared to give GH one chance with this jiggery pokey to the shares but if we're still in the same position in 12 months, I think its gonna be time to let this ship sink!

@Alert

Thanks for confirming- that makes sense.

*correct (not corrected)

I'm not sure why certain people are stressing over the consolidation announcement? Only shareholders with less than 10 shares will be negatively affected (& who in their right mind would own under 10 shares of Prem?!

If Prem can reasonably prove that they delayed the consolidation for process purposes (that's if even it was their fault, it was most likely the registrar) then there won't be any issue with this taking longer than expected.

One question I do have though is if it's corrected that the stock is given new sedol/Isin numbers? That's the only thing (to me) that seems odd? Or is this typical?

@Acker

Agreed 🤞

@Tbob

Anyone who says Prem is a sure thing is a fool. It's a high risk investment but there is a chance that the issues will be resolved and a good ROI will be achieved for investors.

Anyone who opens a position should treat it like buying a lottery ticket. Don't investor more than you can afford to lose and cross your fingers 🙂.

It's important to give GH a chance to turn things around...Rome wasn't built in a day!

@Jaglith

The thing is, you're forgetting about the value of the untapped mineral resources that Prem have. Although their true value is undetermined at this stage, it will definitely overshadow the current debt of 50million (if your stated figures are correct). It's that which makes it worth throwing extra money in to make Zulu (and any other projects Prem have) work.

Ah okay...dunno why I had 30th September in my head as the deadline! Thanks.

Is there any more news about the share consolidation? Thought that had to be resolved by today?

@HarriM

How do you know it's going to complete on Friday?

@Jagith

Actually neither are fine (that's if it is him)

Atleast one of those scenarios is illegal. For his sake, I hope someone else executed those trades. I think he should be banned from here. The TG group can have him!

Snowking

You've mentioned alot about Tungsten recently. I dont disagree that it's of value to Prem but the market is heavily controlled by China (they can choose to saturate the market or limit supply (like Opec) whenever they feel like it. At the moment they are choosing to do the latter but for how long once other players start contributing to the supply chain? If Tungsten West get the funding they need to reopen the Cornwall mine...they will provide 5th of global supply (they will be the 2nd largest producer.)

Prem will need to actually produce Tungsten...not just have a reserve. What I'm trying to say is, it's a long way off before Prem and its investors will have any profit/benefit from Tungsten.

Of course George will still be around (just not in a formal capacity). He still holds a lot of shares!

Todays announcement is just standard when there are changes at board level. There are certain tasks/activities that have to take place for the change to become official. It's why there was a slight delay in that it didnt happen Fri/Monday etc.

I'm on the fence about todays news...

1.) Bull case: with share consolidation taking place soon, it makes sense for all debts to be converted into stock and for the company to take it on the chin and move forward. Also, it could suggest the interested 3rd party are about to do a deal.

2.) Bear Case: it's the only way Canmax can get their money back as "dumb money" are always on hand to keep buying the stock. Perhaps it supports the theory that Zulu is far from ready and wont be producing anytime soon?

@Anunnaki

Babe I dont do crying lol.

When you find yourself arguing with lots of random people on a stock chat forum...something has to be seriously wrong. You should take time to reflect on that. Check your mental health (seriously). I wish you well.

@Anunnaki

I'm so enjoying living in your head rent free....

@annunaki

I'm not not stupid or uneducated. I've reported you to board regulator.

I'm never blamed Snowking for my losses...I always do my own research. However Snowing is pumping and dumping. Every time the dude comes on here he states all this positive stuff and next day the sp drops! Then he vanishes!

You could literally use his posts as a trading strategy!