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@clueless
No dude...I'm not going anywhere. I have an amount invested in this stock . I want it to succeed but unlike some names on here I'm realistic with what's going on. I'm not a rose tinted, glasses wearing buffoon who only sees unicorns and rainbows or burys my head in the sand when things get bad....
Good Morning Everyone!
It's great to see you've all been getting along this week. 😂
It's not looking good with the Mill situation is it...but I will of course reserve judgement untill Monday! In his most recent interview GR made the comment "as far as I know" when referring to the manufacturing of the mill being complete and it being ready for installation at Zulu. He gave the impression that it just had to be "factory tested"...we shall see next week if he was true to his word. However, past experience of his use of language (like..."as far as I'm awsre" and " I've been told/led to believe") usually means further delays are imminent.
Just my opinion obviously but I feel like the poers that be want the Shareprice to be .20 before they do another placing. All the "influencers" seem to be recently pointing to that level.
It's worrying to hear that people are risking inheritance and taking out loans to invest in Prem. This position is high risk and people should not be investing money they can't afford to lose. It's even more worrying that they are being applauded and encouraged to do so. However, it doesn't change the fact that individuals must be held responsible for their own actions when it comes to investing their own money.
Will be an interesting week...unfortunately I think further drop in sp is likely. If the mill was on target, I think we would have seen PR pictures yesterday.
@Wullie
Haha! I'm in an airport waiting for my flight hence nothing better to do 😂. I do have a beer in hand though 🍻.
I'm holding at the moment, all depends on what happens in the coming weeks as to whether I stick or sell.
Have a good weekend mate and good luck if you're still invested 👍
@PM01
Firstly, I'm sure the discussion board appreciates the level of detail you've gone into interms of explaining the meaning of CIF, and also the different delivery basis terms. It's important that everyone understands that.
The point I was trying to make (albeit rather inarticulately) is that you have load port figures and discharge port figures. They never match. He's selling his quantity of cargo on a delivered basis(ie when it gets to the again port on China) when it would be much better to sell on a loaded figures basis. Alot can happen during a voyage, containers can go missing etc etc. If he sends 100 tonnes (figure just for this example) and the reciever says you've only sent us 80tonnes then he's lost 20%. Camax are only going to pay for the recieved product that is on spec.
Is he chartering a whole ship or is he doing a space charter (a few containers a month).
How is he getting the product to the load port in Africa? Freight trains, trucks? Will he need cargo expeditiors? What port is he shipping out of in Africa? Will he outsource this function? Or is he going he going to create an in house department to take care of this? Will he rent or buy the cargo containers? What voyage route is the ship taking? These factors will determine the cost...he's not providing any clarity on this.
To be fair as Pingu said, this isnt top of the priority list at the moment but questions need to be asked about this aspect in the future because it will chip away at the profits.
I'm not sure why you're mentioning Brexit as the cargo is being shipped from Africa to China? But acknowledge it may have affected global operations./terminology. I realise that the end product might may end up in Europe and UK (perhaps this is why you're mentioning) but I'm pretty sure that once it gets refined in china (presuming the batteries are being made in china also) I think it will be deemed as a brand new product with stated origin as China (ie it's not prems problem its canmax's)
Just watched the stock box interview. On the face of it, as far as interviews go it wasn't terrible. Like some people have said GR was very relaxed, however so was Bernie Maddoff whenever he spoke publicly...and we all know how that ended! Most CEOs tend to be psychopath/sociopaths (it's how they become CEO in the first place)so you shouldn't read too much into his demeanor when he does these interviews.
Everything depends on what type of financing Prem secures. I don't like the sound of the debt option especially as they aren't producing/ making money yet.
One thing I did notice is that he was very vague on the shipping of the product to China. He mentioned he was selling on CIF basis ( which means cargo/insurance/freight) so essentially the receiver pays the shipping costs) but it likely means he's selling on a delivered basis which isnt ideal as there are always discrepancies in terms of final quantities. The load port and discharge ports never match. It also means that Prem are responsible for chartering the ship and will likely pay all the demurrage fees initially before the reciever pays them. It sounds like he just quoted ball park net figure interms of shipping costs...he didnt say if he would use a partner for this aspect. It costs a lot to charter a ship and he didnt say what type of charter he would likely procure. He may also need to secure a term deal with the receiving terminal which again costs money.
It would be much better to sell on FOB (Free onboard) basis as you sell on the loaded quantity, all you need to worry about is loading the cargo and getting to the port inside laycan dates. It would also be better for the receiver to charter the ship and take on those costs. I think GR drop the ball in this respect.
We shall see by the end of February if he's true to his word.
Have a good weekend all!
@RickyK
No one cares who you are. Stop making yourself seem important.
Most people on here are retail investors who look at their investment situations with a "realistic" and "logical" perspective. They are without agenda and are neither rampers or derampers.
However, we dont appreciate the PR positive wash that everything is A okay...when clearly it isnt. The fact that you're posting so frequently on here this week just proves that Prem is actually in a really sticky situation. So please take your unicorn and rainbow bs back to the telegram group.
Have a nice day!
@RickyK
Are you the Telegram groups official spokesman? Are you their PR man?! You havent stopped posting all week. You've literally sprung up out of nowhere consistently trying to put a "positive spin" on this situation....well enough now dude...we see through you.
@Martinigirl
Hmmm...I'm starting to think we're being f***ed over tbh.
It hit home when they released that last RNS. They lied about the dates..previously they gave the impression it would be complete by end of Jan/ early Feb but now its end of Feb (but they acted like it was supposed to be the end of Feb all along). They also tried to deflect in the RNS about the delay of the Mill by claiming new Li3 deposits had been found (in addition to those already declared)...like that's supposed to make it all fine. To be honest it doesnt matter if they found the purest highest spec Spod in the ground...if they cant mine it then what use is it!? The RNS was poorly written also...like an intern did it. I'm surprised their legal/PR team let it be published.
I think if George just told the truth and said end date/production date unknown due to unforeseen delays then atleast we'd know he was being honest but he just keeps living by making it seem as though it's just a little while longer! When, in reality theres no way this will be ready before July (IMHO).
The Telegram group are disgusting. I was on there for a little while and they kept accusing me of being someone called Leanne because I was asking questions about the elections in Zibabwe (and how they would effect Prems situation)...the abuse I got was ridiculous. If anyone says the slightest negative thing (even if it's a legit concern) they shut you up. I later said that I thought the price would hit the teens .16 - .18 before the mine starting running successfully, because in reality things may go wrong and the backlash I got was crazy...they accused me of manipulating the share price. Then they banned me! But I was right about the SP...its now hit .18. I was really hoping that the Telegram group would have expert investors in it who could provide context on my questions/ concerns but they just get rid of anyone who doesnt see rainbows and unicorns.
I much prefer this board because you can discuss stuff.
I think they need to get another partner in or sell it or replace George because something seriously isnt right here.
I'm kind of stuck between a rock and a hard place (no pun intended!) Because I'm sitting on a 10k loss or I invest more and which means throwing more money in to average down. Neither is ideal.
In the long term, I think Prem and Zulu have a lot of potential but I dont think we're being told the truth tbh.
I knew what I was signing up for so not complaining as such but evenso...I'm hoping for the best but preparing for the worst!
Hopefully those bags in the X photos are spod product but let's face it...could literally be anything!!
@Raaydaar
Thanks for the clarity/context...had a feeling it was something along those lines. I think I'll look at this again in a couple of months..Guess we're looking at April-July for things to settle and get moving again.
I think the price isnt going up despite the blues because it's new shares (george had to pay people in shares instead of cash). I think its these shares that are starting to hit the market (Martinigirl worked out that there 376m of these shares yet to be sold). She said that Prem would have to declare this in an RNS but actually I think they only have to declare it if it's over 5% of total shares in circulation...
However, happy to be corrected/please correct me if I'm wrong on that.
I think Martini worked out there were 376million (approx) shares left to sell from Goddards/placing so hopefully 100m shares just sold is part of that. That's almost a third gone which is good. Realistically the sp is going to hit about .14 -16 before it starts to rise again because of the sale of those existing shares. However, I thought Prem had to declare this in an RNS (Goddards share sell) but maybe they just need to submit it to the FCA as it would still be public record...🤔