Member Info for Shark41

I think people are getting confused with "equity Swaps" and "debt for equity swaps". They aren't the same thing.

It's a 2.5year equity swap that has been opened on Prem (via UBS). That's been declared on FCA website (the data was shared the other night on here). This is an OTC purchase and as such such Prem doesn't have to declare anything at this stage. They don't need to ask shareholder permission (however, they would on a debt for equity swap).

Companies do equity swaps all the time and they don't need to declare it to the market (as an RNS). I'm pretty sure that the bank/provider (UBS in this case) are the ones that have to declare it via FCA. The other 2 involved parties would have a private contract.

With the arrangement that seems to be in place the Prem Equity Swap, it seems to be done by third partie(s) hence no obligation by George or Prem to report anything (at this stage). Its a bit like a contract for difference (the asset/shares aren't being physically bought), it's the performance that's important only.

@Steward1

I think the equity swap (for approx £20mill) is his source of financing. Looks (to me) that he's doing it through a third party..(possibly VSA. UBS are the bank providing the financial instrument.

Jaglith...it was but someone (some loser from the telegram group) reported Martini to LSE so everyones messages got deleted from the chain. Martini may have been barred (but not sure).

Hence no one is writing anything!

Thanks 👍

Thanks @Acker

@Acker please refresh my memory, did Canmax buy into Zulu or Premier African Minerals (the company)?

Metal, I haven't watched the interview yet. If he does take the ore to other producers that will be quite interesting to see the result.

I've seen it mentioned several times that Prem can't replicate the same results at the plant as they're getting in the lab (SC6). They don't seem to realise that lab conditions are "perfect"...the plant conditions are not. They need to take into account real world conditions..they keep failing because they are applying a process determined in "perfect" conditions to an environment that is imperfect.

The only way forward is for Zulu to be sold. Otherwise Prem are going bust...probably time for Prem to be sold also.

I hate to say I told you so folks...its a pyramid scheme.

@Jaglith I think he's saying he's not technical...

Most of you seem new on here.

My concerns about this being a pyramid scheme haven't changed. Seriously folks get your money out whilst you still can. Safer to put your finds with the blue chips.

For those of you still invested, hope things turn around.

I lost about 5k cutting my losses, already made about 3k back. It's not worth going down with the ship.

This is a Pyramid Scheme...when will you see.

I double down on what I said...this is seriously looking like a pyramid scheme...

Not specific to Prem but thought it might be of interest..

https://www.reuters.com/markets/commodities/gulf-oil-giants-saudi-aramco-adnoc-set-sights-lithium-2024-03-08/

@Alan

Go join the Telegram if you're only after unicornsand rainbows...this board is for the realists!

Realism doesnt equate to being a troll.

Hope the pyramid scheme works out for you!

@Acker

Interesting...let's see how it plays out.

@Acker

So they swapped their interest in Circum for same %stake in Vortex. What cashflow does that generate now?

Good luck to them in negotiations with Zimbabwe government for RHA...its still all very vague. Again does nothing for cash flow

Actually Acker...yes I am forgetting that. Thanks for reminding. Need to refresh my memory but I recall not everything is clear cut with that...

@lloydy

I guess it depends on whether production is successful. Also, I dont think Zimb government would allow them to buy it as they are "foreign" more likely the Gov. Would actually buy. But I guess we'll see...

@Kaltersee

IMHO the Tantalum is irrelevant (at this stage) the quantities/price haven't been proven. Untill they are I think it best to treat it as hearsay. Untill the lith grades are proven none of it really matters. People keep going on about better lithium prices but untill we have a constant production grade over atleast a month....none of it really matters. Unless GR pulls a rabbit out the hat the company will collapse...no cash flow. Did you see SK when I asked about cash? Very worrying.

Bean was right to leave out (atleast I think so)