Member Info for Shark41

@TT1981

You make a valid point but banks tend to reject more applications than they accept. At this stage of Prems journey there is no way any bank or institutional investor would lend them money without knowing they having a steady production income from their operations. If Prem went to a bank last year and asked for a loan, they probably would have been accepted.

Exactly.

If you went to the bank and asked for a mortgage and you weren't earning money, but were reasonably sure you may get a job in 2 weeks, the bank would reject your application. It's the same situation here.

It's important for Prem to start production asap...once that happens, the financing will fall into place.

I'm just as worried as the next person and honestly feel it is 50/50 asto whether this succeeds. However, there's as much probability of succeeding as there is failing so worth the risk (imho).

@Martini

1.) I'm sure you kept saying that there needed to be an RNS announcement for Goddard shares to be sold. Lots of us thought that they had already been sold and you used that as a defence to say they hadnt. Seems strange that it's no longer important but if what you're saying is factually correct then fair enough.

2. ) just because it often happens, doesn't mean it has on this occasion. I guess time will tell!

3.) Goddard may have accepted a small % of what they're owed to tied them over and deferred the rest untill after production. They may feel that production stage is very close, so no issue to wait.

4.) I'm neutral on that point.

@Martini

I dont think Goddard shares would have been forward sold for a couple of reasons.

1.) I recall you mentioning several times previously that there needed to be an RNS announcement in order for Goddard shares to be sold (that never happened.

2.) Pretty certain, boxes would need to be ticked interms of governance/compliance by broker, Prem and the holder of share register etc. It just isnt worth the risk.

3.) You may have a point about Zim central bank not approving Goddard being paid in shares, but likely it just didnt get approved (no conspiracy or corruption by any party)...its just it didnt get approved, hence GR is having to take this approach to make sure Goddard and others get paid in cash by having private entity buy the shares instead after Goddard return them.

Happy to stand corrected on any of the above mentioned points, but I Biztech's summation of this situation is spot on.

@Biztech

Thanks for the update. Very logical breakdown of the situation and makes sense that Goddard Shares + small amount left in Treasury have been used for this subscription RNS today.

https://youtu.be/Es9TOyTLboI?si=jtZpQZ67Fe2GQtI6

@Raaydaar

Yep...exactly!

Re security for loan...you should absolutely worry about where that's coming from.

"Loans" with collateral (especially shares) can be secret ways of selling assets. A CEO of a well known cinema chain but his shares up as collateral for a loan....it then was realised he had no intention of paying said loan back and had actually effectively sold his shares at that time (without have to declare it through normal channels ) not saying GR would do that but something to be mindful of.

I cant find anything on Prem on this FCA link...which is unusual

https://data.fca.org.uk/#/nsm/nationalstoragemechanism

Is there a Zimbabwe equivalent?

@TT1981

No one will lend them anything untill the mine starts making money. Once/if it gets into production it will be a different story...

There's been atleast 5 big buys this morning which is positive.

Come on folks..the RNS wasnt exactly a surprise was it! We knew another placing was coming.

What are the rules regarding Zimbabwe government investing in Prem? Would/could they act as a private investor? Lots of countries are starting up sovereign wealth funds...be nice to see Zimbabwe follow suit.

...that's none of my business. None of us really know how much we all hold but that's as it should be.

@Martini

I actually believe DEB about the "leak" screenshot. What he's said does make sense (to me). However, it's strange for them to use the word leak in conversation (share would be most appropriate).

I don't however believe he's down 20k on his position...but

I think people are just waiting for news of financing and how the mill is working. It's the uncertainty that's the main issue...

In last stockbox interview, I think GR said RNS would be released in next 2 weeks so likely no update will be provided until next week

Your explanation seems reasonable (to me).

Appreciate the context.

Thanks for clarifying DeadEyebBeaky . I misread point 6 (long day!)

...just to be ultra clear on point 6. Did GR sell his shares or did he borrow money against them?

@DeadEyeBeaky

Thank you for the context. I have a couple of questions about points 5 and 6...

5. Why would you be asked to "Leak" information that's already in the public domain? It makes no sense (to me).

6. This is very serious...did GR actually sell all his shares to buy the mill? Was there an RNS? (Perhaps I missed). If he "lent" his shares to a third party or put them up as collateral in lieu of payment then we're all in trouble. This is what Mooky did with Cineworld...he got his money out of the company before it went under...by borrowing money against them. Is this what GR has done?

@Jaybike

I responded to his comment on BuyHoldSell and it vanished. Auto delete or something. He/they are trying to say it's a UHNWI who owns the other 50% of Muture because of the lack of RNS. He's definitely trying to pump it...notice how none of them responded to my comments about TG potentially being deemed as insiders.

I think he might be right about the last RNS though..my first reaction after reading it was that they were putting feelers out for buyers.

None of us can predict what's going to happen so we'll just have to wait and see.

@Ra11adw2

🤞fingers crossed, it's all positive.

@RickyK

Maybe a slight over reaction on my part but there was no need for your comment.

Apology accepted