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Hi Acker

While the Tantilum will be a welcomed addition to the Zulu project and is expected to be pursued asap.

If the second flotation plant doubles Output capacity doesn’t the cost per ton drop down to $500?

That would make Zulu viable would it not?

Thanks

Hi Acker

While I agree here allot of the posts on this forum are worthy of some eye rolling or scratching of the head from both sides. It s normally a good giggle reading these pages.

I would like to think many sensible investors are well aware of PREMS financial position. I hope to think all would and should expect the final head room to be used up. I only imagine that the hope is that head room is used at a higher SP to cover what is needed and then at the end of August Glencore and Canmax strikes a deal that saves the company.

It’s not the way to conduct business but I think it’s not quite head in sand scenario and more fingers and toes crossed.

We of course have many on this BB who are here for the tolling not much we can do about those sadly.

Hi Acker and Jag

We all know i love your theory’s and speculation on prem and would love to know how you see the time line play of if a EGM was to be called.

The way i see it is George would have to do another dilution today after the bell to use up the last of his current headroom. The shares would need 6 business days to clear taking us to the 13th. He would have to consolidate at the end of the day on the 13th and have that process complete in 6 days taking us to the 21st leaving 6 days left of the month before his time is up. An EGM will take a MINIMUM notice period of 14 days, he will be gone from all rolls by the 31st.

Love to know your thoughts thanks as always

Hi Acker

So i suppose i don’t have the full details but here is roughly the broad strokes of my thoughts (with the assumption SC6 grade and volume is reached).

Glencore will buy Canmax debt off them and give Prem somewhere between 20mil and 40mil to fix the sorters and mag separators and ramp up with the additional float to full production. This will come with a date it has to be done by in my head I’m thinking jan the 1st (Gut Feeling). I assume for this Prem will have to supply them spod to pay back the debt at a fixed fee regardless the price lets be kind and say $850 for spod and then maybe Tantilum at a 10% discount to market price. Once the debt is paid back i assume a new deal will be struck. Let’s assume this all is worked out so prem covers its costs and can run the plant and survive (as i said i not done the math im just guessing)

Canmax at this point will be free to buy Spod from us at market price or have another Of take agreement (although im hesitant they will commit like that given last time round). (This part is where prem can/should be able to cover any other costs)

So a rush for an export licence and then the Circuit add on will begins in September. Prem floats along paying its debt and staff till 2027

Hi Acker

These are some interesting ideas I will add them to my own

I agree with you on the dash fit tantilum. There will be a push for diversification in revenue streams almost immediately

Hi Acker

Could you give us your opinion on the next stage also I am very keen to read your thoughts along side Irispickles

Many thanks

Hi Yoglet

Ok this is all calculated on a Rocket to moon ratio chart ;p

Hi Yoglet

I’m curious why you think it will go up? What reasoning do you have for this?

Many thanks

Hi Acker

It has been great also I feel like I have picked up some new thoughts on the company

I’m sure I will be back with some more questions down the line

Acker & Jag

I appreciate your feedback I am only pointing out what we know. If anything I said is inaccurate please tell me I will amend right away!

If not let’s wait and let good old Georgie boy the chance to hang himself with his interviews ;)

Hi

Your right they will raise the remaining amount but doing it before the test or after the test can be quite significant difference in cash generation don’t you think? The test hopefully starts Friday and we will see results next week.

As other said it’s a good idea to watch the interview on stock box it’s all there

Hi

I believe George said in the stock box interview he hoped for a Friday start on the test and the funds were available to run the test.

Can’t comment on today’s pricing action

Hi Acker

That’s interesting. So based on your theory that canmax told George to bump up the share price. If the test is a failure and doesn’t produce SC6 and recovery rates. Wouldn’t the share price just fall on its ass anyway reducing any chance for a EGM as Canmax have said no before hand?

I’m assuming you’re hopeful that an extension is given and Glencore don’t walk away before the 31st on a bad result?

Because if it’s a success why wouldn’t talks wrap up or be outlined within weeks helping prem share price allowing more funds to be raised in the remaining share allocation?

Based on your theory and outlook I’m interested why you think a EGM will get called altogether now?

Hi Acker

So firstly yes assuming results are good because if there not prem is dead and doesn’t last past September so I’m giving some credit as it a more interesting discussion if they do succeed.

So I suppose my follow up question is. If results are positive. We have an August 31st deadline for canmax and Glencore discussions. are you expecting them to be extended?

If prem is ramping up in August would saleable product even at 6C5+ reduce the need for an EGM as the money would go towards running the plant as canmax and Glencore hammer out a deal to cover said debts?

Hi Acker

Very interesting theory I’m quite intrigued by it.

Don’t suppose you have a time line of events of how this all plays out and when we could expect a consolidation and a then call for a EGM

Would this be after the next 5 day test run results?

Also company still has shares to issue so wouldn’t make sense to not issue them if they can pump up the price a bit first right?

George said he had money for the moment to do the test run. So assuming Monday at worst it starts we wouldn’t see a placing for a while as they would want the share price to rise on the positive SC6 results.

What’s your thoughts do you have a road map you could share with me?

Thanks

Hi Acker

Could we assume that-

“If they are not expecting any income from lithium in 2025”

It does not mean they wouldn’t be buying lithium in 2025?

They could be buying now to build up stock to sell at a higher price no?

Do you agree?

Hi Acker

That’s great thanks

So they can consolidate tomorrow and just admin time will take up a day. Then they would have to call a EGM to vote on the head room and that would take the 21 days notice. Meaning we could see a raise the week before the 31st of August

Thank you top man

Acker

How are you? I have a question I hope you can clarify. To have the share consolidated would require calling a general meeting which will require a minimum number of days notice from the announcement correct?

So called tomorrow would need 14 days days notice

Then after the consolidation they would need to announce a EGM which would need 21 days notice

This process would take us into late September no?

Wouldn’t plant be fully operational by August 31st? And a of-take agreement secured an in place assuming everything works of course?

Can you clarify this process is correct I have thrived to do some searching

Thanks

Don’t suppose you have some kind of time frame in mind for this EGM Jag? Will it be days or weeks?

Hi Acker

I personally don’t know if canmax will sign off on the agreement to pay it back. Also over what time frame and lastly by what way of payment it would be paid back. It would be ironic if they paid him in shares not cash like he has done to creditors ha.

I just wanted to confirm with you it wasn’t within the powers of the BOD to so, given what is stated in the updated agreement and I have not read something incorrectly?

Many thanks

Rob