Member Info for steward1

If GH gets his extension and he sorts out some funding by the end of Tuesday then Prem will be sitting in a pretty good place. Difficult to call quite how this is going to pan out sp-wise but I think we're looking at the Market Cap taking a significant step up. aimho!

Acker - despite attempts by some to portray him as another GR, he is nowhere near that ilk! GH is the real deal and if he needs more time (which I think you already allowed him), that's OK by me. And I think Canmax will give him more time too. One must not forget how GH was appointed and how much influence they and Glencore had.

The finance gap is well known. It will come from somewhere. Even if GH does the nuclear option and comes to the market for it all in one go, he would get it and I'd happily take part, as I'm sure many would.

The extension is the key and I don't mind if Canmax take another small chunk to give us another 3 months. There's going to be some big news at some stage in the next 5 days... I think we'll be patting GH on the back.

Acker - I've drawn a line under anything that was announced under the previous regime. GR and co clearly hadn't a scooby doo about what they were doing whereas GH and his crew do. Don't see any point in posting historical RNS's penned by GR... clearly he was being fed nonsense!

Missed all the excitement this morning - given the circumstances, the update is as good as can be expected. I don't think that GH has taken his eye off the ball re funding... it is possible that he has always had his eye on doing enough by this stage to persuade Canmax to put more funds in. Has he done enough - possibly. My expectation has been that there will have needed to be a big discussion again with Canmax and the current situation may have accelerated that and presented GH with an opportunity... rather than come to the market again, maybe he is appealing to Canmax's good graces.

For the avoidance of doubt, I am bullish about Prem's prospects from here but there is no way that we get through this without further dilution... I'm hoping that GH has done enough to prove to Canmax that the finishing line is within sight and that they'll take another chunk of Zulu in return for the required support. What will be extremely relevant to us holders is the value that is placed on Zulu!

What GH has maybe taken his eye off is that pile of ore fast reducing... don't know if that should be taken as a real positive, i.e. that they've used up so much ore in this phase.

All in good time, Acker!

Simply cannot see GH sending dubious product to China. Have to agree with others who've said that GH's word about sc6 et al means much, much more than GR's and that we should see a boost to the sp when they announce the initial grades!

And, at least to me, it is significant that we're past 21st June and GR has not been knocking down GH's door demanding his money back.

Plus recruitment for 2 key roles is happening.

All heading in the right direction!

This isn't going anywhere until there is volume going through Vortex. Feels like they're being muscled out by the competition.

Excellent find! All heading in the right direction. GH is the man!

From what I understand, GH is running a very tight ship so there is unlikely to be any leaks from Prem/Zulu. He is extremely cautious about what he says publicly (unlike GR). I think they knew at the last fundraise that success was ver likely... I'd certainly have expected to have heard by now if there were major issues.

Any leaks are likely to come from a different source... the lack of a leak suggests to me that interested parties don't want good news in the market before deals are struck. I'd be surprised if GH is not actively engaged with Canmax, GH and others. News could drop anytime now!

In contrast to those previous points at which an extension has been required, GH has shown real progress and there is increasing confidence that he will get Zulu over the line. I appreciate that the deadline is fast approaching but what else is different this time round that would prompt Canmax to take a different approach? It's pure speculation that they would take a different approach... just as it's speculation that Canmax might extend without penalty, or that Glencore might step in or that GH has his own backers sitting in the wings, or that some other party might be willing to buy Zulu and clear the debt to Canmax and have a company that might be worth £250-£400m in about 6 months, or that GH does a mega-raise.

GH does not strike me as someone who is going to walk blindly into the 30th June without knowing what Canmax are likely to do.

This is all very disappointing.

Seagul - GH has tightened the leaky ship!

MG - glad to see that your holiday has brightened your sunny disposition!

Market Cap is only £8m. Yesterday's RNS oozes confidence that GH is going to get Zulu over the line and it appears that the funders agree. We're now in this virtuous period - GH will continue to report progress and I expect the sp to head north... wouldn't be surprised if the MC is sitting at £40-50m in the next few weeks. Any future fundraise will be at a much higher sp... or we might see some bigger action on the funding front!

I'd have liked a figure on the grade to be mentioned in yesterday's RNS but, nevertheless, it feels like the tipping point is just about here. GH is the man!

That would be the best case scenario and is a possibility. If you're a potential funder, you'll be watching GH... how he is operating and the progress he is making... a much, much better and safer prospect than GR! And yes, he's very close... next update should be a biggie!

I'm surprised that there is still no fundraise... could indicate that GH has better news coming very soon. I've no doubt at all that GH will share the in-house results and, if positive (and I expect them to be positive), that should benefit the sp... I disagree with Acker's assertion that the market won't respond until all the ducks are in a row. There's growing confidence that GH will get Zulu over the line.

Have to say that the RNS is not the one I had hoped for but it s a relief. I had hoped for some indication of grades so I'm a wee bit underwhelmed... and the nature of the rns I agree with signals a fundraise later today, as others have said.

Tyrannin - don't disagree with any of what you said so why would this even be getting discussed, let alone be in an imminent RNS!

If that is accurate then it suggests that there might be issues at the plant that won't be fixed within the expected timescale!

Well, I was pinning my hopes on a positive update this week. The longer the week has gone on without an update, especially after the flurry of tweets last week the more likely that they've hit some issue. And the longer the week has gone on, the more likely that there's a dilutio. An EGM rns this evening looks very likely now. Aimho.