Member Info for steward1

One has to wonder why GR issued this update today when he'll be announcing the offtake and prepayment agreement in "the coming days".
GR generally doesn't get good agreements for shareholders - is there some not so good news coming?

Snowking - show me all those 1800 results then!

With GR, there's always something to moan about... he is never, ever going to be awarded CEO of the year except in your deluded world!

What are we disagreeing on?

Are you saying that progress on assay results are good?

It's pocket money to them, Acker, but they're desperate for lithium.

GR has received 1800 results already but he's clearly cherry picked what to publish - for me, that smacks of the old GR... hiding bad news?

We still don't have a clue how much is in the ground and what the value of Zulu really is... no wonder the sp is going nowhere!

Goodness, it's very clear now that the assay results have been and are incredibly slow!!

The problem with GR publishing more information now just demonstrates how poorly he has delivered and raises all sorts of questions!!

Correct me if I'm wrong but the bottleneck seems to be at Antec (and not SGS) and there's a huge number (more than half) still to even get to SGS!!

Of the 1800 results received so far, how many has GR published? How selective has GR been in what he has published?

I'm also wondering how many drill holes have still to be started for the DFS.

Further evidence that there's not much happening here for some time!

I guess that we don't know what production, grade and price assumptions that AP has made for Q3 and beyond.

Whoops - Q3

Pecten11 - no doubt the revenue would not have looked good in comparison to Q1, particularly because a third was sold in Q2.

What was the price of copper 'when VAST were acquiring the asset'?

Looks like it's going to plan - good signs for q3.

The turnaround is on!

Poor choice of words by me, SK!
GR's strategy has placed some limitations on what he can do between now and next Spring/Summer but I think patience is the key. The sp could drift further but there should be plenty of action in the sp next year.

My reading of where the sp is at and is heading... I think we're in a "nothing happening around here til March 23 or later" position. The trading crowd has moved on and the prospect of a surprise between now and then doesn't seem that likely. Only thing that might ship the sp north is more assay results but these are still only trickling out.
I guess that there's a risk that GR looks for more funding to progress the EPO or to do something with RHA or MNH.

In the meantime, there's a risk that selling will outweigh buying and that the sp will drift lower. Typical AIM investor will be thinking that they can make money elsewhere before next March.

5 day chart showing that the sp is moving up... whether it continues in that direction is the question.

Bick,

you've raised some fair points - like you, I like that GR has an accelerated plan to production. I, too, would have liked to see the DFS accelerated in parallel. More than that, looking at the demand for lithium, I'd argue that there would be a good case to accelerate the EPO area too.

What is stopping GR from doing this? My guess is that it's funding and I would have to wonder whether the terms of the the Suzhou deal have had an unintended consequence of stopping GR getting other funding and slowing everything else. Roll forward six weeks and GR may well be announcing additional funding/dilution. If he doesn't go for funding then it seems that very little will be happening in the EPO area until Prem is making profit sometime later next year.

It's the Prem drift... once the effect of news is over, there is a general lack of interest and lack of volume to maintain the sp and it drifts lower. Next significant news could be a long, long way away (early 2023?). There's always the possibility of some news before then and I wouldn't discount it... therefore a good reason to hold.

Personally, I think I might add in the next month and I suspect it will be at a lower price than today.

I fully expected the tipping point to have come and gone by now but I don't think the current sp malaise is as perplexing as folk might think.
There is, of course, the world economic downturn and no-one knows where it will end. The risk of the Ukrainian conflict spreading is real. Talk of China flexing its military muscle is worrying. Inflation is running out of control in major economies and governments don't seem to be getting to grip with this or energy costs or general cost of living. There is no good news out there and I guess that most folk with money to burn are thinking twice or thrice about putting their money into a company with a poor track track record, run by someone who has a questionable reputation and which operates in a risky country like Zimbabwe.
Today's assay results were very good but the majority were "re-stated" and therein lies one of the major things holding the sp back. The market doesn't believe that GR will deliver. Not only do results need to be re-stated but it seems to be taking an age to have them re-stated (at least 6 months?). The RUS and DFS are delayed too.
As I said a few months ago, GR should just come clean - his credibility would go up if he gave us a timescale for the assay results, the RUS and the DFS and, if he can't he should be candid about why.
I've got some sympathy for GR now - at one time, he couldn't do anything right and now he's doing a whole load right and the sp is still drifting!

Excellent results - just need them to speed up the process. At this rate, the pilot mine will be built before we have the full set!

Oil and gas stocks are not run by the likes of GR, Cosmonauts! If he's still in charge, he'll want a dividend.

Really good interview and some great questions.

Clearly and rightly, GR's focus is on the pilot mine. I wish that Prem was big enough and had enough cash to follow through on the RUS and the DFS and the EPO area more quickly... these aren't coming anytime soon. We'll get some assay results which will be good - clearly GR is now comfortable with telling us that there have been issues... something he wasn't prepared to admit to at the time!

I liked what GR said about a possible sale... my hope is to hold Prem for 5-10 years (possibly more) and for it to be delivering a very healthy dividend for years to come. I'd settle on Prem retaining a minority stake in Zulu and/or the EPO area as an alternative. In the meantime, there might be approaches but GR is right... not until the pilot mine is up and running.

As far as where this leaves the sp, I don't think that there will be any drivers to move it north anytime soon I'm afraid... unless there is some surprise. Bottom drawer for me until the New Year.

Thanks for the clarification, Welshy. It seems that some have inflated what GR has said again!

SK, shareholders shouldn't have to go to a meeting in London to be kept fully informed especially when that meeting is just an excuse for GR to have his annual jolly in London at our expense!
OK - you've said that no-one said that the DFS would be 2023 at the meeting. Did anyone say it would be 2022? When in 2022?