Member Info for steward1

Have to say that this RNS in particular is riddled with 'George-speak'.

Still dealing with 'with optimisation and commissioning issues' without stating what they are - concerning!

Questioning the full purchase of the second float without confirming why they would not proceed with it - is the grade good enough or has he no money for it?

No mention of grade - very concerning.

Work on sorters - has it started? Has it not?

Tantalum work - has it started? Has it not?

No mention of funding - could be a positive but, if he's spending money on the test, the sorters and a tantalum circuit, he needs to say what is not being paid.

I'd like an interview today.

Not the update that I was expecting.

Ballymena - nothing bad happening either!

I'm wondering why Raaydaar believes GR when he responds in an email but will dismiss anything else he has said as lies!

Why would anyone celebrate the fact that the sp hasn't risen... dark souls, dark souls!!!

FWIW, I expect a similar pattern as a couple of weeks ago during the first test - progress will be made, Zulu will become leaky mid-week and the sp will fly!

DYOR!!

Not sure what your point is Tbob418 - of course the word is 'should'... we're talking of something that is projected to happen in the future. None of us can guarantee what is going to happen.

Acker and the other doomsters have bet on a fundraise being announced and his/her attempt to spin a negative from the RNS is a vein attempt to create doubt.

The most encouraging statement in the RNS is this - 'the plant should reach a sustained steady-state of operation. This would also enable Zulu to target the overall plant availability of 22 days per month as was originally projected as the required availability to meet target production levels.'

So, the expectation has been set that after this phase of optimisation, the plant should be ready for production.

That also implies that Glencore's expectations will be met.

I'm expecting the sp to continue it's journey north this week. I'm also expecting confirmation next week that the plant is achieving grade and will move into production.

Doubt very much if that's the way forward, Raaydaar.

JV with Glencore is my thoughts.

In any event, when Prem get Zulu 'over the line' and Glencore convert their LOI, the sp will be much, much higher... different ball game!

The available headroom equates to a 7%+ dilution. Market will absorb this one easily (as it did the last) and could see it as a major positive.

Acker,

I think Prem will declare that they're moving to production after this next 'test'. It won't be at nameplate yet and I agree that it might take months to get there but GR, in particular, will be impatient to get some product sold. I agree too that producing sc6+ will become the standard but will take a few months.

I don't have an issue with Prem using up the remaining headroom now - it would only be 7%+ dilution and the market will see it as a positive. However, I think GR will be holding out his begging hat to Glencore now. I wouldn't be surprised if we hear of developments with Glencore very soon.

I agree too that Glencore will be financing the future at Zulu (and tantalum production)... with their obligations to Canmax, I just can't see them leaving Prem to their own devices and I think that their involvement will be more significant either through a JV (and being the majority partner) or a complete buy out of Zulu... I hope that the board will resist the latter unless the price is in the hundreds of millions!

I think, in the process above, Glencore will also take care of Prem's non-Canmax debts.

Next week will be interesting!

The last time Prem was this close to production, the market cap was circa £100m!

The last time Prem was this close to production, there wasn't a professional team on site who knew what they were doing. There is now.

The last time Prem was this close to production, there wasn't a MD appointed waiting to take over from GR. There is now.

The last time Prem was this close to production, there wasn't a large mining company waiting on the sidelines to convert a LOI. There is now.

Not silly at all, Acker. There's something dark in the soul of a shorter!

Those who are just willing Prem to fail seem to have got the bit between their teeth this afternoon!!

There really is nothing new under the sun especially when these doomsters begin talking about debt and legal action and Prem's demise. They've been harping on about this for years and, guess what, Prem are still going and almost about to get Zulu over the line. I won't waste my time going back over old ground but I'm sure that when those debt figures were published, the same people who now seek to use them to bolster their case rubbished them.

All of the debt, the risk, GR's incompetence, etc, etc, etc has all been said many times before... it's not new and it's all been priced in! What is new is that progress is being made at the plant and that there is a plan to get the plant producing. The doomsters are simply not willing to accept any positive statement about Zulu and Prem. DYOR!!!

Acker - there will be production though (at least sc5+ and probably sc6) and, given that Zulu appeared to be a lost cause for the last 2 years, that is a huge step forward.

Nameplate will not happen next week, of course it won't, but the prospects for Prem and sentiment have turned around. The market agrees - 200% up this month with much more to come.

Acker - that's an impressive list of doom!

All of that is built in to the sp and, with the imminent start of real production, one could argue that some of those issues will be picked off one by one. Add Glencore into the mix and the prospect for the sp is really positive.

Given your long history of Prem, I'm really surprised that you're continuing to talk down their prospects.

Got to admire your perseverance spinning all the progress in the most negative way, Acker.

Glencore (and Canmax) will know already exactly how they are going to play this. Announcement anytime!!

Spot on Coldsteel33!

I'm a real sceptic whenever GR opens his mouth but that was genuinely one of his most encouraging interviews!

Glencore standing by!!

2nd flotation plant - sounds like it might not be needed!