Member Info for steward1

He did, Bick, and he was quite bullish about doing that!

It's not normally unusual for GR to be late but he's got the Chinese on board now and I reckon that they would have been champing at the bit to get this moving. I suspect that GR's and Suzhou's approaches are not aligned!

So GR has created this vacuum... in the past, it has never culminated in good news... just saying!

As I say, they're in it to make money like everyone else. To suggest that they don't care whether they make a 100% profit or 200% profit is ridiculous.

Put yourself in Atlas shoes, hopsta, and put aside the bad blood between them and AP - they want to make money. Will they simply cash in or will they think that it is better for them to hold on to the shares... wait for the re-rating and recovery to be complete? They're clearly smart guys so I can't see the sp dropping much further.

Bridge/FTH - my thinking too. I see a sustained rise in the sp and my guess is that most will see that too. Get this latest dilution out of the way and then it should pop with the help of some good news (I thought that there was a hint in the Q&A that good news was on its way before tomorrow's meeting). The question is whether the sp will drop to 0.7 first - if it was going to, I reckon it would have dropped there already so this could be the opportunity to buy... aimho.

ILL/Acker - if it's that straightforward then why do we have a delay in the RNS? GR could have announced that weeks ago!

I suspect that Suzhou are looking for a bigger share of Prem and GR's problem is that he doesn't yet have the RUS and DFS... so how can he demand a fair price/deal.

SK - I'll be happy to admit that I'm wrong. You may well have some inside track with GR and you might be getting fed info (dodgy, to say the least) but both you and I know that GR wouldn't be the first to admit that things were not going well and I guess that GR would be selective in what he told you. Did you know about his smash and grab before it was announced?
Apparently, according to some, the RNS is in the system and has been for some time!!??!! The delay is a wording issue!!??!! How difficult is it to word an RNS explaining funding for a pilot mine and why would it take days/a week to sort out wording? What sort of complicated deal is GR trying to cobble together?
I'm not sure that you know all the history of GR over the last 5 years but he's not the brilliant CEO that you think he is - he's struck lucky with Zulu and even then he took a poor deal to get it moving.
I'm wary for good reason!

SK - not so sure that your argument stacks up re institutional investors.

If GR has been presenting to another large institution, I'd be asking why given that we've got Suzhou on board... is this further evidence that the relationship with Suzhou has soured?

As you can see, I've got a real niggle that things are not quite lining up as you suggest. Just weighing up all possibilities! I really do hope that we hear about the pilot mine soon but the delay in the decision, the smash and grab last week and your news about presenting to a North American institution could be indicators that all is not quite as we would hope.

SK does have a habit of suggesting that an RNS is imminent, doesn't he... and then nothing appears!
I've got high expectations for the Prem sp if we get a pilot mine without giving more of the company away and, given that we're expecting a stonking RNS, I'm surprised that we're not already above 0.6.
So an alternative view? The decision on a pilot mine seems to be taking a very long time especially when Suzhou are looking to fast track. Last week's smash and grab might have been instigated by GR because the negotiations for funding from Suzhou were not going well. The smash and grab may well have angered Suzhou and they may now be looking for a bigger chunk of Prem which may not be beneficial for us lowly holders.
Again SK has emphasised that Prem retains 100% of Zulu but, as before, this points to GR giving away more of Prem!
I think that is why we're still seeing big sells and the sp not flying over 0.6.
Time will tell and I'm expecting to eventually get a pilot mine BUT I'm more concerned at what GR is going to give away to get that!

My obsession holding is Prem - most of its assets in ZImbabwe. It had royally p###ed off the Zim gov't by mothballing the RHA mine several years ago. I had written off my holding and out of the blue they were given an EPO (10 bagged on the news)... you just never know what is happening in Zim so I wouldn't write off the diamonds opportunity.

Bick - I think you've got a fairly balanced point of view given GR's track record. I've advocated that GR took the wrong kind of deal and that he should have given up a majority in Zulu... so that the other party could take over the development of it.
I simply can't see GR getting a stonking deal to build that pilot mine - he will have to give up something and, given the initial deal with Suzhou, given where the sp is at just now and given the delay in announcing anything, I'm even more sceptical than I was a few weeks ago.
With GR's raid of 5% of the co last week, I'm even more concerned. I do wonder if he's fallen out with our Chinese friends - have they told him he has to go as part of the next deal?
Let's hope we get news soon...my exit price is way higher btw!

I'd say that the presentation/q&a confirmed that the turnaround is underway... I was happy and Bridgedogg1 captured all the relevant points.

Clearly, two guys under a bit of pressure because of where the sp is at... fully expect the sp to recover so maybe we'll get a smile or two at future presentations.

Depends on how it is funded, Citytilidie. Interest free loan from Suzhou would be brilliant but ????. Giving a further chunk of Prem away will not go down well!

Acker - some here think Prem will have a £1b MC in the next year or 2. 5% of that is £50m... GR's share is way more than double his remuneration I'd say.

iLOVElithium - how much of Prem do you think that GR is going to hand over to get the pilot mine done (if that's the route chosen)? The last deal was poor - the market clearly said so. Yesterday's grant of options was worrying on a number of levels but it appears that GR is getting his slice of pie before anyone else... why is he doing it now?
The options are granted on the DFS and not the pilot mine or on production... this raises the risk that GR is not going down the pilot mine route... more and more uncertainty!
Acker - come on, GR has been lucky, if anything, it's the Chinese who have delivered and will deliver future value... definitely not GR! Do he and his cronies really deserve 5% of Prem... absolutely not!

SK - it's not over many years. They'll take 5% by 2024. The sp doesn't matter whenever it is - they're still taking a big chunk off us.
GR should put it to shareholders... perhaps, he was too scared that we'd reject it... daylight robbery!

Fantasy - companies do turnaround and I think this is one which will. My obsession share is Prem - has the worst CEO on Aim, diluted, diluted and diluted. A complete no-hoper a couple of years ago and some folk have seen a 10 bagger since they had an EPO granted... and there's still a huge lot of mileage for more baggers and in the next couple of years, the majority of historic holders should see a good return. OK... perhaps, an exception but my money is on a turnaround here... good news to come very soon!

The turnaround is on and I expect AP to confirm this on 6th June!

SK - you're spinning this... it's over 5% dilution and with Suzhou maintaining their level of holding, it's more.

GR has been staggeringly greedy and it's the arrogance and lack of understanding that he is taking our money that is angering. Plus, he's just taking the shares without coming to shareholders to get agreement.

And the trigger for the 1st options is the DFS(??) - not the completion of the pilot mine or the first production of Li.

It doesn't bode well. I wonder what Suzhou think... can't see them being happy!

BTW - he could buy most of those shares now at a discount! That would show some confidence!

Jenkoo - I guess the factors on whether to buy (or sell) today is when the next RNS is likely to drop and whether it will be positive or not. Prior to today, I was hoping for a positive RNS this week or next. I reckon it will be longer than that and I'm sceptical on whether it will be wholly positive.
I'm really concerned that GR has chosen to award these options now when the company is nowhere near producing anything yet and it is certainly not making money. There's a good chance that the options will be exercised before we get to selling anything... the idea that they should benefit once the DFS is published and before anything is taken out of the ground is extremely poor and disappointing. There's also the concern that he's grabbing a slice before Prem gets sold off on the cheap! The greed is quite dispicable!

Thought that I explained why, Shiny. Prem drift!