Member Info for steward1

Johnny - I did say that I was the most bullish I've been on Prem but the drop this week is disconcerting. Perhaps, I would put it down to the market being nervous about what GR might give up to get the pilot mine built. As others have said, I reckon we will only get a serious re-rating when we have some facts... as long as they're good.
And yes... as for timing, I'd agree with your timescale.

Whilst I agree that everything is for sale at the right price, I'm not sure (and I guess the market is not sure) what the right price is because we don't know how much and the quality of what is in the ground. I now can't see a sale until either we have a DFS or the pilot mine is built. Same applies to the EPO area.

Jenkoo - I'm aligned with your thinking. Yes, we should see a daily rise and I suspect that the sp will fly on the publication of an RNS which confirms the accelerated plan and debt-funding but, crucially, gives us the outstanding assay results plus a better idea of the scale of what's in the ground. It would also help if there was some comment on the EPO area.
GR shouldn't leave the market guessing and trying to put together pieces of the jigsaw.
I'm the most bullish on Prem than I've been over the last 5 years... it's not a jv but it certainly feels like one with Suzhou driving this forward. If the news is right then I think we could well go over 1p in the next few weeks!

Bick - I agree that MNH should be written off and I took from the interview that it was less likely that Prem will do anything with MNH. If GR has to speak to investors then there needs to be a strong case to invest anymore... there just isn't a strong enough case!

Interesting, Bick... well done on the sells. I'm closer to SK's view just now and with the prospect of a confirmation to go for the pilot mine in a week or 2 plus some results, I reckon that we'll get a boost in the sp. Where the sp goes after that is, I guess, dependent on the points you highlighted - for me, I can only see the pace picking up with Suzhou driving things. If GR can keep his nerve and secure debt funding (without giving up anymore of PREM), I think we'll be flying sooner rather than later.

Of course, Jenkoo... my expectations are tempered by a long history with Prem.
Personally, I think the pilot mine is now a done deal and they're just working out the detail. Whilst the focus is quite rightly on Zulu, we shouldn't forget that we also have the EPO area which could hold a number of Zulus. It will be interesting to hear how the Chinese want to address that asset... I imagine that we'll see a similar urgency once the Zulu mine build has started.

Looks like we've got a major upgrade in activity... GR's accelerated plan, 24/7 drilling and our friendly Dr is onsite. The fog is beginning to clear and it's looking very, very promising - I think we've got an exciting and rewarding 2 weeks ahead!

PB - along with the results and RUS, I think that we'll get confirmation of the review being completed and the new strategy of the pilot mine being selected. I think we're all agreed that Suzhou are behind this... which for me is a real positive.
Muted response today because some are selling but I expect that things will be on the turn next week.
Once we've got some confirmation of resource and a plan with some timescale, we should fly. Interesting times!

Good post, Johnny.

Perhaps this is wishful thinking but I'm not convinced that Prem will be sold on the cheap. I can see Zulu being sold (to fund the EPO area) and shareholders accepting a deal of 2p plus for that. However, with the potential of the EPO area, I just can't see enough shareholders agreeing to a complete sale of Prem. If Suzhou want it all, I think they will need to pay a whole lot more.
GR needs to do the best for all holders (including himself). Personally, I'd be happy with selling a majority to Suzhou or some other party.

Lucky, as one of GR's biggest critics, I'd be very surprised if he came up with the accelerated plan for a pilot mine and I'd be very surprised if he's able to pull the wool over Suzhou's eyes. For me, this is evidence that the Chinese are shaking things up... the "review" is unlikely to have been GR's idea either... it's the Chinese insisting on the setting of a baseline.
I wholeheartedly agree that GR isn't the right person to get this done and I can understand why you have sold up but I suspect that he'll find the heat from the Chinese too much and we'll see a change in leadership later this year. I don't think that there is anyone invested because GR is the current captain... I do think that 100% of investors are on board because of the assets.

After last night's info, I'd say that there are a number of bricks fallen in to place but, like others, there is still that execution risk. Happy to give GR 2 weeks to give us a formal update which should give us some assay results as well.
The main takeaways from last night are that Suzhou are driving this (can't see GR keeping pace and he'll be out later this year), the pilot mine will begin as soon as they can and that debt-funding won't be a problem.
I said last week that I reckoned that we were on the verge of a re-rate and last night's update confirms that.

Acker - I must be in a forgiving mood with GR tonight. He did ramble a bit and there was a bit of corporate-eese in what he was saying but, for me, the Chinese are driving this and we should all benefit... significantly.
The caution I have is that he dithers and fails to keep us informed but the Chinese will take care of the 1st concern... jury is still out on the latter. Perhaps, he should have RNS'd the review of strategy?

I agree SK - however, once GR has committed to the pilot, he needs to do much better on comms, keep the market informed and up to date. Sounds like Suzhou will keep driving Prem forward BUT he cannot forget about all the other shareholders.

Well, I reckon what we're seeing with the review of strategy is the Chinese making their presence felt... I'm taking this as a real positive. I was looking for an accelerated plan and that's what we're getting. A significant pilot mine sounds good and, if it's not this year, it will be next. 13K drilled is more than I expected.
The risk is that GR doesn't land on a decision but I think the Chinese won't let him dither.
Sounds like we'll get some significant news in 2 or 3 weeks.
He does need to put a line in the sand regarding the amount of resource/RUS/DFS - I'd be nervous if we go too far without us having a baseline to work from.
BUT, on the whole, I'm surprised and encouraged at the news.

Chinese are clearly very active - for me... this is good.

SK - I like the idea of a significant pilot. 13K mtrs drilled - sounds better than expected.

I agree Wolf - that coupled with our Chinese friends coming on board. I doubt that they want a competitor at the helm!

I agree, Acker. GR has been feeding us with hopes and aspirations but no concrete plans yet. I'm looking for a reason to have some trust and confidence in GR and he has an opportunity to give us all a reason this week.
I've made my views know on whether Prem should be building mines - the short version is a resounding "NO"!

I'm wondering if Suzhou are starting to flex their muscles and that's partly why NH has gone! For me, if there's a wee bit of disruption then it will be worth it. I guess that it's a possibility that GR becomes chairman and that he gives up the CEO role!!
As for the RNS and/or the Q&A, I'm really looking to see GR re-set the comms - give us a plan and tell us what the progress is and what the issues are.
It's a small thing but the other day, the country manager sounded quite bullish - he mentioned a 3 month timescale, Sounded as if he knew what the plan is and what he's got to do... got me wondering if all the Zulu drilling would be complete in 3 months time?

I agree, SK. NH has been more interested in other projects.