Member Info for steward1

Acker - I'm sure that you'll agree that the big prize sits in the EPO area and that's why Suzhou wanted a deal to get a chunk of Prem rather than just a chunk of Zulu. There is a huge risk that we lose it all on the cheap because of GR's strategy (which he has flipped-flopped on) coupled with his poor delivery.
He needs to do everything possible to get the sp moving north and that includes being clear on the plans for the next 6 months and getting assay results published... he's been given the money to do it so he really needs to be getting on with it rather than pontificating on meaningless interviews.
I think that it is naive to think that Suzhou are going to simply open a door to debt-funding the mine. He's given them exclusivity on a deal for the next 6 months and I think that he either needs to resist any deal until the RUS and DFS are done or that any deal is on Zulu alone.
Whilst Snowking says that the downside is limited and the upside potential is massive, I'd say that the chance of us benefitting from that upside has been reduced.

Snowking - regards Zulu, I don't know what info GR will need to put into an RNS that he can't, at this stage, tell us separately... he doesn't need a RNS to tell us how he is deploying the rigs that he has already announced, for example. Could it be funding for the mine build... I hope not... because the deal for DFS funding was cheap as chips and nothing has changed since... so it would be an equally poor deal.
I reckon the next RNS will be about RHA or MNH and there's a very good chance that the market won't respond well to that... the sp has got further to fall, imho, before I consider buying more.
I could say more, Snowking, but it would be deja vu for you and I... the bottom line is that the sp is depressed (yet again) because GR is out of his depth, he is too set in his ways and he can't deliver. It's about time that the Pandora group gave GR an ultimatum.

All you need to say, news, is that there's a potential bid coming for ALL, also chaired by our chairperson, Neil Herbert.

If you want people to read your posts, just make them a bit easier to read.

news - I find your posts very confusing but I think that I've worked out that you're not posting about Prem! Try the ALL board.

Ouch - a 30m sale!

Vetta - you have no evidence that Suzhou are buying so it would be appropriate that you are clear that it is your opinion only. Friday's RNS clearly shows that they only hold the shares issued for the deal. They would have had to declare what they held at the time of the declaration to Prem which I assume was on 30th March at the earliest.

That doesn't help either, Acker! Any future negotiations are going to have a ceiling on the Li price based on that interview.

Anyway, something has got to give here... if a competent management team were running Prem, concrete progress would be happening and comms would be good and the sp would be a lot higher.. 1p!! GR may be excited about the Suzhou rep coming on board but I reckon GR is going to have a tough time satisfying them... whilst he's a likeable guy, I think Suzhou will make moves to oust him. They don't need to own a majority to do this, they just need to persuade enough holders to go with their plan.
I concur with Johnnypc and Acker, the sp isn't going anywhere soon without some significant news of progress. I think it could drift to mid-20's... so disappointing when we all think that it is worth way more!
Whilst I'm critical of GR, I really want him to be able to step away with some dignity and pride - I hope that he's wise enough to do that before he is pushed!

Well... I wasn't expecting any new revelations that might require a RNS but I was expecting to be a wee bit more informed... sadly, it fell well short for me! Some examples -
He could have said something about how he will accelerate the DFS but he didn't. He mentioned the old budget for the DFS but he chose not to state what the new budget is.
No information about the issue on assay results.
He mentions about this level of risk in starting the mine... which suggests to me that the DFS won't be fully complete to start the mine this year.
Disappointed that he has described the spend on the EPO area in the next 6 month as "nominal".
Disappointed that he has mentioned doing some work on other potential assets - not in the Zulu or EPO areas. He's being distracted again.
These interviews are an opportunity for GR to demonstrate that he is delivering - I simply can't understand why he is not even attempting to do that. It would be very interesting to hear what Suzhou would say about this interview.
Without some further detail and concrete evidence of progress, the drift will continue imho.

I do think that it is in GR's gift to change the sentiment and to get the sp motoring... we now know that the DFS hasn't progressed as quickly as many had expected/hoped... so draw a line under that and give us a plan to get it done and a timescale. Tell us how it's now going to be accelerated. Be open and honest about the assay results - if it is the case that Prem hasn't had any for over a month, tell us and tell us why, draw a line under it and tell us when we can expect future results to come through. Tell us what the plans are with the EPO area. Tell us what the plans are for gold and anything else in the ground. And for goodness sake, tell us what's happening with MNH.
He needs to draw a line under the past performance by doing things differently now - don't keep us guessing and get rid of the obfuscation and avoidance.
Good CEO's communicate well and don't hide. From the snippet, I don't hold out much hope that this next interview is going to satisfy the market - everybody knows the potential for Prem to become huge but it's only potential until we see delivery against a plan... and he needs to tell us what the plan is.

Not sure if I'm relieved or disappointed about the TR1!
So even in that wee snipett of the interview, GR dismisses the desire to get assay results as being the wrong focus... we get fed scraps of info from GR and those assay results would prove that things are moving forward. I don't know if he says anymore in the interview but I think we all want to know what the actual position is with assay results (and everything else). We need some confidence that GR is progressing everything... I think that's the only thing now that will get the sp moving.

Some interesting stuff today - personally, I can't see Suzhou buying the whole of Prem on the cheap. They could potentially buy 30% relatively cheaply but it does seem that there is a very high % in sticky hands and if there's any sign that they are buying then the sp will shoot up. They may look to get a deal before the 6 month window is closed that gives them a higher % but I think GR will resist that.
FWIW, I think the sp will begin to rise more when we see significant progress on results and progress in the EPO area. It's now within GR's gift to get the sp motoring and I for one am waiting to hear the plans for completing the DFS, getting the RUS and exploring the EPO area. I don't think that we'll get anything meaningful quite yet (and the sp may drift/level off) but I'm hoping we'll see the sp start to shift later in April.
If there's news that GR is spending on RHA and/or MNH then I think the sp falls, I'm afraid!

I think the Pandora Group let slip that their combined holding was about 30%? I don't know if JG is part of that group but he holds maybe 6% now. Suzhou have 13.3%. I can't for the life of me understand why the Pandora group seem to support GR's strategy... would there be circumstances where they and others combined to oust GR? I think that numbers could stack up against GR now and he could find his coat on a shaky hook if he doesn't make enough progress. Lets see how the next few months go but, as I've said, I can see Suzhou making a move before the 6 months are up.
BTW, I'm back to looking out for my tipping point!

Profitbags - I don't think that they wanted to give up control of anything (GR has history of this) and they were desperate for cash. My guess is that most offers involved either giving up control of Zulu or giving up most of Prem.

Everything links back to GR -
lack of assay results (what contract did he have in place to get results done?)
lack of evidence of what's in the ground (not enough drilling)
lack of progress - nothing has ever been done on time
lack of planning
lack of clarity/openness - avoidance (and squirming) when straightforward questions are asked
lack of comms
raising more money than is needed and concern that he's going to spend it on RHA and MNH

and now, no-one (apart from the Pandora group?) believe that he's going to deliver a DFS and start a mine this year.

All of the above contributes to why the nature of the deal was not liked by the market because all of the above will continue going forward... and because he now has more on his plate, there is more that can be delayed and can go wrong.

GR isn't a CEO! He can sniff out lithium but he hasn't proved able to get anything out of the ground!

I'm sure that Suzhou will bring something to the table but I expect that they will have some sort of coup later this year and GR will be moved aside.

Romanwolf - I agree with your logic but I'd have done that calculation on the day that the deal was announced. The market has spoken on the deal and since then the market cap has sunk. So I'd take today's market cap and divide that by the total shares in issue - I get just under 0.29p. The danger is that MM's see that there's some sport tomorrow and might sink the sp further to hit stop losses.
There are a couple of things that could send the sp the other way but my guess is that we'll not get a good interview from GR tomorrow (if he's going to bother) - the likelihood of GR being prepared to answer the questions which will satisfy the market is very low. The other potential positive would be a TR1 from Suzhou with a higher holding than the 13.3% they've already got... would the market respond well to that? Maybe, maybe not.
Have to say that it's pretty naive to think that the sp will rise because there will be more shares.
It's the same ole same ole from GR/Prem - we need solid progress on a decent plan.

nookie - despite what I'm saying, for me, it depends on what GR does next!!!

Yes, Johnny, of course they're not selling but the MC has 3 billion more shares to be shared out to.

For me, what is critical is that GR gets some decent, credible, believable information out about the DFS and the EPO area. He needs to explain what is happening about the assay results and testing. I'm no mining expert but it seems that those who have some expertise in that area are suggesting that, given where he is at, his ambitions of getting the DFS done and a mine started this year are fantasy. GR doesn't have any track record whatsoever of getting things done on time, never mind accelerating them. If this had been a JV with Suzhou taking over the reigns then yes, possibly, but I agree with others - GR still has the majority vote on the board and he'll do it his way.
Still a rollercoaster for me!

Historically, as Johnny says, the sp has hardly ever gone up on an RNS (except the EPO grant) and, yes, there are those who will bank their profits - that has probably been a successful strategy. Typically, GR doesn't build on the momentum that good news brings and we get into the Prem drift (it's a thing!).
Personally, I'm surprised that the sp is where it is - the market didn't react well to the initial news and there are 3 billion shares to add - it's simple maths that the sp could go down unless there is some other positive news or some big buying.
IMHO, RHA is not that news and neither is MNH! The market is not going to like GR getting a stash of cash and spending it on two dubious, failed projects.
I'm waiting to hear GR's plans to get the DFS done and to hear about his plans for the EPO area. For me the stockbox interviews don't cut it.
Contrary to SK's suggestion of a range of 0.4-0.5, I'd suggest that we'll not move out of the 0.3-0.4 range until there is more significant news on progress!

I'm calm and chilled, Watcher... no need to worry about me but thanks for your concern.
Did you know that the 1st sign that there could be something up is that there is no RNS when one is expected?? As I say, nothing would surprise me with Prem.

Cash should've been in the bank yesterday and no RNS today... just typical of GR and Prem!! Nothing surprises me - no, actually, if GR delivers anything on time then I'll be surprised!!

SK seems to have acknowledged that the RUS isn't going to come anytime soon but the DFS and the mine will be on track... I'm not sure that these can all be consistent with each other but hey, they might be in SK's and GR's mind. To get anywhere near the RUS, DFS and getting a mine build started, there are quite a few truck loads of drilling that needs to happen and quite a lot of testing to be done. Given progress to date, it seems that progress will have to multiply over the summer... just can't see things happening that quickly.