Member Info for steward1

Acker - don't think that GR has the bandwith to cope with everything even with a COO on board. And this is the big risk - we didn't go for a JV on Zulu so we're still depending on GR... he will continue to be a bottle neck!!

Eurasia seems to have had quite a jump today on the back of potential peace. I seem to remember someone suggesting that some folk moved their money from Eua to Prem... perhaps, some money is heading back?

Sounds as if there's a chink of light for peace... which would be just brilliant.
Will be very interesting to see what then happens with Russia, Putin and the Oligarchs!
Specific to us, it will be interesting to see what new policies governments will bring to accelerate the move to renewables.
Has anyone got any holdings that will do well with peace in Europe?

Yes, if we get to October and we have the Zulu DFS and a good chunk of news out of the EPO area then we'll be in a very good position. With continued good assay results and a RUS which multiplies the current estimate, the sp should steadily rise.

The plan for the EPO area would help - on its own, Zulu is a rather tasty asset BUT the real prize is the EPO area... not just lithium but potentially gold and other rare metals in an area 57 times the size of Zulu.
I'm not known for my optimism but if you were to look 5 years ahead, we could have several mines producing and we would have a market cap of billions and a dividend of 100's of millions. If GR can play his cards right and we don't give away too much, we would all be very blessed indeed!

What do you think, Snowking... has Suzhou been buying more than their 13.3%?

Do you think JG and GR have been/will be buying to maintain their % holdings?

I think we debated this to death last week, gemell1..... but I don't think it was the 'best' deal on the table. I'm not so sure that all the offers could be compared easily though. It is what it is but GR has ensured that the door has been left open.

These things aren't easy to interpret!!! Anyway, there's a possibility of someone stepping in.

When one considers the scale of the EPO area, I wouldn't be surprised if ultimately Prem has a number of different partners.

Interesting Bridgedogg1, I read it as... if someone, for example, offered £20m for the remaining 50% offtake, Suzhou could then offer £20m for it... and they would then get it. I didn't read it that Suzhou could take 25% at £10m... likewise, if someone offered GR £50m for 100% of the offtake... Suzhou would have the option to offer £50m for 100% and they'd be entitled to it. Or if someone offered £200m to buyout Prem altogether, Suzhou could match that and get 100% of Prem (as long as holders voted in favour, of course)! ????????????????

johnny - I believe that until Suzhou have satisfied all the conditions, another deal could be done. I could be wrong.
Also, I found it interesting that GR kept 50% of the offtake back... could that be a move to leave the door open to someone else doing a parallel deal to Suzhou's deal... and, if it's on better terms, could it force Suzhou to match those terms?
How would things look if we had Suzhou plus another major on board?
Whilst, the Suzhou deal wouldn't have been my way of doing it, GR is still a canny old soul!!
We've not heard anything regarding the samples sent to the German lab... this could be a surprise!
Just a point on where the sp is now - if we get any confirming info about Zulu (i.e. a good assay result RNS) then I think we'll move back to 0.4 or above quickly. I do hope that we won't see another drift.

I'd say that it's a possibility but now less than likely.
There could be some fireworks in the next 2 weeks if there's a hint that someone else wants to spoil the party for Suzhou. By all accounts someone was building a stake through Peel in February but there's no clarity on that.
Also, if there's a significant RUS, we could see a spike!
With Prem, expect the unexpected!

If that's the case, catsize, maybe you could advise GR!

Acker - I can't see any advantage in holding back assay results??

Been here since 2017... I should get a medal!

Here's another one who thinks that comments on LSE can shift the sp... get real, Watcher36!

This is where I'd strongly argue that they just don't have the capacity to deliver what they need to deliver on Zulu and the EPO area as well as some of these other distractions. Last week's deal puts a lot of pressure on delivering results on Zulu/EPO in the next 6 months.
If GR can prove that there is £xmillion coming from RHA imminently then great but information on RHA (and MNH, for that matter) has been very poor.
And referring to assay results - I think the continuous publication of results is a must and would more likely be positive for the sp.

Well worth a listen. Very positive outlook!

There's a hint that there's more to the RHA/MNH stories than GR has previously said publicly. apparently, if I picked this up properly, MNH is looking to part-finance RHA... does anyone know what's going on?

Whichever way you look at last week's deal, we've got an interesting 6 months ahead.
My reading of the RNS would suggest that other investors can make an offer before 28th March (assuming that Suzhou haven't satisfied all conditions by then). I could be wrong on this.
Between 28th March and 7th September, if another investor makes an offer, Suzhou gets 1st go at matching it. This might suggest that it wouldn't be worthwhile anyone else making an offer.
After 7th September, it is open season again.
By that stage, Suzhou will want to have tied up any additional involvement that they want in Prem... will they be happy to stick at 13.3%...I doubt it.
By that stage, GR will want to, at the least, have started negotiations to get the funding for the mine build at Zulu - he's already stated that he may look for debt to do that but who knows? I don't think that financial institutions will give him a loan until he has a DFS so he may need to go for another arrangement.
I reckon Suzhou will want to start negotiations about expanding their interest in Prem as soon as they can - partly to block anyone else making a move in September and partly because they'll be able to make the most out of GR not having results and/or a DFS... I think GR will do well to delay these until he has more evidence of Zulu results and about what's in the ground in the EPO area.
It's therefore critical that GR gets more results from the Zulu area asap, gets drilling going in the EPO area and gets a handle on, for example, what gold is in the EPO area. It's been 3 weeks since the last assay results so come on George, where are they?
I'd suggest that GR has a lot on his plate with the above and that he doesn't have the bandwith for any faffing about with other projects. I wasn't impressed with his general demeanour in last week's interview and I hope that he now understands the urgency.
I do think GR has been "caught out" by last week's deal and his need to get funds... I sincerely hope that he doesn't get caught out again in the next 6 months.
I agree with some that the Zulu project has been de-risked by the provision of funding but I do think that the stakes are raised in these next 6 months... GR needs to be moving heaven and earth to be in the best position he can be to get more funding. I'll not comment on whether I think GR is up to the job!

Degrasse - I'd be interested to know who you're quoting. One certainly has to learn from the past and there is a very reasonable human trait "once bitten, twice shy". Has GR learnt from the past would be my question! And given how many times some of us have been bitten by GR, it really isn't any surprise that folks are not confident in his decision making or his leadership! It seems that every new chapter, that GR writes, reads the same as previous chapters. Perhaps, you would be better using your wisdom advising GR about how he can write a new story!

Still a major execution risk! Track record of spending effectively and delivering on time is poor/non-existent. And, of course, GR has had enough cash to complete the DFS before but let's not go there again!