Member Info for steward1

Nookie - I'm not a trader... just don't have the balls for it.

Sorry to say it but if there is no further news in the next week or so then there is a danger that we head back to 0.3 and below.

Bick,
I think a senior partner (e.g. Suzhou) would have the capability and more of an incentive to deliver so I could see them finishing the DFS and starting a mine this year. I just can't see GR doing it in those timescales. I think we're agreed on that.
Today's news about the state of the DFS was so disappointing and it doesn't bode well for future delivery!
I have no doubt that he has already turned his attention to how he will spend the spare few million that he will have available.

Bick,
my preference is a JV on Zulu only with Prem as the junior partner - let the professionals who have a track record of delivery get on with it. I'd go as far to say that by the time the Zulu mine is built and operational, we'll have given up 50% of PREM - the endgame will be the same but if it is left to GR then the BIG risk is that the DFS isn't delivered by the eoy and that the mine is then delayed. How much of Prem is going to be given up in the meantime to pursue the EPO area and GR's other projects?

Remoc67 - I'm very aware that the environment is good for Prem on the face of it BUT I'm afraid that the route chosen by GR only stacks up if he can deliver and I'm afraid that in my experience of PREM since 2017 is that he has not delivered anything on time... that's not a de-ramp, that's a fact!

Acker - have to be honest and say that I wasn't impressed with the interview and, for me, exposes GR's flaws. We discover that the DFS was going to be delayed (why has he not been candid about this before?) and that this investment simply brings the DFS back to the Q3 target.. although we had to get the GR squirm before we got that info. We discover that the remaining budget for the DFS was just under $5m when the last published estimate for the whole DFS was just under $6m. So, in the last year, GR seems to have only spent $1m on the DFS??!!??
We don't get any real info about what the deal means for the EPO area and Rb doesn't get a mention.
Does this fill me with confidence that the £12m will be well spent and that he'll start hitting targets? Even with the Chinese on board, I have to say that I'm not convinced now despite my optimism of yesterday and this morning.
On paper, for shareholders, it seems a better choice to retain as much of Prem at this stage as possible but, for that option to be the right option, we need to be hitting dates and delivering. In reality, I think that there's a real risk that we don't see the progress that we need to see and that this route will ultimately be less rewarding for shareholders.
Sorry to put a damper on what should be a good day but I'm holding out for a hostile offer!
If we don't get that in the next 2 weeks then I think the sp will struggle to move from it's current level (and may drift) until we get a RUS (no mention of that either).

Interview... mmm??? I was really expecting much more from GR.
DFS had slipped and now is being brought back... I think we're looking at Sept/Oct. It seems that GR might have a few million £ to play with which raises the spectre of spending on MNH or RHA.
No mention of the EPO area or anything else for that matter except a hint that there's discussion about the future of Prem.
I'm feeling rather deflated now!

Johnny, I expected a higher spike (which may yet come) and I think we'll settle above 0.4. Wait for the Stockbox interview, Johnny!

Pretty good start to the day.
I expect some spikes today but I expect the sp will settle at a place that reflects the potential for the sp this year and the likelihood of a hostile bid.

Daz - absolutely agree that the hard work really begins now BUT GR now has the funds and a stakeholder who has big reasons for accelerating it all... and we've not even touched on the EPO area or on gold or on anything else that they find!

Daz - on your value point, Suzhou will expect the value of Prem to multiply too. If you're suggesting that they (and you) think Prem will still be worth 0.4 once the DFS is complete then that's a pretty poor de-ramp.

Daz - I see what you're saying but 2 weeks ago (before the Ukraine invasion), I'd have argued that we're in a different environment now. Today, I'd argue much more strongly that we're even more in a different environment and one that not only benefits Prem but also puts a great deal of pressure on Prem to deliver and deliver quickly. Suzhou will accelerate everything. The Zim gov't will want everything accelerated.
From a political, social, financial, economic, environmental and demand point of view, it is in everyone's interest to get the Lithium out of the ground asap. One could not have said that back in 2017!

Yes, Johnny, you've got it. That aspect of the deal is pretty good. It will be at commercial rates and with the accelerated move to greener technology, Lithium should continue its rise for a while yet before it settles.

I'll be really interested to see how the execution of the plan goes now. Whilst, it's not a JV, I suspect that Suzhou will get more involved... GR may well have his "feet held to the fire" more now but he has the funding now to get the job done.
I'd like him to be clear on the timescale and the scope for the DFS (and RUS), and how the EPO area will be progressed.
Remember Suzhou now has an interest in the EPO area as well and that really is the big prize. From memory £12m is more than was estimated for the original DFS so I think we'll see the EPO area accelerated as well.

I concur, Acker. This deal sets the baseline. It does look like a very good deal for Suzhou and other companies will be looking on thinking that there is plenty of scope to bid more or offer a differently structured deal.

A take-off at commercial rates is very good for Prem and for now we retain 86% of Prem. We'll see an acceleration of the DFS which I think is great and GR now has a professional team to call on. Puts Prem on a very firm footing especially with having one of their guys on the board... this should stop GR spending on pet projects. It ticks a lot of boxes for me.

I might have preferred a higher cash value for a lower % (don't we all!) but I'm happy. I think 1p by the end of April is on the cards.

Who would have thought that GR would be doing a fundraise at a premium to the market value!? LOL!!!

Is our friendly 10m buyer back?

I think we've had this debate before, Bick??

If I was in GR's shoes, I'd be looking to "formalise" the results that he's had so far to support the funding deal - I accept that won't include all drilling results for the whole of the Zulu area and extension zone but it will form a baseline for any deal. The expected future increase in resource can be accommodated in the t's&c's.
Will Zulu follow the normal, traditional route for development... I suspect not.

Johnny - this might be wrong but the radio silence from Prem seems to be different this time. There's speculation that a big announcement is really imminent (using the proper dictionary term) - could be RUS, could be the funding deal. Assay results delayed to be combined with the announcement so I'd suggest that it's a RUS... but how many times have we been here before!

Nothing is ever as it seems, Watcher36 - even on this board!!!

Thought this was a Prem board... just checked... yes it is a Prem board!