Member Info for steward1

Well, GR has done it again. How on earth does the loan interest rate higher than funding the plant!!!

Raaydaar, I'd only see it that bleak if GH (not GR!) doesn't achieve the required grade and recovery. If GH delivers and Glencore convert that LOI then it's a different ball game altogether. I'm still optimistic that GH will deliver. I don't doubt that the next week could turn in to 2 or 3 weeks. Glencore might be patient but it will be the final curtain if they walk away.

If there is a placing over the weekend, I'll be buying more next week.

Acker - I did read that part and, if GR penned that then it raises a wee concern but I suspect that his name is being put to these statements now until GH gets the title. The encouraging part is that the OEM is picking it up on Monday morning without any further delay.

Ballymena - I don't know how you can deduce from my post that Glencore are not on site!

Let's hope not, Acker!

Had a chance to look over the RNS without the rush from earlier. Sounds like some tweaking to happen. OEM taking the lead is interesting - GH's impact already being felt.

Glencore won't make a move until the grade and recovery targets are met so I do think that Prem will use up the headroom now... after hours RNS today.

Not the best start for GH but not the worst.

Some positive progress but still work to do.

Ballymena - I'll repeat what I said to Jaglith...

'Jaglith - I can't understand why you think that he is still in charge. He might have the title but his wings were seriously clipped by Canmax and he needs spend signed off by one of the Canmax finance bods. He can't raise funds without Canmax's agreement. He's got experts on site who know what they're doing and who aren't going to accept an armchair amateur's input - if you think that GR is the go-to guy on site for decisions and issue resolution, you have no idea how this work is done in practice. GH is now in post (it's only a matter of time before he gets the CEO title) and, again, he'll be doing things his way... he's absolutely not going to be told what to do by GR. And Glencore are doing Canmax a huge favour by keeping a watching brief as well before they step in. The notion that you've got that GR is still running the show is way wide of the mark!'

As for Glencore - are you saying that they have never been on site?

Plant is shut???? Where's your evidence of this?

I agree that GR is relaxing at home but that's because he has no role to play now.

LOI news expected next week and there's no sign of the imminent placing that the doomsters have been banging on about for weeks. Given the obligations to Canmax that come with converting the LOI, I expect Glencore to make their move now.

You've been predicting and willing Prem's demise for years, Jaglith and it's still alive and kicking with a huge opportunity to recover.

Take those blinkers off - it's not about GR now... wait and see!

You've been playing that old record of CMC working on a placing forever, Jaglith... you better hope that the placing, if there is going to be one, comes before the test update and the Glencore news.

They're all out again this morning willing Prem to fail... watch for Acker's subtle changes of tone and you'll know that he's bought back in.

There was due to be an update next week due to the deadline for the LOI in any event... good to know that Glencore have been on site this week. With the obligations to Canmax, Glencore will not be prepared to leave themselves open to failing to meet those obligations by not having control at Zulu... there's bigger news to come!

Apparently, Canmax, Glencore and GH have all been on site this week. Sounds like Glencore are not as remote and disinterested as some have suggested here.

Sounds like the test run has achieved what it intended. Independent results are being sought so news expected tomorrow or next week... feeling less like a rumour and more like a leak... who knows!

It's all history now, Profitbags - GR's antics are a thing of the past but the worst, in my mind, was when he raised the money for the Zulu DFS and then spent it on Circum!!

'no interest', Acker?

GR has to take any spend to Canmax for approval. I'd suggest that they do have interest in what's happening at Zulu.

Cam147 - I agree.

I'm surprised that GR hasn't gone ahead with consolidation yet. There's a good chance that something else will happen.

120% up in 2 weeks with more news to come.

And I doubt very much that Glencore would take on the obligations to Canmax and be totally dependent on a minnow like Prem to deliver those obligations.

You're being disingenuous, Ballymena, and very much underplaying what is going on here. The LOI comes with obligations to Canmax. If you think Glencore have issued the LOI as a whim... well... I guess 'each to their own'!

Jaglith - I can't understand why you think that he is still in charge. He might have the title but his wings were seriously clipped by Canmax and he needs spend signed off by one of the Canmax finance bods. He can't raise funds without Canmax's agreement. He's got experts on site who know what they're doing and who aren't going to accept an armchair amateur's input - if you think that GR is the go-to guy on site for decisions and issue resolution, you have no idea how this work is done in practice. GH is now in post (it's only a matter of time before he gets the CEO title) and, again, he'll be doing things his way... he's absolutely not going to be told what to do by GR. And Glencore are doing Canmax a huge favour by keeping a watching brief as well before they step in. The notion that you've got that GR is still running the show is way wide of the mark!

Jaglith - you're suggesting that the motivation for my posting about you and your attitude is some disappointment in GR... you just don't get it, do you...deflect all you like but you'd be better taking a hard look at yourself.

It is in everyone's interest that Prem succeeds except a few vulture!

Apologies for missing you from the rogue's gallery, raaydaar... at least you've got a sense of humour... 'err on the negative side' - that's quite an understatement!

Jaglith - somewhere in you're upbringing, you've accepted the lie that nothing else matters than making money... it doesn't matter how you do it even if it means trampling on others... In fact, the way that you post sounds like you enjoy seeing other people lose. Did you steal other kids' dinner money and torture small animals when you were younger?

Whatever you do, don't pass your attitude on to your kids, if you've got them. The world has got enough people on the dark side!