Member Info for steward1

Acker - you make me laugh sometimes. GR is as greedy as the rest of us and he's going to look for the highest price. The chances of PREM or Zulu being sold at this stage is 10000000000:1.
You're credibility has sunk in my eyes... quite ridiculous statement!

Alert - thanks for the clarification. I'm not sure that I made my point clearly enough. My understanding is that drilling started a long time before the lab was even on site, never mind calibrated and commissioned. It sat waiting for customs clearance for weeks/months. Yes, the libs process is minutes but I'd have assumed that if samples were ready they could have been sent externally rather than wait for libs to be operational.
Whatever the truth is, I read the RNS as positive - we'll get initial verification sooner and they're taking steps to add additional capacity for crushing, etc. (to date that seems to have been the bottle neck). I do think that we'll see additional drilling capacity added next... once GR has got funding sorted. A serious jv partner will want to accelerate the DFS and will want to get the mine built sooner than GR is planning.

Have to say that I'm the first to consider conspiracy theories whenever we get an RNS from GR but I think that there could be a simple and positive(?) explanation for samples going externally. It's been evident since the libs facility was commissioned that they couldn't process what was being drilled and rather than wait for the libs facility to catch up, they've sent some samples from the first 5 drill holes externally. As at Friday, they still had samples of 14 other drill holes to process through libs.
Another positive explanation is that they always planned to process some samples through libs and some externally and this is us hearing for the 1st time that some have gone external.
Others would know better than me whether or not they need to process everything through libs first??
Either way, it does mean that we'll get independent verification sooner than we had all expected... I read this as a positive on Friday and I'm still holding to that view.

However, I have to agree with others that there are still lots of holes (see what I did there) in GR's communication.

How would I know that?
It sounds like it will happen sooner than some thought but it depends whether you believe the person/people saying that.

No-one believed him, Phillip

Acker - I agree that GR's stepping aside would have the most immediate and biggest boost to the SP but I do think events will overtake this and that the tipping point I mention will happen. The progress at Zulu might be slow but each announcement of grades and how much lithium and other assets are in the ground will boost the sp. Some potential suitors will need more definite results before they make a move but the fact that GR is actively considering a deal will begin to flush out more interested parties. For a long time, I've thought that it has been more likely that the sp would fall rather than rise, I now think the opposite.
I know that, based on experience, it's a big ask but I expect GR to continue with a stream of half decent news and that we'll end the year substantially higher than we are now.

Interesting post, profitbags but it is stating the obvious.

The really important questions are what will the market do tomorrow, next week, next month, next year... or when/if x, y or z happens. I'd be the 1st to say that Prem has issues but I'd also say that there is sufficient news in the pipeline to boost the sp.
There is also the question of whether a share/an asset is umder-valued or over-valued... it's not an exact science and I'd suggest the sentiment has a lot to do with it. Sentiment can and does change and that does influence the sp without anything else about an asset or performance changing.
Currently, the Prem sp is hugely impacted by sentiment... I expect that to begin to change.

Hoping for a very positive week - without any further news, I think we'll recover to 0.24/0.25.
With more positive news on grades, we could be at 0.3... if independent verification of grades comes this week then we're sailing higher. AIMHO

Acker - I can't now find the other deal that the Chinese did in Zim and was announced recently but it appeared that the Chinese paid a healthy amount for a stake in a company that was a fraction of the size of Zulu.
I'm looking forward to Monday morning... are you?

JG - tipping point is here, I'd suggest. I did have a target of 1p by Christmas and then dropped that after MNH and lack of progress on drilling. I might just re-instate that - that would give us a market cap of £190m or so. I'll be checking down the back of the sofa and raiding the grandkids piggy banks to see what else I can invest.
Acker - I'm pretty sure that GR has had approaches and offers but there's no done deal yet. PREM was one company of many who presented to the Chinese - I don't think that any advanced discussions were taking place. You have to remember that PREM is a quoted company and any deal will reflect the market valuation... I reckon that the valuation is about to rocket.

Certainly hope that GR hasn't committed to any deal yet.
Whilst, there are still big holes in GR's update, have to say that I'm quite happy with it. I hope that more news regarding grades is on the way. If there is to be any kind of partial deal soon then we need the sp a whole lot higher than it is now and that needs more news about grades. Unlike others, I think there are key things in the update that means we'll see the sp begin to recover and rise. First of all, GR is becoming more and more confident that there is plenty of what we want in the ground (in the end, maybe all our expectations will be exceeded). Secondly, the possibility of no further dilution for the Zulu DFS is a positive too (now just need the same statement for MNH). Thirdly, there does seem to be some action to speed things up but, more importantly, if the Chinese or anyone else takes a minority stake, we'll see the DFS accelerated so I do think the Q3 target will be reached. Fourthly, a deal does signal the beginning of the end for GR.
The big question is what price for a deal!

Jonny -I don't think that I'm in the business of posting rumours so apologies for the vagueness. They can be pretty constant regarding PREM.

misstestes - I think that a lot of folk will tell you that it is JG and that he is in this for the long term.

Edgy - I believe it is James G. Wonder why he's being so bullish today?

Some off-board speculation and rumour so I won't repeat it but, as far as it's possible to apply any kind of certainty to PREM, it sounded plausible. Have to emphasise that there's been a load of speculation and rumour, the majority of which hasn't come to fruition but I added to my holding yesterday.... something that I've not been inclined to do.
One or two of Acker's posts earlier today were interesting!??! Maybe Snowking could elaborate on why he thinks that there might be 2 or 3 RNS's in the pipeline.!??! Drilling results, Circum plus what else??????
I wouldn't be surprised if there is an all-encompassing update coming that is more than just drill results.... but, equally, I might be wrong.
Apologies for being oblique!

My expectations have always been that the DFS would run over and that it would cost more too... if anyone has done their research then it would be silly to think otherwise. The lack of any further drilling results is very disappointing but not unexpected... you really can't put any store in what GR says because he just doesn't have a handle on anything... I just hope that it is true that he has COO coming soon.

Having said all that there are some signals that there is some unexpected good news on the way... whether it materialises is anyone's guess. My "much hoped for" tipping point might be coming sooner than I had thought for the last 2 weeks.

All the more important for GR to get a wiggle on then.

I'm confident that other non-Chinese companies will not leave Zimbabwe for the Chinese to hoover up. Security of supply will be paramount.

How might that compare with Zulu, Snowking?

Hairy,
I'm well aware that Aberdonians are tighter than tight with their money so very surprised to see one invested in Prem!

Bick/Acker - concur with Bick's comments completely.

A statement that PREM won't buy anymore of MNH until, say, DFS is complete would boost the sp... and that boost of the sp is desperately needed given that there is likely to be a fundraise very soon.

In the whole scheme of things, MNH isn't worth the time that GR will be spending on it to wangle some sort of deal!

Acker - how much of PREM, i.e. Zulu, are you prepared to give up to purchase MNH?