Member Info for steward1

I agree Happy - very encouraged from the updates.
Clearly, there are some irons in the fire that allows GR to say that there might not be further dilution - sounds like there could be some loan repayments coming back from MNH and haven't specifically heard about RHA but I got a hint that there's a deal coming for that. If it brings in some cash then that's fine but I wouldn't want it t be a distraction.
Zulu - I think that GR should have the upper hand in any negotiation so he can demand a good deal.

From what I've heard so far, it seems that there are big positives - possibly no more dilution, a deal in the offing (offtake would suit us best), shortlist for COO and additional board members. Blue day, anyone?

Acker - my assumption is that it is on it's way to being profitable and firstly paying back its debt, if they chose to, and then paying dividends. I'm sure that if it has cash sitting in the bank, GR will want to get his mitts on it in some way!

Didn't think that I'd be writing this but it seems that we've finally got a cash-generating asset in Otjozondu - it might not benefit us immediately but it could mean that the edge is taken off any future funding of Zulu. Along with a potential off-take agreement with another party, things are looking a whole load more promising!

Apparently, Otjozondu is now cash generative too!

Snowking - don't take that most recent rant as my current sentiment towards PREM. I do believe we're on the cusp of a major re-rating. GR still needs to step aside and bring in other people BUT the tipping point is almost here.

Chuggley/Snowking - you're just inviting me to highlight the issues here. And I guess that it's important to point out that you're pointing to things GR said back in the Spring when he was full of optimism!
Let's look at the timescale as an example.... End of March - GR said that the DFS had been "initiated" and that the drilling camp would be operational by the end of April - it didn't happen in that timescale... nowhere near! Is that because the start was delayed or was it because there was some delay once started or both? There have been delays in both getting the rigs on site and setting up the test lab and, here we are, over 7 months since the EPO was granted with only one hole's tests results published. Yes, he should RNS delays but point to the RNS where he clearly states a delay.
It simply isn't clear what scope the DFS has and, therefore (even a bad project manager can tell you this), the cost is unclear. GR just needs to come clean - something that he has failed to do in all the time that I've been here.
Snowking - you must remember that many holders didn't invest at the start of this year. They invested years ago and have seen the sp plummet and the number of shares in issue multiply. Not only that, they have seen money raised for one purpose being used for another purpose (Circum)... at best, this is misleading... they have seen money invested in projects disappear with little hope of it being returned (MNH) and a disastrous decision to close down operations at its only project, at that time, with any hope of providing income (RHA). If you're suggesting at all that GR is an exemplar in delivery and communication then you're plain wrong! He is way out of his league!

Johnny - compared to his last visit to London, I think shareholders are much, much more clued up so I'm hopeful that the right questions will be asked... whether the complete answers will or can be given is a different matter. There was an infamous video call that GR held where he just got abuse and I hope that it doesn't go down that route.
Whilst I can criticise old GR, I am optimistic that this will turn very good for us all... who knows, tomorrow might be another big step in the right direction.

Wish I could trade Johnny - thought I was being positive!

Wow Chuggley... I'm flabbergasted by that post. No-one, including you, can say when the DFS started and when it is due to finish. No-one can say whether the DFS will cover just the pre-EPO area, the post-EPO area or both. The previously quoted cost was quoted way before any EPO grant so we can only assume that the quoted cost is for the pre-EPO area... or is it? No-one knows!!!!!!!!
If folks are going along to the meeting tomorrow with old Chugger's attitude, it'll be a good ole back-slapping time and who knows, GR will be welcomed as a hero and lifted aloft on Chugger's and Snowking's shoulders.
Get a grip Chuggley!

It is striking how pessimism can quite quickly take over when there is no update from GR in a timescale that is expected. I can't be there tomorrow night but GR needs to be held to account about the lack of progress since the EPO was granted (whether or not there is an RNS between now and tomorrow night).
I've been talking about a "tipping point" when the progress and news from Zulu far outweighs any negativity about GR - unfortunately that tipping point is stubbornly still on the downside... I'm optimistic that things will change in that regard soon but it is so frustrating!
I had thought that the next fundraising would be this month but I'm now thinking that it will be next - when you consider the lack of progress and the fact that the 3rd drill hasn't been used, I reckon GR hasn't been spending as much as he might have planned for... and he'll hold off for as long as possible to allow more results to be published.

milno - there are some hints that GR may well be considering some sort of deal well before the DFS is complete. What I do know is that there are plenty of people out there who are very desperate to secure lithium supply over the next few years. I wouldn't be surprised if GR is considering an off-take agreement with, say, a Chinese battery maker and, in return, he gets the development of the mine paid for. And, if one interested party is prepared to commit to Zulu prior to the completion of the DFS then I'm pretty sure that others will not want to miss out... I'm pretty sure that, as the test results are published over the next few months, GR's phone will be getting hotter and hotter!
Perhaps, I'm adding 1 plus 1 and getting 10000 but GR is rumoured to be speaking to the Chinese in London. So, personally, I think that there will be an operational mine sooner than we all think.
And, of course, an off-take agreement allows holders to retain 100% and the need for further dilution is limited... what's not to like?

Disappointed that I won't be there - other commitments and I'm at the wrong end of the country! However, I'd be very surprised if he will say anything meaningful unless there is an RNS beforehand.... so I expect an RNS tomorrow or Wednesday.

There's a good Scottish word - gallus - it means being bold or daring. Seems to me that GR needs to be more gallus with Zulu. I agree - get more rigs in and get a COO to get things moving.
He really needs to publish more test results before Wed evening as well!

Not sure who BPC are but I suspect that the conditions are quite different, being at the beginning of the lithium wave.

Acker - whilst it won't an easy road, I do expect Zim to get there and be truly "open to business". Look at other African countries who are now producing oil. With lithium, the prize for the Zim gov't and the Zim people is huge - could be transformational for thousands of lives whether directly or indirectly. The prize is simply too big to mess up so whether it's GR or the Chinese or some other interested parties (and there are many of them), there'll be a lithium mine opening in Zulu within the next 2-3 years.
GR just needs to get a crack on to recover lost time!

Chuggley - I'm afraid other commitments and being north of the border prevent me from travelling (quite disappointed because it would be good to meet you all in person) - it would be good if they could set up a Zoom link... wouldn't be too difficult to do.
I sincerely hope that we still own Zulu when it starts producing and with prices at the current level or higher. Prem's priority should surely be to speed up the DFS so that we can get there without any additional delay - if GR gets the message that holders are OK with a delay then I reckon that he'll take his merry old time. I would support any fundraising that has an acceleration of the DFS as its focus.
The bigger picture is that there is other stuff in the ground at Zulu and potentially at other sites. Delays not only shove Zulu further away but also pushes these other projects over the horizon. I'd like to see the Zulu DFS accelerated so that PREM can then get on to other things too.
Given Zulu, especially, but also given these other projects, GR needs to be thinking much, much bigger and build an organisation that can deliver without delay. The fact that he doesn't yet have the 3rd rig operational and isn't considering a 4th or 5th rig says to me that he's trying to do this on a shoestring.
I reckon that an appointment of a credible COO followed by a plan to accelerate Zulu and a fundraising to support that plan would be a very positive move.

Going to sound a bit Jekyll and Hyde here...
Snowking - don't forget the potential for gold and anything else under the ground. Zulu will be massive!
Chuggley - no one knows where we are with the DFS. I defy anyone to spell out when the original 14 months started and when it is due to end or to spell out the scope (pre and post EPO) or what the cost will be. Most of us think that it is months late and over the published cost but by how much is anyone's guess... quite a damning indictment of our esteemed leader! I don't know how he gets away with it... he will leave any admission of it being late or over budget until the very last minute (although I agree that he holds some sway in Zim).

Welshy - clearly the market was disappointed that there was only one hole tested and that progress is slow. If that is the drag on the sp, GR should listen to the market and do something to accelerate progress and recover some of the time lost. I just think that he's not the right guy to be at the helm just now and I don't know what is stopping him bringing someone else in like a COO and, for me, it is so frustrating that he is swanning off to London for a jolly. There isn't sufficient data available yet to have any meaningful discussions with the Chinese or anyone else. He's playing at being a major Mining CEO!

Let's hope that it is that Chuggley - I suspect so.

There's clearly some logistical challenges in having the capacity to test the amount that they're drilling - I hope that he's had the foresight to start sending samples off to Germany to be independently verified and that the onsite testing doesn't become a bottle-neck.