Member Info for steward1

Don't know much about customs but can we assume that it has actually left for Zim... could the hold-up be in the customs dept of the country of departure?
I just thought that GR might be refusing to pass on a brown envelope to get it release!

"We have enough money till next year!"... that's made me laugh!

Sorry to hear that Aidan... been there twice, once voluntarily and once I could see it coming months in advance... was still a shock nevertheless. Have to say after both occasions, I took my career in different directions and loved it... now I'm my own boss and doing something that I have a real passion for... one door closes and another opens... hoping it all turns out well for you.

Johnny - I'm aligned with your comments on each of the projects...

I'd add that the MNH loan might be converted to % holding soon and, who knows, they might be looking for more cash soon too. I'm sure that GR will argue that the only solution there is for him to buy 100%... hopefully, that will be resisted by the BoD.

With Zulu, GR has still to tell us about the scope of the DFS in relation to the EPO area... whilst I'd like him to come clean on this, I hope he holds off until we've got some positive news and the sp is higher.

Burn rate is £1m every 75 days and my guess is that the burn rate will increase with drilling camp set up and in full flow and with a 3rd rig due... that's why I'd go for early October. Any depression in the sp as a result will hopefully be more than balanced by positive test results. GR needs to get the lab out of customs or get samples sent off for official testing.

Johnny - I think you can certainly pick up a pattern and there is such a thing as a Prem drift (it's back in to a drift again). I'm afraid that I've been too cautious with Prem over the years and I couldn't be called a trader. Similarly, I was tempted to sell everything recently but didn't.
I suspect that we'll start getting posts next week (maybe when we've gone below 0.18) about the imminence of test results or an RHA deal or a Circum event.
However, I'm looking forward to, I'd suggest, later next month or early October when we do get some positive info on test results... quickly followed by the next fundraise. Meantime, my guess is that the drift will continue.

Hi speel,
I've had posts deleted on this thread before... the monitoring is patchy at best but if you get too personal or accusatory then there's a chance that your posts will disappear. I suspect that some reporting by other posters goes on and there are certainly those who would want to dominate a board... not necessarily individuals... if you pay attention, you'll see patterns developing... someone like Acker is quite open and honest about what he does but I've got my strong suspicions that there's a group who have the inside track at times and will co-ordinate their posts and their trading activity. To present some authenticity, they'll deliberately get it wrong at times. Clearly, they won't trade all their holdings but I suspect that they've made a pretty penny.
They need volatility and that's what PREM has... sharp moves on very little volume - so depending on their last trades, they'll ramp or deramp or be silent... they don't need to win on every trade but someone in the know could have easily doubled their money in the last month alone. Their goal is to hold longer term because there is huge potential in Zulu - happily, their influence will subside over time as we get results and as the sp moves higher.
Anyone investing here needs to know that they should treat anything which anyone says with some scepticism and suspicion... including me!

Hey Bick - don't get me wrong, I think GR needs to get more drills on site but there's no point if the right stuff isn't in the ground... the market is looking for confirmation that the lithium is there and that the quality is what we hope for... that's why we've got an sp of 0.2p! If satisfactory progress had been made and if we had the 1st test results prior to this and the last fundraising then the sp would be sitting somewhere between 0.3 and 0.5.... substantially higher than where we're currently at.

Bick - testing results (assuming they're positive) would have boosted the sp and the cost of the current dilution would have been significantly less! We need test results and a 3rd rig (and a 4th and 5th rig given the EPO area) asap. The costs of the dilutions at this stage are really significant because they will be magnified further down the road.
My view is that the market is waiting for confirmation of the quality of what is in the ground initially and then how much is there... testing results are the no. 1 priority!

Yes, johnny - for the lab to be on site now, it would have been released earlier in the week... and in my estimation, it would have been in time for the RNS... BUT nothing was mentioned in the RNS... so I reckon it is still in Customs.
I expect that there is no RHA deal yet either and we've not heard if JG has upped his holding yet. The last couple of weeks ramping has been shameful!

Acker - you couldn't make this up, could you... the key piece of kit to get the market onside with GR has been sitting idle in Customs for over a month.
Do you think GR would have the sense to start sending some of the drilling samples off to the official analysis lab in South Africa or Germany or wherever it is... is it a 4 week turnaround for these guys... we could have had some official results by now!!!

johnnypc - I agree. GR doesn't seem to grasp that we all know that he isn't telling the whole truth and nothing but the truth, but he still persists in withholding info. And he doesn't understand that if he was to come clean, it would be to his credit... be transparent about the plan and the costs... allow for some slippage but he should just tell us when he expects things to be done and how much it will cost?
He gets hammered because he continues with this pretence!

You're in your prime, railwayman2!!! Can't wait til I get there!!!

Snowking - I doubt if the funds are going to last beyond October. Current burn rate seems to be £1mil every 75 days... plus, whilst it's good that GR is moving in to the EPO area, we have no confirmation that the published estimate for the DFS includes that area... highly unlikely, I'd suggest.
And, with no mention of the test lab yesterday, I suspect that it's not out of customs yet... how much is it going to cost to get that released? Drill results are still weeks away and there's a danger that the test lab might be delayed so long that it provides no advantage and a wasted spend. We need it to be GR's priority... meantime, that churn you mention will continue for a while.

Acker - I think he'll want a JV, hopefully, with a minority stake.

I've got a five year window on this and I'm hoping that the full DFS (including the EPO) will give us a market value in hundreds of millions but, once the mining starts, I can see it in the low billions... factoring in that there could be barrow-loads of gold and other rare/precious metals!

Yes, Acker - I've got a lot of sympathy with that view. I'm still firmly and resolutely of the opinion that GR should step aside... I had heard rumours that he was but so far, that's all they were... actually, if he relinquished his position that would be another reason for the sp to re-rate!

Spot on speel - the man needs to take some focus pills or make way for someone else!

speel - start of June to middle of August is 75 days, not 45 days!

Burn rate is currently £1mil every 75 days... I think that will accelerate as testing begins and as they move more in to the EPO area.

If we all believe that the test results will be positive then we're expecting the sp to rise so the "small chunk" approach makes sense.

I don't think he will/should go for more MNH until the sp is substantially higher... I'd hope that the sp would be well on it's way to 2p before he dabbled!!

Clearly, the RHA RNS and yesterday's RNS were attempts to push the sp higher... GR really needs to grasp that the market is waiting for test results before a re-rating.

I agree Acker - fund-raising was expected and, after the dip a couple of weeks ago, I feared that the price would be 0.16 or less. 0.2 is fine and only £1mil... very pleased that he's doing this still in small chunks. Of course, if we had some results from the drilling, the price could have been much higher. I'm encouraged that he's now moved into the EPO area and that he has listed all those minerals which could be in the ground... it's shaping up nicely.
I expect some test results before the next placing at a much higher sp (some time in October).
Looking good!

Bick- my understanding is that you just can't remove an impairment because you might think it's a better asset than it was and the removal needs some documentary evidence supplied by experts.
It's significant because there are plenty of investors who won't touch a company if the main asset is impaired... that's why I'm surprised that we had one of the bigger investment managers with a holding, albeit a small one. What is clear is that PREM is on the radar of these bigger fund managers... the removal of the impairment might tick another box in their criteria for investing... the on-site test results might be another... and the DFS will open the floodgates and I suspect that many big fund managers will want to add PREM to their green portfolios.