Member Info for steward1

I'm no Roach fan and would love him to step aside but the info that we've received in the last few weeks has been more than we've ever had... we had a detailed update on each project and the corporate presentation seems to have more info.... just need some news on drilling progress!

If there is some big news on the way regarding PREM or Zulu's future, if I was a betting man, I'd be putting money on a wee coup to unseat GR with a more competent team coming in! I'm surprised that Snowking has been pretty silent this week but maybe there are things afoot that even he is not getting to hear... after all, it seems that the support of the Pandora group or the group of 65 seems to have kept GR in office... and their privileged position might now be at risk!

Interesting! A wee bit more info in there than I've seen before but I'm asking why this has been updated and published... these kinds of presentations are usually done because some other company or funder wants to see it. does this point to something going on behind the scenes? Will we hear soon?

Acker, I think there would be a compelling case for Prem to retain at least partial ownership once the DFS is completed. If there are some board changes with a competent management team in place then we should retain as much as possible.

Acker makes a fair point - things don't usually (ever) work like a dream in PREM.

But as for the blog and the figures contained therein, they're a good stab at what might be in the ground and, yes, there is a bonus with whatever in addition to lithium is down there... likely to be more than lithium and more than gold?

Here's part of my frustration- any dilution at this stage, or indeed until full value is realised, to buy other "dodgy" assets (e.g. MNH) makes no sense at all. As an illustration, if GR uses the headroom that he has to spend on MNH, he would be giving up 25% of PREM... roll forward 5 years and according to the estimate in the blog, PREM could be worth £10 billion - that would mean that 25% would be worth £2.5 billion. MNH is not going to be worth anywhere near that. It just makes no sense whatsoever to give up any of PREM for any other asset... Zulu is a once in a lifetime asset and GR is not going to get anywhere near the return that PREM will get from Zulu!!!!

Regime change is needed.

I suspect that the sp will roar back into action as soon as we get quick and positive drilling results.

On the matter of the future, there are some interesting dynamics which will be fascinating to watch - if Dattels comes on board, I think they may well be prepared to run with this beyond the DFS, build the mine and get it into production... in any event, they should prepare for taking it beyond the DFS (anyone think that he's been running this show all along?).

GR is right in that there are all sorts of interested parties and the rumours of car/battery manufacturers wanting to secure supply in what is more and more becoming a risky world can't be far from the truth. Car manufacturers know that demand will be very strong in the coming years and that supply is unlikely to meet that demand. They will not want to be at the mercy of the market either in terms of supply or price... I think some of them will be prepared to pay a premium for a big stake in Zulu. If the DFS produces the goods then I think we're looking at something close to £1b.

Lots of "ifs and buts" including whether GR can deliver effectively and quickly - hopefully, we're only days or weeks away from seeing the major impact on the sp being Zulu rather than the own goals from MNH, RHA, etc.

I don't know Dattels much, Acker, but I doubt if he's going to be willing to play 2nd fiddle to GR and that he'll be calling the shots... now... would that be a good thing or not?

I'm guessing, Acker, that GR will let the market know about the on-site tests if they're positive... more tweets with spodumene on his head, I suspect. Joking aside, I think this is very significant in terms of how quickly the sp might rise (providing that there's no other own goals). Snowking might be right - we might see results and 1p a lot sooner than we thought.

Yes, Acker... what a mess! Seems that there is now some clarity on the financial position and that they are making a profit (??!!??). However it seems that GR has loaned them $260K at 20% - I don't think even GR would accept a loan at that rate! If they're on a firm financial foundation, why are they so desperate that they would accept a loan at that rate?

It could be a shrewd move by GR though... if MNH default, maybe he picks up the rest of it on the cheap?

Acker, I've got a whole load of sympathy with that view... given where we're at and the potential for Zulu, GR puts at the very top of his list of priorities acquisitions and not Zulu. Have to say that I wouldn't mind him making acquisitions if the sp motors on to say 1 or 1.5 but the market just doesn't trust that he can get good assets at a good price and make money from them. Having said that, I'm encouraged by a couple of things - we've just had the most detailed update that we've ever had and I do get the sense that the DFS results will come sooner rather than later.

Disappointing market open and here was I keeping my bearish thoughts to myself. I reckon the market doesn't like -
- spending more cash on MNH (even though it is a loan - I reckon it's likely to be converted to shares in the future)
- Circum - no news on liquidity event
- RHA - no imminent deal to get it moving again
- Prem priorities - GR looking to expand his empire
Despite the start of drilling and, what feels like, an acceleration of the DFS, it appears that the above are outweighing progress on the DFS and are still holding the sp down.
When is GR going to learn?

That's the key piece of info - drilling started and sounds like they're going to get a canter on with it.

On the other projects, I'm happy that RHA seems to be stuck... doesn't appear to have a compelling reason for PREM to throw money at it. Glad that there's some clarity on MNH but not convinced that it's worth throwing more of our money at. Circum - let's wait and see.

I'm concerned that GR is on the look out for more assets but I see the sp continuing its move up now with drilling started.

Snowking, I'll concede that the bottom was hit a few weeks ago and that the sp should continue it's rise. How quickly it will rise is now down to PREM's delivery of the DFS and the avoidance of any more own goals. I don't have the optimism that you have except if GR steps aside..... which could be imminent??

Sharequests - whilst there is the Circum/Dattells connection, I'd be disappointed if there was a deal at this stage... if my understanding is correct, Circum have got their DFS done and they're now moving to their next stage of development which might include a liquidity event (something we've been waiting for for years). Dattels knows Prem intimately and I'm guessing he is looking to get in on the cheap, if the rumours are correct. One thing in our favour is that GR is likely to have a much higher price in mind than Dattels will want to pay.

You're right, Acker - the company needs to say something to the market at the very least to acknowledge that there is a lot of speculation. Perhaps, there is nothing concrete behind the level of trading but it does show that there seems to be a lot of folks with Prem on their radar and if/when positive news comes then the sp will rocket... whether justified or not.
There was some speculation that Dattels had GR in his back pocket a few years' ago but I suspect that this is not the case now. Personally, I'd like to see a more professional outfit have the Prem reigns but it would have to be at the right price/deal... and I'd rather wait until the DFS is done... Prem would be in a much stronger position then to negotiate.

The link between Circum/Dattels and GR/Prem is a credible one., and I can see why one might takeover the other. I would be very surprised if Dattels would offer the best price for Prem though. One positive is that GR would need to step aside.
In any event, GR shouldn't do any deal until the DFS is much further on.

Rampers out in force led by the ever so trustworthy SK... this is all deja vu. Whispers of a big meeting??? GR was down the hardware shop buying a bigger spade!
If GR is doing a deal just now then it's just another flip-flopping of strategy and AT THIS STAGE it won't be good for holders. Having committed to owning 100% until the DFS is completed, he should stick to his word... otherwise, it's likely to be a dodgy deal with one of his mates. Or does he think the DFS is going to be worse than hoped for? (and he still hasn't cleared up how he is going to pay for the extended DFS).
Spodumene prices are totally irrelevant at this stage - how many years will it be before any is actually produced. And if it is the case that the price is going to be way higher in a couple of years then it's just another reason not to do a deal now.
I think he's spending his time trying to cobble up some restructuring (that's what he does) which is going to complicated and unnecessary.
What he needs to focus on and what we all want to hear about and see evidence of is the drilling starting for the DFS!
BEWARE RAMPERS!

Can't see a sustained rise quite yet - I'd be surprised if it held above 0.2.

Are you selling at this price, Acker?

Ouch - was that a 31m sell?

For someone to buy 58m shares, someone had to sell them!