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Hey Snowking - that kind of post is pretty dispicable! You know that yo can't post like that without backing it up with fact! You also know as well as I do that GR isn't going to give this up until the DFS is done... because it should be worth multiples of what it is now.

If I didn't laugh, I would cry - yesterday's photos were tragic.

They're only one example of GR's inability to do anything right... and the major issue here is that we're going to get some sort of "comprehensive" update this month (but it will probably be late) and GR has the opportunity to throw a spanner in the works with each of them...

Zulu DFS - delayed and could cost more than the stated amount? Parts delayed?
RHA - will there or won't there be a deal? Modifications required are more than previously thought?
MNH - still don't know if they're making money or not?
Circum - imminent? If the DFS does come good, will GR sell or hold?

Will he announce a deal so complex that no-one knows if its any good or not... he's got a track record of this? Maybe, he'll change strategy again - go standalone for Zulu or not?

Confidence in GR is at an all time low - the only feather in his cap is the EPO but he can't even capitalise on that!!!!

No drills in sight though!!??!!

According to Mines and Mining Development Minister Winston Chitando, RHA isn't going to be operating until 2022 - I'm sure Snowking was predicting a deal in early May! Looks like you're being fed some dodgy info Snowking! I reckon there's a heap of work to be done before anything can be produced, hence the delay.

And still no sign of the 625m new shares! Wonder what's going on... not much, it appears!!

As if things weren't bad enough, looks like there'll be no movement on RHA until next year...

https://allafrica.com/stories/202106090258.html

Dazed - what would be the excuse for the fiasco before the pandemic hit?

It's been like this for years Watcher36... you have to wonder what is going on. 625m new shares were due to hit the market yesterday... no RNS yet... these things usually happen quickly. What's the hold-up with this?

Some will argue that every negative about PREM is outwith GR's control but there's been way too many issues over the years for this to be the case. I don't think the figures were published but I believe he only got 2 billion or so shares (which were probably all his) voting for him to remain in place... it's a pity that there's so much inertia amongst holders. His inability to do anything on time or to deliver any income whatsoever calls into question everything. I think, maybe, 3 or 4 years ago, a group of shareholders were seriously considering going out to Zimbabwe to check out some of the assets - to check that they were actually there and that PREM owned them!!!!

I think the sp will continue to be depressed until we see the 1st results of what is actually in the ground - which is months away. There might be the odd wee spike but this is all about Zulu - I happen to think that MNH, RHA, any other asset will hold the sp back... get rid of all of them and get GR to step aside!

AIMHO, of course. DYOR!

Snowking - can't see why you're inviting me to repeat all the problems with PREM and GR?

IMHO, anyone deciding whether to buy or sell needs to have close look at GR's track record. And, of course, you don't have to look that far to see that he can't even get a drilling camp up and drilling in a reasonable timescale.

He has produced zero income from years of diluting... the £1million sitting in the bank will soon go.

Circum has been imminent for years - I wouldn't expect any news from them for a couple of months. Will that mean that PREM get $10m in August or even this year... very much doubt it.

RHA "back on line" - has it ever been "on line"? How much income has RHA delivered?

You didn't mention MNH - I wonder why.

And of course there are 625m new shares hitting the market this week - big potential to depress the sp further!

Rather than thinking that there is plenty to go well, because of GR's track record, I'd suggest a better starting point is that there is plenty to go badly!

I've been open and said that I've got a sum of money waiting to invest in PREM - happy to confirm as well that I don't now hold anywhere near as much as I did hold a few years ago. I'm expecting the sp to drift down until we get the next update... can't see any reason to buy at this point!

So.... I was going to take a break from my incessant posting about the ills of Prem and GR but then Snowking posts an outlandish, speculative note!
Acker has addressed some points and I'll address a couple more...
Circum - GR has often lamented how he doesn't get any info about Circum progress, dates, etc so I doubt very much if there is any significant news unless GR intends to sell our holding... can he do that at a profit....mmmmm.... doubt it!
MNH - Snowking has gone way down in my estimation.... did I read that right.... he's suggesting that we buy all of MNH without knowing their financial position!!!????!!!! And without, to date, getting a penny in return for our investment... why on earth would he think that it is a profit making mine and why oh why, given GR's track record, does he think that GR would be able to turn it around if it is loss-making?? It seems that the Pandora Group have a fantasist as a spokesperson!
Maybe I will take that break....

Bickmaster - good post. I would describe your views as "informed" rather than sceptical. Yes, very disappointing that he has an opportunity to give more detail about progress (or lack of) and he doesn't give anymore info than we already know and he doesn't acknowledge that the DFS is already delayed. Like others, I'd be worried by his use of "at this time" when talking about the cost and timescale of the DFS.
With 625 million shares coming on to the market, there doesn't appear to be a compelling reason to buy for another 4 weeks or so

happyhols - I disagree about GR... he could retire now as a rich man. I'm sure that he has a very healthy pension pot too. He could retire a much, much richer man if he did his job well or if he stepped aside. No doubt he knows he needs to deliver but whether he's got the wherewithal to do that is a different question altogether.

happyhols - appreciate your comments.
Zulu is a great asset and, yes, has big potential. Unfortunately, GR is holding this back because there's a whole load of manipulation of holders, half truths, misleading info and false promises. No-one can trust what he says or that he'll do what he says he will do - the sp reflects that. I'm holding out for that time when GR is no longer at the helm or when he has some sort of Damascus Road revelation that he needs to change his ways.
Until we have some info from him that can be trusted, e.g. DFS results, this share is going to continue to be volatile!

Thanks for the chuckle, dazed.

Watch the sp drift for the next 4 weeks.

Almost 3 months since the EPO was granted and

- detailed planning still being done
- construction of the exploration camp hasn't been completed (I'm sure we were told that it was to be completed by the end of April)
- road repairs (could be costly)
- location of equipment to site (equipment isn't on site yet... months after it was all mobilised)
- other work associated with the resource expansion and definition drilling (not been costed!!!)
I'm hearing that we're in for a shock when we hear what the DFS will cost and that progress will continue to be slow!

As suspected, the DFS has not been fully costed and is now a couple of months behind and we're only a couple of months into it.

And there you go, GR is re-considering how the DFS should be funded????? Just can't stick to a plan!

No progress on RHA (I'm sure Snowking, whose hunches are usually correct, was expecting a deal early last month) or MNH (looking more and more dodgy!).

You couldn't make this up!

Thanks Acker - simply trying to demonstrate that GR's continued oversight of PREM and more specifically Zulu is going to be poor for the sp. I'd much rather have transparent, honest communication of bad news than this manipulation of shareholders.

I saw some speculation that GR was back on the JV track (doubt if it's true) and, of course, there's the idea of spinning it out... GR is possibly re-visiting options but, if he is, it demonstrates his inability to select a strategy and stick to it... again poor for the sp!

If only we had a good CEO in place!

If there was any evidence at all that GR has changed his ways then, yes, buying in now might be a smart move.

However, specifically relating to the DFS (which is the only game in town), GR has already set expectations that drilling would have started over a month ago... he's gone silent on it and is unwilling/unable to give a date for starting now... I'm of the view that it won't start for a while yet and that the 14 months will be closer to 18 months... GR is unlikely to re-visit timescales publicly and will string us along.

He has quoted an historical price for the DFS even though the area in question has multiplied in size - I think there's a shock coming on this at some stage with additional dilution needed for the DFS.

And of course, he has indicated that he wants to buy more of MNH - incredulous given that we don't know anything about the finances on this asset!

RHA - he can't seem to get a deal over the line for this... deja vu!!!

These spasms of optimism in the sp don't have any foundation in reality. I can't see the sp maintaining an upward rise until after the dilution and until we get the comprehensive update that GR promised weeks if not months ago... don't hold your breath! Happy Wednesday everyone!!

What do you think is going to be financed? The main thing is the Zulu DFS and GR has been clear (and has headroom of 5 billion shares to prove it) that he's not looking for a deal for that. We're waiting to see how much he's going to dilute and what for. RHA - don't hold your breath for any stunning deal!

You would think that with an article like that GR should get his finger out and get the DFS moving... maybe doing all he can to speed it up and to catch up on the time lost already....... but he seems completely impotent and unable to influence progress.

Never mind, I'm sure he'll pull a rabbit out a hat some time soon!

And what's your explanation for the delay?