Member Info for steward1

ASI - thanks for those detailed notes.

What happened to the diamonds from other companies?

Interesting wee article from Zak Mir - he doesn't really say much except

'The bad actors in this case would be shorters, who will do and say anything to bring such companies down, or those who have failed in business themselves.'

Couldn't agree with him more!

https://www.share-talk.com/the-last-day-in-the-life-of-george-roach-ceo-of-premier-african-minerals/

Jaglith - there won't be any surprise about any placing this time around (I was happy to admit that I was wrong about the timing then)... I expect the placing to be at a higher price than today's price... price may already have been set! DYOR... AIMHO.

Oh.... almost forgot... how many times have you called this wrong, Jaglith? I'm sure that you fully expected Zulu to have fallen into the hands of Canmax by now!

Jaglith - you're getting desperate, mate, with your 'below 0.01' but at least you agree that the AGM votes will go through!

What nonsense, Tbob418!!

Every single company that is in existence has had a period where it has produced nothing (Zulu is in that period right now), has needed funding from somewhere and where people have taken an investment risk. In the 21st century, a place to get that funding is AIM... perhaps, put your money somewhere else if you don't want to take the risk.

The issue here is not that there is nothing in the ground to get out or that there is no demand for the end product or that Zulu hasn't attracted significant capital - goodness... getting Canmax to invest surprised everybody and, even more so, the interest from Glencore.

The issue is the plant, it's development and GR. Whether it was Stark or GR doesn't really matter - Stark are gone and GR has a limited role and will soon have no role. The fixes are known and the funding has been partially provided with more on the way once the AGM approves.

If your attitude had prevailed, we wouldn't have planes flying in the sky, oil being produced or the tech that we're all using to have this exchange.

It seems that the shorters are out in force with the same old story. They're reading what's going on all wrong.

Maximum number of shares that some systems and databases can accommodate is 99,999,999,999. Prem, after this placement, are getting close and I believe have been advised by AIM to consolidate... as simple as that.

Martinigirl - I think some on here have been suggesting since the day that Canmax got involved that it was their intention, given GR's experience of failing to deliver, to ultimately take Zulu for zero. For the last two years, they've had every opportunity to push Prem over the edge but they haven't... in fact, quite the opposite. Yes, they will be frustrated and angry at the lack of delivery and how GR has gone about things but I think that they've now succeeded in finally getting GR out... I'd suggest that their support for the AGM is conditional on GR making the announcement to leave. They've also facilitated the interest from Glencore and Glencore are not going to play second fiddle to GR or Prem. GR's departure opens up the way for Glencore to take the lead.

I'd also suggest that Glencore would be none too pleased if they've been invited to get involved on one basis for Canmax to then take a different route... why would Canmax muck Glencore about?

I'll repeat again that Glencore have not nonchalantly issued a LOI because someone there just thought it was a good idea... they've done their DD and they're satisfied that there's plenty of lithium in the ground and that they can get sc6. If the facts said otherwise, they wouldn't even associate themselves with the project.

I've said many times that there is a route to success here... part of that does involve raising more funds. At this stage, I just can't see GR looking to raise the funds without Canmax's support.

What a ridiculous assumption!

Disappointed that we don't have an update today!

Yes, has been a mess for a long time. However, I reckon Canmax grabbed the thistle and offered GR an ultimatum earlier in the year. Order is being brought by them and Glencore... should be a good run up to the AGM, imo.

Jaglith - don't you think that other potential interested parties have looked at Glencore and decided that they don't want to go up against them especially if Canmax were involved in 'proposing' them to GR?

Jaglith - I reckon that Glencore will know better than any of us whether Zulu really has the potential that has been promoted for years... I think that they know it does. Canmax, of course, would be very happy with Glencore taking over. What's £10m to them if they're getting access to all that lithium (and other minerals and Prem's other assets). Either, there'll be a JV with Glencore being the senior partner (something that wouldn't happen with GR as CEO) or Glencore will buy out Prem at a significant premium to the existing sp.

Jaglith - you can attempt to pick holes in what GR did or didn't do (and I'd probably agree with you) but the main point is that he's leaving and that's very good news!

If you can't do basic maths, iky786, then you shouldn't be investing in shares.

You need to take your own view on that, Iky786. I'm looking towards the end of August and, if all goes as anticipated, then my investment should be a multi-bagger.

...looking forward to a blue day today. GR's departure is a game changer... if you've been involved in Prem for as long as I have then you'll know the impact that he has had (I'll resist the temptation to list all the negatives). His departure opens up the way to bring competence and more expertise in and certainly raises the likelihood of a change in ownership structure. We can take some confidence from the fact that Glencore have done their own due diligence - they're a serious company and, through the issue of the LOI, have effectively confirmed that Zulu can and will produce sc6... if they had any doubt, they wouldn't have issued the LOI... they wouldn't even have allowed their name to be associated with GR and Prem.

Are Glencore, as some have suggested, only interested in an off-take... standing by and letting Prem run Zulu? The requirement to manage the repayment of Canmax's prepayment strongly suggests to me that they'll want/insist on running the show... an outfit like Glencore are not going to play second fiddle to Prem so let's see what transpires.

Updates - we might hear about GR's replacement before the AGM which may in turn signal what Glencore will do... given that Glencore will have that responsibility to manage the Canmax prepayment repayment, I'd suggest that they'll, at the very least, have a say on the appointment. We should also get an update on the manufacturer's tests on the flotation plant prior to the AGM.

Likelihood of the AGM agreeing to the fundraise - given the announcements of the last couple of months, I can't see a situation where Canmax would not support this.

Raaydaar - if you think that Glencore have issued a LOI, under the conditions specified, i.e that they take on responsibility for sorting out the 'debt' to Canmax without any real intention of following through on that or getting directly involved at Zulu and or Prem then I'm not going to convince you otherwise. Suffice to say that they can only deliver for Canmax if they are running the show. Do you think that a firm like Glencore is going to sign up to being subserviant to a minnow like Prem? Come on... get real. The blocker, GR, is being removed... that changes everything.

Higher than the current sp, Jaglith... or else I wouldn't have bought back in! The sequence of news is important but I think that there are 2, if not 3, updates coming our way before the AGM.

It's no secret, Jaglith, that Canmax had become exasperated with GR and I think that they demonstrated that in that vote. GR did manage to get them back on board though and that's where we are now... on the cusp of producing sc6, GR departing and Glencore waiting in the wings to pick up 27b shares!

Jaglith - only you can take a negative from the fact that Canmax didn't push Prem over the edge and facilitated a LOI from Glencore!