Member Info for steward1

If you're getting in to name calling, Mugwump, I've obviously touched a nerve.
If anyone is interested in doing their research - go back and look at what happened with RHA, MNH and Circum... GR's poor decision making all over them!
Ultimately, the market is the judge of GR and the market has not liked his last two RNS's. With further major fundraising on the way and a "complex" deal as Snowking says - the short term is not looking positive for either GR or the sp!

mugwump - I'm one of those who would be highly critical of GR and, yes, if I had the power, I'd remove him tomorrow.... and the sp would soar. OK, there was a delay with the EPO - I now understand that was a technical legal matter and not down to a corrupt Zim gov't - and he should get credit for securing the asset in the first place and then being grated the EPO.
HOWEVER.....
RHA - it was GR's decision to down tools, not the Zim gov't. There was an agreement in place with them and GR found that he couldn't deliver his side so he decided to chance his arm and attempt to have the agreement re-written.
MNH - he's bought a chunk of a company without doing enough DD and later found that it wasn't going to produce the income that he expected. We're all still in the dark about this one... all down to GR.... and he wants to buy more!!!
The ever imminent Circum - when GR was buying chunks of this, he had the choice to use the funds for progressing Zulu (before any thought of an EPO)... no, he chose to buy Circum and any realisation of that asset is as far away as ever. And, of course, he then found that he couldn't progress Zulu because, guess what, he had no funds!
We have zero income from millions of pounds sunk into a variety of assets over 7 years - all when GR has been at the helm... if that's not a poor CEO then....
And the big issue now is not Zulu in my mind, it is what he wants for all those other non-producing assets - he will happily take shareholders money for who knows what!

If Zulu is going to be so big - sell everything else and put the money in to the Zulu project (and watch the sp rocket).

AIMHO!
BTW - are you one of the 65?

fatsuperman - you might want to factor in whether any of the examples you're looking at also had a fundraising need to shore up other non-producing assets. I reckon that funding for MNH, RHA, gold mines, Katete, general running expenses will be more than what is required for DFS!

With a fundraising on the way, it will likely be heavily discounted - I'd wait until then before buying.

Tightly scripted and he didn't look happy!

Can imagine someone sitting out of shot saying "Don't mention the funding, George!!!!"

Mafs - I reckon GR got the nod that the EPO was going to be granted and he then engaged EAS... EAS haven't been able to get anyone to bite (remember that they're advisers, not funders) and they've had 5 weeks to do that for what is a hot product, i.e. lithium. Seems to be something not quite right - especially when GR has apparently had so many approaches!

iky - if Zulu is separated out, you'll get some new shares for Zulu (which would still be at the early stages of the DFS)... value is debatable and it depends how much GR allows for funding the DFS, etc.
You'll also have PREM shares which I'd suggest would be almost worthless... RHA still mothballed and might need more funding from holders, MNH - not sure that we're getting any income from that and might need more funding from holders for development/purchase, general funds/expenses required, etc, etc., Circum... it's been imminent for 4 years!
Can't see how GR is going to get out of this without damaging the sp further.

And Snowking's prediction of 0.3 in April seems way wide of the mark!

Meant to add that I stand by my previous prediction of the sp drifting to 0.15 and a fundraise at 0.12, possibly lower.

Hey Acker,
it seems GR has confirmed in the RNS that he will be looking for funds for PREM, i.e. the non-Zulu parts of it, plus funding for the Zulu DFS. I'm really keen that Newco for Zulu is set up but GR's dilemma is what then happens to PREM. Clearly, there is a positive value for Zulu but I'd suggest the rest of PREM is negative and will be a drag on the progress and value of Zulu. He is in quite a dilemma. Tying up funding for Zulu with the rest of PREM is going to be difficult to square off. I think a share consolidation with significant allowance for funding non-Zulu assets is coming.
Will the sp react positively to that.. unlikely!

Could they finally be getting some income from MNH?

Have to say that I'm relieved - if he is leaving the funding update until the AGM, there's no rush and I'd suggest that there's bigger news. I'm hoping that Zulu is separated out, new board, new leadership.

Very happy to eat my words!

The cynic in me would suggest a fundraising RNS tomorrow (maybe just before or after close of play) so that we've got the Easter weekend to dampen the effect of it down.

If not, there's one of 3 scenarios, GR is finding it difficult to get a deal at all or the terms of any deal are not acceptable to him (perhaps, involving him stepping aside?) or there's a complicated arrangement afoot which is taking time to agree. Remember, PREM has no income/profit to speak of and any serious lender will do their due diligence and look at GR's record... would you lend money to him?

And for those of you who suggested that he's only looking for a million or two to get the Zulu DFS moving... seems straightforward enough so why has he been unable to have that sorted in time for an RNS this morning? His US advisers were appointed some weeks ago now.

For those of you who are new to PREM, welcome to the world of GR... there is no RNS as promised. Perhaps, it will come later today but probably not.

You have to ask yourself why not, what's up, will there be good news after all?

History tells us that GR finds it difficult to get finance and to strike a deal. An alternative view to why the sp didn't hold the rise after the grant of the EPO is that there was a realisation that GR is still in charge and that he's going to raise more funds and not just for Zulu... taking the opportunity to get funds for MNH, RHA, general funds and whatever else takes his fancy! He's also not going for a JV and many were hoping/expecting for that.

And the problem for GR is that, because of the delay of the RNS, the sp will drift/fall and whatever price he needed to raise funds at will drift lower and the cost to all holders increases... it's simple maths and this is why GR is the wrong person to be in charge.

The greater cost of having GR at the helm is the damage to the sp - his salary pales into insignificance!!! Time for the group of 65 and Goozee to do something about it!

You guys keep setting me up here... to set your expectations, do your research and go back to previous timescales that GR has set and whether we end up with good news or bad news. The proposed deal with Cadence would be appropriate to look at. Others can correct me if I'm wrong but GR has hardly ever kept to a date that he has set himself and, I'm afraid, has hardly ever done a deal that has pleased holders... I'm expecting a delay in the news and a complicated deal which involves some form of fundraising for more than just Zulu (whichever way it is dressed up).
Once I see the news and the impact on the sp is out of the way, I'll buy more. In other words, like others, I expect the sp to fall before it rises. AIMHO.

That news is over a week old - why would PREM post it now? Considering GR's MO, I suspect that the announcement that we're all nervous about isn't coming today or tomorrow but he wants to keep the motor running. Rocky couple of days ahead... hold on tight!
AIMHO.

I'm not missing the point fatsuperman... he's a trader and is very open about it... and he's posting as you might expect a trader to post.

The other option is that there could be a bot running in the background processing lots of small buys and sells using an algo to keep the price up.... now who would do that?

It's rather naive, Chuggley, to think that your likes and dislikes should be imposed on the board. Simply to illustrate, perhaps, some of us who have been here a lot longer (4 years in my case) might have an issue with someone who has a 12-24 month timescale.
And there's just as much danger in losing money listening to overly positive comments... consider all those who bought in in the days following the EPO announcement!