Member Info for steward1

Just reflecting on the last week - for me, it has reinforced that GR is out of his league. Kudos to him for getting the EPO... no doubt about that. He's got 10/11 days to sort something out that can be communicated to the market and that we're going to be happy about (after all, at this stage, he should be making us really happy and the sp should be soaring).
I'd be more than happy with a statement that says we've got funding for the DFS and we'll be working on a longer term partnership. Retaining 100% for this DFS stage would be well-received but it would not be if he's saying that his intention is to go it alone for the longer term.
Given what is at stake with Zulu and given the potential, he has to avoid diluting at this stage to fund other pet projects. It seems madness that he is signalling to the market that he'll take advantage of the sp to build his empire... that has backfired on him and is disproportionately impacting the sp.
Keep it simple George - it's all about Zulu!

How does this sound?

GR to secure funding (loan or take-off agreement) for DFS – £1-2 million initially. Further funding to be sought as sp increases and as DFS results shared. Action to accelerate DFS being considered.
For post-DFS, GR to set out the strategy for progressing Zulu post-DFS and to confirm that they’ll be seeking a partner with the appropriate track record. Also to confirm that those potential partners have already approached PREM and are already in discussions.
GR to confirm that no other fundraising to be done to buy anything else until sp is above 1p.
GR to confirm that he is stepping aside.
Clarity on income from MNH.

Snowking - that's reassuring and an approach that I could support, Pity that this wasn't said in the RNS.
It would be helpful to hear whether GR is looking to take advantage of the sp to go on a shopping trip - for me, that was the worrying aspect of the way that the RNS was worded.

I agree wholeheartedly with your sentiments - he doesn't get it that people are/were invested for Zulu and not for his empire building. I'm OK with him trying to keep as much of PREM as is reasonable given that he should be in a very strong negotiating position but he needs to be realistic. Perhaps, he can handle the DFS BUT there's a whole load of work that needs done in preparation for the delivery of that DFS and being on the front foot ready to roll in 14 months.
Either separate out Zulu with a JV partner or sell everything else to focus on Zulu!

Hey Acker, you seem to have the inside track on what's going on? What's your take on the RNS?

Who knows - maybe, we'll see someone takeover PREM... I can imagine that there are some who might happily pay a few hundred million to get their hands on Zulu.

If I can attempt to be constructive, GR should explain what he meant in the MNH paragraph. Let's press for some clarification - perhaps, he can do another interview. Can't see me being comfortable to invest more until he explains more.
There has to be a question about his leadership - he's promised many times before to get other people in/step aside.

Aidan - I've been around since 2017 and, in that time, GR has only made one good move - that was applying for the EPO, That, in itself, was part of his kingdom-building which has resulted in zero return for holders so far, He doesn't have the capacity to dig a hole in his back garden never mind run Zulu plus all of the other bits and pieces accumulated... and now he is signalling that he wants to dilute further and add more trinkets. I can only see the sp dropping/drifting for the next 14 months as he returns to holders time and again to have his salary paid.

I agree Spud. Today shows how out of his depth he really is and just isn't the right person to progress Zulu. He just doesn't get it. No-one wants him to go on a shopping trip.

Posh - the ominous paragraph is the one mentioning MNH. GR is effectively saying that he's going to take the opportunity to raise funds for who knows what and cash in! They could consolidate and within that consolidation, raise cash.... it's GR up to his old tricks! As someone else has said, he must have a shopping list that he's desperate to buy - unfortunately, he's not done anything positive with any asset to date.

Not sure about that - I expect plenty of folks haven't been able to sell yet on the way down!

And, of course, if there's some sort of placing, it will be well below the current price!

calpos - the issue and the worry is not the funding of Zulu, it is whatever else GR is looking to fund. He has a habit of raising funds and sinking some of those funds into assets which are not profitable or have major issues. He thinks that he's running some major conglomerate but the vast majority of people here are only interested in Zulu. The RNS clearly signals that the PREM board (i.e. GR) is going to raise funds for other projects. Unfortunately, GR has no track record of making any money out of any project!!

Aspenwood - the ominous paragraph is the one mentioning MNH. GR is effectively saying that he's going to take the opportunity to raise funds for who knows what and cash in! They could consolidate and within that consolidation, raise cash.... it's GR up to his old tricks!

I'd say so, Frankie.

Newbee - the ominous paragraph is the one mentioning MNH. GR is effectively saying that he's going to take the opportunity to raise funds for who knows what and cash in! They could consolidate and within that consolidation, raise cash.... it's GR up to his old tricks!

Rob - the ominous paragraph is the one mentioning MNH. GR is effectively saying that he's going to take the opportunity to raise funds for who knows what and cash in! They could consolidate and within that consolidation, raise cash.... it's GR up to his old tricks!

Mark - the ominous paragraph is the one mentioning MNH. GR is effectively saying that he's going to take the opportunity to raise funds for who knows what and cash in! They could consolidate and within that consolidation, raise cash.... it's GR up to his old tricks!

The RNS is GR's way of saying that the board can do whatever they like and that means dilution - I reckon he wants cash for other stuff (buy more MNH / re-start RHA / some other shiny thing ).

I agree - if you've watched the history of this company, you'll think that you've seen this before and you would be right!
Dilution at what price... without the hope to see any return for a number of years!! Can only see this retracing now... I'm out!

No - I'm taking back my previous comment. GR taking the opportunity to fundraise for MNH isn't good news... next up a fundraise for RHA as well... both of which are unproven with regards to providing any profit for shareholders.
He really is the poorest of CEO's!