Member Info for steward1

Quite rightly, Moljen, you're highlighting one of the many, many challenges that the Zim gov't are addressing and one of the many factors why most of the international community are still avoiding investing in Zim. It's a factor on whether anyone big would invest in Prem but the main factor for me is GR... failure to progress things and actually deliver (I think that in previous negotiations, he has looked to keep a significant role which others have not been prepared to give... not surprising!).

At heart, I'm an optimist (surprising for a dour Scotsman!) and I believe that our investments should be a force for good... lithium is an important factor in getting us out of our polluting cars (regardless of what you think of global warming) plus RHA, Zulu, HBR(?) can all contribute to the recovery of Zim and provide much needed jobs for it's desperate population... jobs breed jobs!

Quite apart from the fact that GR's mismanagement is showing a huge loss on my Prem investment, he is also robbing many Zimbabwians of a decent chance of having a decent life... I'd suggest that the impact of the losses on all of us investors pales into insignificance when compared to being a poor Zimbabwian with no job, no money, no hope. This is the thing that really gets to me... in other hands, we would be in a completely different situation and we would have seen both RHA and Zulu much further on and Zimbabwians at work! And that's why I would have no hesitation in supporting a move to get GR to step aside.

I don't doubt that GR is aware of his poor performance... the big reassuring thing for me now is that the Zim gov't are well aware of this too. There is too much at stake for them to allow GR to have free reign so I expect, even if GR doesn't step aside, we'll see progress - they clearly didn't roll over when negotiating RHA ownership with GR. I also don't doubt that the Zim gov't will deliver the cash for RHA following due process and, actually, I wouldn't mind them taking a stake in Zulu if GR is going to cling on to his job.

Despite all of the challenges that Prem faces, I reckon the risk/reward here, at these prices, is still very attractive... and that's why many of us detractors won't sell up and move on. Sub-consciously, we're hoping, even expecting Prem to deliver a significant rise in the sp to either recover our losses or to make some money!

PS On the subject of what's at stake here (vis a vis the Zim people), I'd hope that we could all treat each other with a wee bit more respect.

I thought Moljen's post was balanced too. To balance that as well, I heard the Volvo CEO the other day talk about the exponential growth of electric vehicles and the race for car companies to secure lithium supply direct from the mines.. Lithum demand will grow exponentially as well... even if a new technology comes along, there won't be an instant switch. I do agree though that GR needs to be moving heaven and earth to get Zulu moving!

That the main topic of conversation is electricity when we should be focusing on getting an update on Circum (were we not promised one by now) and on the Zulu/KME fiasco.

Napom... surely you've got something to share?

Smiley - today has been one of those days where nothing constructive has been said. No-one is under any illusion that GR has right royally c##ked up many times since Prem was floated. This latest fiasco with Zulu is further evidence of his incompetence.

I'd certainly be interested in hearing from Napom… rightly or wrongly, as you say, he seems to have an in with what's actually going on.

Smiley and Napom are noticeable by their absence today!

Have they been banned?

Futureisbright - still don't get why you're attacking me. Check what I've said before about GR's delay in letting us know about drilling at Zulu. I think we're on the same side.

Today's RNS is simply confirmation of what we already knew. If you're going to get upset about it then you're quite a few days late!

Futureisbright - not sure what your point is? I agree it's a mess but we already knew that. What we needed was confirmation of what happened to the shares and that's what we've got.

I didn't want to read anything in to the timing, Smiley, but what you say may well be correct.

The more important point is that GR hasn't come up with an excuse to keep the shares... for me that is a stronger indication that other things are moving.

Could be a good day today!

???

We already knew about the no drilling situation... this is just formal confirmation and not before time!

What we need now is an update from yesterday's meeting with Circum...Napom has already indicated that it was positive... maybe he could elaborate on his "Boom" comment.

Moljen - I appreciate you taking the time to put down your thoughts. Such a pity that some on here have lowered themselves to immediately get personal.

I reckon that many will recognise the underlying issues - lack of focus, lack of strategy, lack of a realistic plan, lack of good communication and lack of delivery. I bought in for Zulu believing that assets like that will always come good.

Unfortunately, GR just isn't the right person to make the most of them and I agree 100% that GR is the reason that we find ourselves in the position that we're in. I'd like to see him step aside but I reckon that he'll be carried out in a box before he resigns or retires.

I reckon your suggestions have got some merit - would be good to get this next week out of the way, first. If no positive news on Circum (or anything else), I'd be keen to see Smiley and Napom put pressure on GR to come up with a decent plan. If he doesn't, I'd support an EGM to have him removed.

I still want something official from the company regarding the last share issue!

Napom - thanks for the reminder of what is in GR's hands and the potential... huge rewards if GR (or his successor) can pull it off.

With those assets, it takes some doing to have us sitting with this low an sp (he says sarcastically)!!

However, GR needs to explain more about how he got to a point of a placing to fund Zulu drilling through KME for it to be knocked on the head on the same day... why on earth did he not have all of it tied up before coming to the market? He also needs to explain to us why he didn't tell us immediately that the arranged deal wasn't going ahead. You cannot tell the market one thing and do the opposite without updating the market.

I'm very concerned that he hopes to kick this issue in to the long grass with some spin about Circum and/or a gov't investment in Zulu.

I'd also question GR's confidence in PREM if, as is reported elsewhere on this board, that he didn't want to accept a condition of making up the shortfall if the sp fell! Sounds like he was expecting it to fall!

Potential is great but surely even GR himself can see that his leadership is the problem - he should step aside asap!

Thanks Napom - very helpful.

We should see an RNS then to officially say that?

If we don't get an acceptable explanation and enough information, Smiley, I think we need to raise the issue with the relevant authorities. GR needs to understand that he has overstepped the mark this time and needs to come clean.

In the past some folk here have argued that he is a god-fearing man, implying that he's a man of integrity - if that's true then let's see that integrity!

Smiley - thanks for this. I agree with most of that approach.

I think that it is absolutely critical that we understand what has happened to the shares that were issued and why GR pulled out of the Zulu DFS. I don't think that he gave an acceptable explanation in the interview. The fact that he has only now declared that nothing has progressed suggests to me that he has something to hide. I'd also question what the BoD were doing - are they in cahoots with him or simply unable to exercise any authority?

This is the kind of thing that CEO's simply have to resign for - I think that it is utterly despicable to allow us to be misled for this length of time. And because of this, he shouldn't be chairman either if he can't provide an acceptable explanation.

I certainly understand the scepticism here.

Whilst I think this is really good news, I think the market had been expecting the next RNS to be that the cash is in PREM's account and, obviously, it isn't quite there yet... plus given how long things take in Zim, it could still be days or weeks away. When the cash drops, we should see a boost in the sp.

The problem that we do have and have always had is GR - the RNS is brief and gives no detail. With GR's history, I wouldn't blame anyone for wondering what the MA actually says and whether he is hiding anything. And, yes, there is then the big question of whether GR can deliver.

Is it different this time round? I think it is. I do expect the cash to be received and I do expect GR to be under a whole lot more scrutiny than before - from shareholders and from the Zim gov't. Don't misunderstand me, I'm no apologist for GR - I think he has received the message that he can't do whatever he likes and that we want him to step aside. He needs to find a suitable replacement asap.

Good to see a healthy volume this morning so far - it's not always clear how many are buys v's sells but I'm happy to say that I've added today.

I'd much rather see a steady rise over the next few weeks/months than big spikes and drops. GR needs to keep his finger away from triggering any additional deal until the sp is up around 0.4, imo and he needs to be really careful about what he says to the market.

Let's hope that more good news follows soon - Zulu? Circum?

Great news... finally the MA has been signed. Looking forward to seeing the cash.

Good to see that we'll see a reduction in operating costs as well.

Onwards and upwards from here - after suffering all-time lows, we can surely expect to see the sp heading northwards as further news comes along.

Whilst it would add more frustration, maybe GR has learnt not to announce anything until it's all sorted and the money is actually in the bank. If the final SA has been signed this week then I guess that it could take the Zim govt days or weeks to get the cash sorted.

I agree, Smiley.

Confirmation of final sign-off will be the best buying signal for a couple of years... whilst the Zim gov't aren't quite what we're used to here in the West, they desperately need jobs.

If "the Group" (sounds rather sinister - are they in the next James Bond film?) have sussed out the right intelligence then we're about to take off.

Chunky buy at 0.12 - it's beginning to move!!