Member Info for steward1

I agree jedclampit.

MA isn't finished here yet and I reckon that there'll be more action next week from him.

Hey Chesh - I've avoided this board with Ross still banging on about the same old stuff. I don't mean the guy any ill - I hope that he's finally bought in!!

Find myself with some time to have a gander and the sp seems to have jumped. What's the news? Or is it just anticipation that the q1 figures are going to look good?

I agree Moljen - when the cash actually hits the bank, there will be a major sigh of relief but also, I hope, a chink of light... a possibility that PREM will get on a track to delivering some value? Along with many others, I've been sceptical about whether the Zim gov't would actually do any deal with GR given his poor performance. I'm wondering how much the addition of the KME team and the prospect of HBR and extending Zulu have influenced Zim to give PREM a boost. Things are looking much more promising now but still some way to go.

I agree, mike. Yes, news could drop any minute on a number of developments.

I have to keep reminding myself that the cash in the bank depends on the Zim gov't and they're not the quickest operation on the planet - my own thinking is that it might be a wee while before the cash hits the bank. After the recent weather, they will have other things to think about BUT they do desperately need jobs - people working and paying taxes(?) - and they need companies like PREM making progress. I wouldn't be surprised if there are some connected with the Zim gov't taking positions on PREM and I'm always interested to see some decent sized purchases.

I've lost track of whether the overhang is cleared or not but, if it hasn't been, it must be pretty close. My own personal view is that the blocks will come off v. soon and we'll see some momentum building upwards quite apart from any concrete news.

Very interesting - has anyone heard anything?

Could be someone building a position in expectation of imminent news (I use the word imminent with some caution and a large degree of interpretation!!!) or has something leaked?

I should have added -

Confirmation of new bod and CEO!

I should have added -

Confirmation of new bod and CEO!

Interesting... news is expected/hoped for on a number of fronts -

Money in the bank from Zim gov't
Extended Zulu
Circum event

???

Someone has some confidence in PREM - a couple of big buys just gone through.

Does anyone know if Oddo are acting on behalf of JD Sports or are they building their own stake? They've gathered in 4.49% since Monday.

If the latter, is there going to be a rival bid? Perhaps, from the continent?

Chippy - we've all got every right to be angry and I've made known my feelings about GR's incompetence. However, I just don't get it when some of you are implying that this is one massive fraud, e.g. there is no letter!!! I agree that the funds might not be in Prem's account tomorrow but to imply something so extreme causes me to question your motives.

I meant that JD will have wanted to do the deal before a Brexit bounce.

I thought that they would have held out for over £1. The fact that JD want to take them out shows that they're having some success and they'll have wanted to do the deal before we get a Brexit bounce(??!!!??).

Good deal for JD - takes out one of their competitors and gives them more economies of scale.

Could someone else bid? I can't see Mike Ashley bidding.

CF/Smiley,

my sentiments too. Hate to repeat something that has been said many times before but, unfortunately and despite his best efforts, GR is a drag on the sp. If he can bring in a CEO or appoint one of the KME guys and the step in to the Chairman role (or just be a board member), the market might have a better outlook.

Nevertheless, things are starting to look good... very good!!!

Tedoby - thanks very much for the very informative post.

I have some major issues with HBR. The first is the dilution - as you've said, there are probably other ways of doing the deal and GR needs to seriously consider them.

The second is PREM's (or GR's) ability to do the job. GR has not shown any competence or wherewithal to take a resource in the ground to then making money. In fact, quite the opposite is true - the resource has stayed in the ground and we've all lost money! UNLESS THERE IS A CHANGE AT THE TOP, there is a major risk that we end up again with an RHA or ZULU debacle. Not only that, the potential for a new project to starve existing projects from attention and resource is very high in my book.

GR has to realise that he's not the guy to make the most of these opportunities and that he just doesn't have the resources that a major has.

I would be much more comfortable if
a) we got confirmation of the new bod and new CEO
b) the sp was sitting above 0.3
before we went near HBR. Both of these are possible in the near future - the first, of course, is within GR's gift so he should just get on with appointing a new CEO.

IQ - KME is a no-brainer for me.

HBR - I would only agree to this at a much higher sp (over 0.3). To get there, the $6m cash would need to be in the bank, we would need confirmation of a bigger Zulu and, possibly, we would need at least a date for the Circum event.

Smiley has some ideas about a different kind of deal - perhaps, they have merit but I don't see GR doing anything other than asking shareholders to fund it.

One of the difficulties is that there is not enough information and that there is still uncertainty about the management of PREM going forward. If we could get GR to finally and officially step aside into a more consultative role, I'd be much more comfortable about taking over HBR with a delivery-focused team.

I agree Smiley - looks like the Zim gov't aren't coughing up the money but someone else is!

It will be very interesting to get more detail. The big question is what will this 3rd party be getting in return. What I would take from it though is that both the Zim gov't and the 3rd party are confident that RHA will deliver significant returns... hence why the Zim gov't were not going to hand over their share to GR.

I wonder if the Zim gov't are going to sell their share (or part thereof) of RHA - what value would that then place on RHA?

Interesting times... let's get that hangover cleared and the cash in the bank and we'll see some momentum.Some other good news on Zulu or Circum will see this fly.

I agree IQ.

Have to admit that I was never 100% sure that the Zim gov't would agree to stump up the cash but they've found a way of doing it. From previous posts, my understanding is that the agreements are with the Zim gov't so I'm expecting confirmation of the signed agreement very soon.

A very significant step forward for PREM!

Smartie,

the answer to why some think MA will make a bid is that, if he wants control of DEB (and he does), he needs to get a majority shareholding. I believe that MA has a masterplan to challenge the likes of M&S and NEXT and I'd say that he needs DEB to give him scale and reach. Yes, combine it with HoF but to get there, he needs to buy DEB.

He's frustrated with the current BOD and his move last week (just think about the timing) indicates that he is serious about wrestling control away from the BOD. I reckon that a bid is way more likely than any other scenario

He also has an investment to protect - he can only stop the D4E if he has control