Member Info for steward1

I know that Lawson. 17th is in 7 days and the last time I looked there are still 7 days in a week!

this to me is pointing to MA having to put in a decent bid, especially if the current bod are getting closer to some sort of a survival plan... which then dilutes MA's holding. I reckon he'll have to bid before it gets to an EGM to remove the current board (could even be this week)... that move could have been borne out of MA's frustration but I think that it's been a clever move to rock the boat.

Just can't see MA taking this action unless he has sufficient support.

So, he's taking these steps now because he is not happy about how things are going with both the funding discussions and how the place is being run. Timing is everything - he's free to make an offer at the end of this month, isn't he?

Clear out the board, get your people in and get your offer accepted. Remember, MA made a sigificant investment at a much higher price. At that time, he reckoned that it was undervalued so, even with the current challenges, he'll reckon that it's still worth way more than the current sp (or what he paid for his holding?). I think that he'll have a plan (that the current bod have been resisting?) and that we'll see the sp fly, aimho.

I'm holding. I wouldn't bet against MA... sometimes you back the rider no matter the horse that they're riding!!

Hi MTL,

if the email is genuine (and maybe next time you should check the chat rule 5.d before posting), I still wouldn't read too much into it regarding RHA except that it should pale into insignificance compared to the potential of Zulu in particular. That has always been my view - I invested here to see Zulu developed. You can sense his frustration that we're all not thinking about things in the way that he wants us to and, again, it highlights GR's inability to understand shareholder's views.

And here he goes again, jumping on a plane with a bunch of folk to come over to London to persuade us to allow him to spend money that he hasn't got and that is not his.

Chippy, now that I think about it, I did disclose my holding not that long ago (!!??). I've since added and now have circa 70m.... yes, 70m. I'd happily use that to vote GR off but, as you say, there doesn't seem to be a consensus.

MTL's email exchange today (if it's genuine) underlines his inability to even communicate in a way that is straightforward. As an aside, I think that he's now frustrated that he's not getting support for the gold mine,.rather than any new issue or new delay with RHA.

Chippy - I've simply offered an alternative outlook today and I doubt if my approach could be described as being a trader. I'm not going to disclose my position but I've got as much reason to be angry as anyone else. I try to be reasonable with my posts - obviously, I've touched a nerve with Jessel but I'd admit to making a few foolish investing decisions myself (including with PREM). However, if I truly believe that there is no upside, I'd move what money I had left elsewhere

Jessie- no-one is locking you in. Sell, walk away and spend your time doing something more productive. If you or M or anyone else thinks that PREM isn't going to be worth anymore than it is today... particularly when you know exactly how this company is run, you're simply foolish!

OK, M, let's just say that GR has attempted to set a base, and, yes, of course, there is a possibility that the sp could go lower.

Whether it does or not depends on the newsflow. Given what we know, the newsflow could be very positive in a short space of time and my humble opinion is that the chances of a significant upside are way better than the chances of a further significant downside.

I think that I've said previously that those who say that they are still holders but who have a real downer on PREM, (despite recent developments), are hanging around because they do have a secret belief that the sp will eventually bounce back. Either that or they are not really holders. And as for those who think GR is operating PREM as a lifestyle company, what they're really saying is he is operating a massive fraud... those people need to grow some balls and take some legal action against him if that's what they think

As for me, I'm expecting some significant upside. AIMHO.

Phil - good post. I agree with almost all of your sentiments. Where I would take a different route is the strategy for investing and I guess that it depends whether someone is looking at PREM as an investment or a trade - imho, I would invest now. All time low plus a base set through the recent placing. News is in the pipeline - ok, as always, it could be weeks/months. And, depending on which news comes first and how much the sp jumps, I'd be holding or selling. GR's weakness is delivering (anything!) and, if there is news which takes us beyond 0.6 or 0.7 (not impossible) then I'd sell and wait to see what happens with GR executing his plan. I would repeat something that I've said many times - Prem would have a completely different valuation in different hands. If one of the next couple of updates includes GR standing aside, I'll be (retiring n my profits and) holding for the long term!

Happy to make you smile more, Smilemore!

Did you see what I did there?

Come on guys - own up... who got my post, giving Smiley advice on his credibility and frequency of posting, deleted?

Or maybe I didn't post it? Or was it a bad dream? Is it any coincidence that Alan Partridge appears on TV again round about the same time that Smiley turns up?

If I was pushed to say, I reckon that Smiley is Xulu… do you remember him? But where's Crazy when you need him?I would probably pay money to have Crazycacti and Smiley go at each other all day!

Smiley,

like so many here, I've been invested in PREM for a number of years. Whilst I'm optimistic that Zulu, Circum and RHA will come good this year (not tomorrow or next week), I (and I'm sure most lth's) have zero confidence that GR can pick up a gold mine (or any other mine) and turn it into a profitable enterprise this year (or next year or the year after).

He has no track record of doing so and, quite the opposite, he has a track record of being distracted, procrastinating, changing his mind, not giving the whole picture, timing his decisions at the worst possible moments, not spending money effectively (or for the purposes it was meant for), etc, etc, etc.

I appreciate your enthusiasm but I don't think that you quite know who you have invested in!

Thanks for the sums, ted. If the market believed that hb was worth even a fraction of what you've suggested then why are we languishing at below 0.1. And how come we're able to get our hands on it for that price?

If GR and others are so keen on it, perhaps they should set up an independent company (independent of PREM) to buy it.

Then you'll see whether the market is willing to stump up finance for it.

Smiley,

these are very simple principles, don't spend money that you don't have and, especially, don't spend money that's not yours!

HB will need cash - we don't have it to give it to them.

GR's track record SCREAMS that he shouldn't be doing this. It's madness/delusional given our current predicament. No matter what way the deal is structured, GR should not be risking shareholders money doing this.

Smiley,

whilst I was having a bit of a whinge yesterday at GR (and he still needs to go... and we still shouldn't be interested in Honey Badger!), the risk/reward here looks pretty attractive. There's a lot of good news in the pipeline now.

The average price for the two placings is a smidgeon under 0.1. I think that we can safely say that KME are not likely to be quickly selling their stash of shares and, if they've got any sense, they'll be funding their operations without having to sell immediately.

My immediate concern is how the second, bigger placing at 0.09 is going to be handled. Potentially these could slow the expected increase in sp if buyers want to sell sooner rather than later but I'm hoping that they can also see the good news in the pipeline.

Personally, I think that the RHA deal will take a while longer to sort out - I'm praying that GR holds back on Honey Badger until we see significant good news and the sp recovering to 0.3.

Almost Churchillian, Smiley. You are entertaining!!

Careful, Smiley… if only you could see who sits behind this keyboard!!!!

Are you familiar with Strongman and Xulu? Neither appear here now after ramping and ramping, only to then find that the news they were expecting was almost the opposite to what they had ramped! Xulu seemed to take it real bad.

Sorry Smilemore - everyone gets suspicious when someone wants to dominate a board (whether from a positive or negative view).

Could you be Strongman or Xulu in a different guise?

I think you're XULU and that, after a long period of counselling and rehabilitation, you've changed your narrative/persona!

"Face behind the screen" - this is getting weird!

The Joker in Batman had a big smile but he wasn't all that he claimed to be!