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I should also have said that, at some stage, he agreed to get formal approval from shareholders to take the number of shares in issue above a certain level. I simply don't have the time or inclination to search through to find what that level was but I reckon he has gone over it now.

I'd happily put my holding of circa 60m shares behind a motion to call an EGM to put a halt to any more action on Honey Badger!

We simply shouldn't touch the gold mine, Smilemore. GR has more than enough on his plate! He would do more good rolling up his sleeves, picking up a shovel and heading over to RHA!!!

He doesn't have the money and is treating holders with complete and utter contempt!

Ted - I agree that PREM needs cash but the problem with GR is how he goes about things. Given the assets, one might have expected that the sp would be soaring but the one and only reason that we're sitting this low is GR. His decisions and the timing of his decisions could be construed as being designed to keep the sp down. The impact of any dilution is solely down to GR. Major changes of strategy on a whim, looking to spend money that he doesn't have on assets that we don't need, placings at a premium one day and placings at a loss the very next day, etc. etc.. I don't know who is taking this latest batch of shares at 0.09 but the way he goes about things causes us to question both his competence (there's probably no doubt that he is not competent in running Prem) and integrity! He may well be doing the best that he can but, at this stage, he simply should not be chasing after a gold mine. Zulu, RHA, Circum, ARCM is a diverse enough portfolio in my book.

CF - I don't think that you're reading today's RNS. Th placing is at 0.09!

Can't defend this especially when he's going to spend money on Honey Badger... which he doesn't have approval for yet!!!

Was there not a cap on how many shares he could issue before having to get approval from all shareholders?

No need to sell though - Zulu DFS already started and cash for RHA on its way.

Today's dilution has clearly upset some people. GR has made loads of mistakes along the way but the real important point is that he is making Zulu happen again. There had to be some form of currency from somewhere to allow this to happen and, given where PREM is, I'm happy with the placing.

I'm no fan of GR but those who appear a wee bit more upset than usual today (and who say that they are still holders) don't seem to have an answer as to how GR should be getting it all moving again.

In the circumstances, it's an appropriate move!

Chippy - I've got some sympathy with your view and, to a great extent, I've discounted GR's impact. He's not in control of whether the Zim gov't inject $6m into RHA. He's not in control of Zulu drilling and he doesn't have any influence on Circum.

The gold mine is a nonsense unless the sp rises significantly before the deal needs to be made, i.e. to around 0.3 (this isn't that impossible!)..

Smilemore is right - at this point in time, it is all about sentiment. I see it changing already and I see it massively changing when the RHA deal is signed.

With the possibility that we get $6m and RHA starts up again, with significant progress on the Zulu DFS and the Circum liquidity event - if all this happens this year, the sp will rocket and, imho, buying at this price is a no-brainer... whatever you think of George!

I'm just wondering what it will take to get you on side, chippy? I've long accepted that GR is never going to win CEO of the year but I am cheering on his efforts to make some headway now.

Yes, I'm glad that GR got the Podcast done so quick after the RNS.

Whilst there's still a long way to go, we should all be in no doubt now that the Zim gov't will be funding RHA - by how much is the question! If it's at all possible, GR should be getting the KME boys back at RHA and Zulu right away. Let's see some urgency.

The quicker he makes progress, the higher the sp will go and the more likely he will get backing for the gold mine (still not convinced that he's in a position to spend money he doesn't have but I'd be OK if the sp is closer to 0.3!).

I think MA would want FOOT but he's not moved quick enough.

JD/Pentland have made a pretty good move. Still can't believe that they're able to sweep up shares today at less than 50p. Whoever is working for them is doing a pretty good job in keeping the sp down. The cheaper they get their 29.9%, the more that they'll have to offer to the family!

imho, this is clearly shaping up for a takeover.
1st RNS is from JD Sports and, quite rightly, the last RNS also mentions Pentland Group. Some shenanigans going on over the last couple of days to allow JD to sweep up shares on the cheap. (I think Pentland need to state their intentions!). I think JD will take it to 29.9% but I believe that Pentland will make the approach to take the rest of the company.
AIMHO but JD/Pentland clearly see that FOOT is taking valuable business from them and will continue to do so at an increasing pace. It might not be tomorrow or the next day but JD and FOOT will become one entity at some stage soon. And at a price significantly higher than 75p!

I don't usually announce every trade but I've added another 7m+ shares to my holding. When the detail is confirmed, I expect the sp to jump and, if that is coupled with other good news on the extension of the Zulu licence then we'll see a further jump. In my mind, I'm expecting a $6m support package from the Zim gov't but I expect them to keep their holding of RHA. If the package is greater (and it could be) and/or the Zim gov't reduce their ownership of RHA then we're off to the races.

Who knows when the Circum event will happen but that is something else to look forward to. If the gold mine gets approval then I'm confident that the price in terms of dilution will be significantly less than first thought.

BUT, for me, the biggie is Zulu - if the KME guys can make speedy progress then I couldn't hazard a guess at what the sp will be in the 2nd half of the year.

I'm really hoping that this comes together for us and for GR... and wish him a very happy retirement.

AIMHO!

At the very least, I would wait until news drops about the extended Zulu exploration licence before even contemplating selling (could be due this week too!).

However, if this is the beginning of a significant turnaround then the sp could multi-bag several times! AIMHO

Well done, George!

Yes CF, I wasn't expecting an RNS until later in the week.

If things have been positive on both the Zim gov't and the Zulu exploration licence then I suspect that GR will still need a bit of time. I would hope though that, if he can't issue an official RNS this week, that he will get some sort of update out.

Any takeover price will be dependent on the value that the current big holders place on their shares and not on what traders are looking for... and it will be a lot higher than 55p, 70p or 75p!

I'm holding out for over £1!

Spot on, Flightman!

I'd be very happy with money in stages!

Much appreciated Lockedin.

I'm hoping for a change in sentiment this week. The fundamental issue with GR is that nothing he has touched has ever come to fruition. If we see something concrete around funding for RHA from the Zim gov't then that would be the best news that PREM has had since I first invested almost 2 years ago. The Zulu EPO would be fantastic news as well.

By the law of averages, GR is due something going his way. I'm sure that we would all be much more relaxed if we saw the sp re-rate before the gold mine acquisition - I think GR will need that to get approval for the purchase.

I added more this morning - I reckon that we're going to see that significant news this week! AIMHO!!

Feeling the same way, Snowking. Sentiment should surely change this week as news gets confirmed.

I'm not entirely convinced with the gold mine BUT it looks like GR is betting on the sp increasing before the deal needs to get done.