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I agree CF - GR has lined things up well. Looking forward to a positive week next week.

Yes thanks knicol. Really disappointed that I had to miss the webinar. So... next week is a big week for news. Excellent! Did GR have anything helpful to say about the gold mine?

Well, you've got to hand it to old George! A charmer and he did like being called the epitome of positivity, didn't he?

Given where we are, I'm going to be positive with GR on a couple of fronts...

1. I reckon that cash from Zim gov't will come. Good that there is a meeting next week with MoM… so GR, we will be expecting an update next week!!

2. Zulu can progress. This is the best news.

3. Circum - sounds like they've heard more about what's going on there and there is some evidence of progress.

4. Like GR, we all know that the upside could be huge... risk / reward!

On the negative side - I'd vote against the Gold Mine acquisition. Just can't see how that does us shareholders any favours given previous experience. And there is GR himself!!!!

The consipracy theorist in me, though, suggests that the Zim gov't are desperate to see progress on a whole load of fronts... they need jobs, they need tax revenue, they need investment. GR is clearly showing the ZIM gov't that he wants to invest in Zim with the gold mine (perhaps, they nudged him towards it!) and, perhaps, this could influence them in the cash that they're prepared to give for RHA plus granting Prem the Zulu extension.

What a dilemma!

I'm inclined to think that we will see at least one piece of significant, positive news before the AGM. Perhaps, as early as next week!

Hold on to your hats!

Putting Circum, RHA and the silly gold mine acquisition aside, the sp will really motor if we see Zulu making real progress.

Positive update, NaPom!

Just popped my head in again and really pleased that it coincided with your post in4cedros. Brilliant reiteration of LK's approach!

Just checked in to see how things finished today. Optimistically he says "We've had much worse days!" Less than 90m shares traded. SP didn't quite get down to recent lows.

Are the majority of holders thinking that GR has got a better deal this time round vis a vis KME?

Absolutely Johnost2003.

If he is going to raise cash, he should be raising cash for Zulu and not anything else!

Who knows what goes on his head, Johnost2003??? I agree... GR just can't seem to get anything strategic or important right!

I suspect that, whilst he's going to get financial support for RHA, he's not getting the 90% ownership that he was looking for and the arrangement with KME has had to be reviewed, sparking the RNS. For what it's worth, I think that the financial support is of more value in the short term.

He also might have been forced into making a call on the gold mine - perhaps, there were others interested?

I'm not defending him. I'm simply trying to understand why he does what he does!

Hi CF,

as I said, GR is either a madman or a genius. I tend to think that he is easily distracted, has no focus and simply cannot deliver - a gold mine????? He's a magpie - he's attracted to shiny things!

And what on earth are the board thinking? PREM are not sitting with a pile of cash in the bank that they need to spend. How can the board continue to pander to GR? They really need to get a grip!

It really is time for GR to head off into the sunset and have a good retirement.

Let's hope that the KME guys will make some good progress.

Crocker - I think you're on to something.

I only saw the 1st RNS before leaving for work and now that I've seen the 2nd one, my initial thoughts are that GR is bonkers thinking that he's going to get holders to agree to agree to an acquisition of a shiny new toy (gold mine).

He has to be completely bonkers or else he's expecting some bigger news with some certainty. This comment is key I think...

"The potential of the acquisitions, retention of full ownership of Zulu, approaching settlement of RHA and advances in Circum Minerals should be carefully considered."

The KME part of the deal looks better than before and, if there is one thing that GR should've prioritised above all else, it was getting Zulu progressed and this deal does that. In some ways, I'm glad that he's bitten the bullet with a new share issue but he could have done this years ago!! He really has to set a strategy and keep to it, though!

And rather clever to put a bottom on the price.

I'm assuming that he will already have enough support to get the deal through - he wouldn't announce it unless he did.

It all seems bonkers though, absolute bonkers - GR is either a mining madman or a geological genius! Haven't seen the genius deliver though.

Well... it would take someone pretty stupid to now throw doubt on the Zim govt providing financial support fr RHA. Looks like GR has been pretty comprehensive in what he needs too.

Very reassuring update!

Remember,,, RHA being re-started brings Zulu closer!!!

The one good thing that has come out of my time being involved with PREM is that I've learnt patience (or is it that I don't really care anymore)!! I don't have a timescale for Circum but I reckon it will definitely happen!!

The fascinating thing here is that there are quite a few here who say that they have no interest in Prem (except to troll it). Why would anyone spend their time commenting on a basket case like PREM if they really think that it will ultimately fail! The truth is that they think (but perhaps won't admit it) that PREM will come good at some stage. Circum is looking more promising and I'd suggest that GR's silence on RHA, Zulu, etc. is because that there are things afoot.

In my youth, I was part of a fairly successful football team who always believed that they could win - even if they were 2 or 3 down at half time... and we usually did win. The final whistle hasn't gone with PREM yet and even the trollers think that GR is going to win this one... that's why they're hanging around, waiting for him to score the next goal... the risk that they're running is that the next goal will knock them out.

Perhaps the situation has never been as bad as has been made out!

My reading is that things have already stabilised and that there's no mad rush to sort out the re-financing now. They've got a whole load of breathing space to re-finance and to sort out rents with their landlords.

This puts Sergio in a much better place to steer through this recovery. Very pleased with this update.

Nice surprise, random, isn't it?

I'd reckon that Zim is a leaky place and I'd actually be more surprised if there wasn't a leak!

I've been much more relaxed about my Prem investment after the news a few weeks ago that the gov't could put some cash in. If all the ducks get lined up (and it's still a big if) then the sp will rocket again!

I'm fairly confident that news is coming and I'm not at all surprised to see the sp jump ahead of that news. Look at things from the Zim gov'ts perspective - they desperately need jobs, they need to see progress especially in the mining sector and they need to convince international investors that it's worth investing in Zim. A few million to see RHA re-opened and to progress Zulu would be money well spent... especially if they see their share of the NewCo multiply... could be zero cost to them... it's a no brainer!

Good find again knicol. Shows that there is money being invested in Zimbabwe and in our sector at a time when there is huge unrest!

That rabbit out of GR's hat doesn't look so far-fetched now, does it?

Not sure why you're here, Juste, if you sold out over a year ago. There are plenty of us holders who can do just as good a job as you in running down Prem!

Are you waiting to buy back in?

Shorting is just a process of selling and hoping to buy in cheaper later.

Thanks for that Moljen. I agree that the situation is absolutely and utterly dire.

"Return of sums loaned" suggests that a loan has been made and that there is a debt... even if, as you say, it is only to be repaid in certain circumstances? GR seemed to be of the mind that the arrangement gave him some leverage to claim all of RHA if the ZIM gov't didn't want to play ball in terms of ownership. I wouldn't dismiss it as a non-asset.

The Zim gov't have announced financial support for other sectors, if I remember rightly, so I think that this is a likely outcome for PREM. But, even with that, there is still a long way to go... certainly accept that. The Zim gov't may want to retain their current ownership, as well... I wouldn't be surprised.

Grasping at straws, I know, but I liked the NewCo arrangement. Remove GR and get real miners to run the show!

I'm very surprised that we've not been given any update yet one way or the other, but that seems to be GR's way!

Moljen - what value would you put on PREM? Genuinely interested.

With regards to RHA, would you not consider the debt ($20+ mill) to be an asset?