Member Info for steward1

Yep and prior to that, you said that you only dealt in fact... I'm confised now. What was fact and what was opinion?

You've been way more specific than GR was in his webinar. He didn't mention any meeting with the jv partner on Monday!

Your putting forward sensitive info, if it's true, that could only come from a company source. That info can't be verified by everyone on here. If GR has made that (or any other) info available to you or a select few then that's pretty shady! Once he's told one person, he needs to tell everyone.

Problem is, Strongman, that LSE rules say you can't post info that has come from Company sources unless it is publicly available. I must have missed the memo from GR stating that he was meeting with the jv partner on Monday??? Pretty important info, don't you think, to be throwing around casually?

Sorry Strongman - is it your opinion that GR is meeting the JV partner on Monday or do you know that as a fact?

If the latter, where did that info come from and can you verify it?

Hi tedoby - he said he was going to Harare but I don't think that he said that he was actually meeting with ministers. I might be wrong!

I agree that the ownership issue needs to be resolved before any jv will take place. Just can't see anyone wanting to partner with GR on RHA. His RNS has created huge uncertainty.

That seems to be quite a detailed explanation, tedoby. Where did that info come from and can you verify it?

Is GR actually meeting with key Ministers (plural)? If so, he didn't seem able to say that on the webinar.

"Negotiations" - can't understand what there is to negotiate now. This is one of GR's problems. He has (excuse the expression) fannied about for months (getting on close to a year) with RHA when he could have resolved it months ago!

The same argument comes up time after time - it isn't a good time for GR to step down. Just doesn't stack up - what evidence is there that GR can successfully negotiate anything? He needs to go before any other damage is done.

Maybe a slight exaggeration on my part, CF73, to say that the ownership is a red herring but, if it is resolved, I don't see it moving the sp.

There are bigger problems afoot!

Happy to oblige!

I've got a book of "Statements of the obvious" - just give me a shout when you need any more!

Dart - I've convinced myself in the past on that basis! It hasn't worked out with PREM and may never do with GR at the helm.

Strongman - the ownership is a red herring. 49% ownership of 0 is 0. 90% of 0 is 0.

I've been reading and re-reading the RNS's to see if there is anything positive in there. Just can't see anything with RHA which is looking encouraging.

First major warning sign in the RNS's is that GR chooses to highlight the potential for copper. A cynical and calculated distraction!

Second major warning sign is this statement - "Whilst drilling in the open pit has not been completed, the results obtained so far from the western end of the pit do not support a continuation of mining with the current plant configuration."

Third major warning - the economics of starting RHA up again don't look convincing and GR has no track record of delivering!

I can't see anyone in their right mind willing to have a jv for RHA in the current scenario. And GR has no money to re-start or further develop RHA.

The drilling work is due to end later this month and I suspect that all will fall silent at RHA again after that.

A placement has to be on its way if GR is to do anything with RHA. And if he doesn't/can't do anything with RHA, he has to step down!

AIMHO

Seriously??? You must have money to burn!

Charlie1984 - I'm not sure what another webinar will achieve.

GR needs some concrete, positive news and that is simply not going to happen in the short term.

Here we are 9 months down the line after closure with little idea of what RHA is really worth. GR isn't able to tell us what is in the ground, where it is and how it will be extracted. He has taken his salary and sat on his hands.

The whole ownership thing is a complete red herring! Anyone with any competence would have found a way to keep RHA producing whilst the ownership was being sorted out.

I don't think that there is any explanation that GR can give which would be acceptable for the state that PREM is in. The only thing that he can say which would be positive is "I resign!".

Taking a little step back out of the emotion of yesterday, one big issue that has become apparent for me out of yesterday is that any JV partner will not know what RHA is worth. The re-starting position has been established but there is a huge question mark over what is in the ground and how it might be extracted.

As a consequence, I think that GR will find it difficult to get a JV partner at this stage for RHA anytime soon. Whilst he might protest that there's negotiations on the go, he will be negotiating from a very weak position.

Something radical needs to happen and it needs to happen soon!

Lots of questions that he basically ignored and, yes, he couldn't get it over quick enough.

It's really difficult to take any positives out of where PREM is at right now. And he simply doesn't realise the strength of feeling - from his answer, I don't think that he cares that he has spent £300K on travel.

He's just not the right person to be running a company!

Disappointing update!

There doesn't appear any compelling reason to invest in RHA yet so I'd be really surprised if anyone is champing at the bit to hand over any dosh to GR. Still lots of unanswered questions and what does GR do in these circumstances... he dangles the prospect of copper in front of everyone!!!

Poor show from GR.... yet again!

Spoke too soon!

Happy to see this intraday fluctuation - overall trend will be upwards. AIMHO!

Yep, can see this being on the up for a few weeks, actually. And when ratification comes, there should be a pop!

Thought that I'd have a wee look in after today's "results".

Chippy - you should go on! This whole situation is screaming out "GET RID OF THE CEO".

It's well over a year since I invested and GR has managed to take PREM backwards (and paid himself handsomely for the privilege of us having him as CEO).

As for a one JV for both Zulu/RHA, the crunch will come when the potential JV partner asks GR to step aside and he just won't. That's why every deal has failed. GR still wants to run things and he simply cannot wake up to the fact that he would be financially better off if he stepped away completely!

I don't have any investment in PREM now and I will only re-engage when GR steps aside.

the big deal is still to be announced as well!