Member Info for steward1

He doesn't have the authority to do any meaningful placing. The rumour is that Glencore will do a prepayment.

Thanks for that helpful and constructive contribution, ponderosal.

Interesting, Acker. I don't think that there's much value in any asset other than Zulu.

Just reading the RNS again, it says that Glencore are interested in 'the possible purchase of spodumene concentrate and repayment and/or management of the prepayment amount plus interest owed in respect of the Zulu Lithium and Tantalum Project ("Zulu")'.

It doesn't say that they are interested in buying Zulu or any of Prem's other assets... is this looking like they may also go for a prepayment/offtake arrangement but with oversight of the plant and operations? So could they provide funds without us needing to dilute.

There's speculation elsewhere that there will be another loi from another party very soon.

It's turning out to be quite a week - Prem news was outstanding and, one of my other maverick holdings, VAST, is on the rise without any news yet... something brewing there. A lot of parallels there with Prem - CEO is distrusted, one of its assets was on its knees, priced to fail, etc. Another phoenix rising!

If GR managed to get anywhere near that then he should be knighted! If he got half of that then I'd get my GR appreciation society mug out again!

I'm hoping that Canmax and Glencore haven't stitched this up to the detriment of holders!!

Fair enough, hasiba, but, if Glencore are going to take Zulu, what price do you think can be achieved? Market cap is currently around £23m.

Iky786 - I think he needs to get the Glencore deal sorted before there is any mention of RHA or anything else for that matter. The hurdle now is to get some funding to sort Zulu - a working plant producing sc6 is way more valuable than one that isn't quite there yet!

What price do you think GR will accept for Zulu and what will Glencore be prepared to pay?

I really hope that he doesn't mention RHA... unless Glencore want that as well!

The market won't respond well to any initiative from GR to resurrect RHA.

Iky786 - see the post from a few minutes ago plus, remember, Canmax don't want to run Zulu but they want someone who they can trust and depend on... that's not GR. There was stalemate and the updated agreement unblocked it. I expect an offer from Glencore... I don't have this verified but they might've been to RHA as well... possibly an offer for all of Prem?? Still loads to play for.

A few thoughts - I suspect that Glencore will want Zulu all to itself and that a JV is not on the cards... although, I reckon that GR wants a JV.

I doubt very much that this is going to take 3 months to finalise. We should see some TR1's- will be interesting to see how much Glencore have been buying! Should get a stockbox from GR with a plan to get Zulu up. Funding - I'll stick my neck out and suggest that Glencore will fund from here or will lend to Prem.

In the recent past, I've heard some figures mentioned around what GR would accept as a reasonable price to sell Zulu - I believe his starting point would be around £200m, believe it or not. Once you adjust for the debt and the prepayment to Canmax, it's around £150m. I'd be very happy with £100m...still a 5 bagger from here!!!

AIMHO DYOR

The doomsters have been utterly wrong about this all along!

Afternoon rally!

Robert-00 - it's been a very interesting week so far!!

Now that the Prem loi is out, I see VAST as having more potential than PREM in the short term but I'm sticking with both!

Of course it says that Ballymena (!!??!!) but Glencore will have sufficient comfort from their DD that 1) the plant can be fixed and 2) there is plenty of sc6 in the ground. They wouldn't have put their name to this LOI unless they had that comfort.

Rather than you and Jaglith wasting your time doing the same ole, same ole of creating doubt and fear - why don't you just accept that a world class miner know what they're doing?

Jaglith - your approach to making money isn't mine. If all you can see is negatives then I pity you. I hope you haven't lost too much.

A fundraise under the oversight of Canmax with input from Glencore would be acceptable and welcome.

Careful, Ballymena!

I'd have the same view as yesterday - shorters, even at these levels, will still be taking the greater risk!

AIMHO DYOR

I'd expect a good bit of volatility today - plenty will sell / top slice at these levels.

No doubt Jaglith, Raaydaar and Martinigirl will be licking their wounds... I don't like to see anyone lose money but their whole approach has been pretty distasteful.

GR will absolutely be stepping back.

Market Cap will head to £100m again!

Been trying to add on HL all the way from 0.04!!! Locked out until above 0.09!

Glencore!!!! Strongly suggests to me that the plant can and will be fixed and that there is plenty of sc6 to go around!!! Couldn't get any better!

0.15 incoming!

5th December RNS could be the clue to the rise in sp. Gulf could be taking a stake in VAST or a full takeover?