Member Info for steward1

Willec - you could be right. Perhaps a spike to 0.15. I can see you think that this afternoon's rise is a sign of something imminent... I'd expect the volume to be significantly higher than it is if the LOI is imminent and that there would be trades in the high tens of millions. Doesn't feel like it's there yet but you never know.

Legalease - spot on and the market cap is still only £6.5m. AP's plan seems finally to be working. As many people have said many times before, it would be good if AP could do some sort of update.

HawaiifiveO - I agree that news is overdue but I think the rise in sp is partly due to the plan now working. With BP, whatever milestones they have had with the court, they have hit so one has to assume that production is getting back on track and that the carry forward from last year is being sold... cash will be coming in. And the other projects should be generating cash now too.

I think AP is turning this around but some news would be helpful whether it is finances, another new project or.... drum roll.... the diamonds!

That's not how I read the RNS.

RNS says LOI within 30 days (1st May) and buyer/partner confirmed by 1st June.

YTD sp performance is pretty impressive with a load more to come!

RickyK - could well be but I reckon GR got his month to produce a LOI because he wouldn't have been comfortable about the cosy relationship and wanted to try for more independent funding.

Just to respond to other comments over the weekend - I acknowledge that we're at a disadvantage because GR failed to properly assess/estimate how lithium was in the ground across a wide area. From memory, he was only concerned with a small area.

My understanding, Wolf, is that GR has effectively been side-lined for a number of months. The deal is one that has been constructed by Canmax and GR finally accepted that this would be a route to everyone being happy. It prevented both GR and Canmax taking unwanted action which would have left stalemate for who knows how long.

Canmax want another party involved - one that they can trust and who are competent in getting sc6 delivered. The construct of this arrangement enables that. GR's red line was that he would not accept a specific JV partner being forced on him.

Given where we were at, and I keep saying this, Canmax have done all shareholders a huge favour.

My expectations of the sp from a few years ago have been well pared back but I still see this as a significant multi-bagger in the next few weeks and a serious mult-bagger when that first sc6 is bagged! We won't reach 1p again anytime soon but 0.1p is achievable on the LOI, 0.3p is achievable when the plant starts running and 0.5p when the first sc6 is produced.

DYOR!!

Santiagot - my last response to you... I'm not going to spell out the situation to a lazy troll who can't be bothered to read an RNS.

Santiagot - you wouldn't have had to ask the question if you had read the RNS.

Santiagot - have you read the RNS?

Raaydaar - no-one is investing in GR now... he has been well and truly side-lined. No doubt this is still risky but I fully expect any JV arrangement to further minimise his influence... I think we would be in agreement that a JV partner will want to be the senior partner. Canmax are protecting their own 16% holding here and have done us all a favour by setting up this current agreement... they have absolutely had enough of GR and don't want to deal with him for years to come.

Potential investors will first of all be considering what the potential of the site is and what profit can be made for years to come (and, of course, there is an expectation that sc6 prices will recover even with Trump in office)... the current debt is secondary and pales into insignificance compared to potential profit.

It all boils down to whether you believe GR or not when he says that the plant is only a few hundred thousand pounds and 3 months away from production.

I expect any potential partner to have the savvy to get the plant up and running, and producing very quickly... very attractive to a potential JV partner compared to the time and cost it would take on a virgin site... very attractive indeed.

Albemarle!

Thought that he had some campaign going to get rid of GR... I assume that he didn't get anywhere.

Advice should only be given when it's asked for!

Penderosal, so you're dismissing and criticising speculation on a discussion board which is fundamentally all about speculation and you're taking the time to post about your view... and you see this as a positive and valuable use of your time... each to their own I suppose!

How's about contributing something constructive, ponderosal?

Jaglith - I don't think that GR and Canmax could get to some common ground, simple as that... especially when GR didn't want to let go of the purse strings. Look at the last interview and you can see that GR is like a huffy child. Investors didn't want to give GR free reign with their cash so this arrangement overcomes that hurdle and also gives the investor time to get production up and running. Canmax also wanted assurances that they had no confidence in GR seeing through.

I had heard that GR's position changed later last year - as he says, he's not getting any younger. 1st April brought things to a head.

I can't quite fathom why Canmax have been so generous and gracious unless they know that the plant can be fixed and sc6 can be produced. It is very clear to me that they don't want to walk away, they want assurances to get their initial investment back in some way, they want GR side-lined and they want Zulu sc6 for years to come. They don't want the day to day hassle of sitting on GR's shoulders so this arrangement allows them to step back and all of the above will be delivered.

I do think that Canmax lined up some potential financiers and/or JV partners so I think there is a deal to be done that we can all benefit from (apart from shorters, of course).

NB DYOR AIMHO

Martinigirl asks 'What company doing their due diligence would invest in PREM'... change the question and ask 'who wants one of the largest hard rock lithium deposits in the world with an almost complete plant'. You'll get closer to the the answer that way.

If Zulu was a new discovery, how much would a company spend to get a working plant up and running?

The business case to take on this asset is pretty straightforward IMHO. The debt to Canmax can be easily sorted with something similar to the original deal if they're going to get their sc6 and the other $20m is small fry compared to the long term profit to be made here.

Shorters are scaremongering.

LOI is incoming.

Mainstay - simply highlighting that the crux of the issue here is whether GR is telling the truth or not. I'm looking forward to your next constructive contribution which includes more than a slur on someone else.

First time I've been called a gentleman!!! I'll take it.

I was trying to teach my very impressionable grandkids (8 & 10) about telling lies and used the Boy Who Cried Wolf... just because he lied to begin with people stopped believing anything he said and missed it when he was telling the truth just when it was really important to tell the truth... could apply that experience here! After the Circum debacle and a few other misdemeanours, no-one believed GR when he said he had 11 or 12 interested parties and then up popped Canmax. Feels very much the same this time round - no-one trusts GR but he doesn't always tell lies. A bold statement but I reckon a few of us can spot when he's lying and when he's not now. Folk like Jaglith are going to cast doubt on anything that he does/says or is rumoured to do/say and, I'd suggest, are the most dangerous people on this board.

Canmax have wised up seriously about GR - they're doing us a huge favour. I think he's been telling the truth recently and I think we'll get a LOI sooner rather than later!

As for the grandchildren - the response was 'Grandad, you're boring!'

Acker,

I'm actually disappointed that you haven't been sharing your views/analysis as much as you used to. I think that there's only a handful of us now posting who have had years of experience with Prem and GR.

Some of these newbies just can't read what's going on.