Member Info for steward1

Canmax picked up the phone to them, Jaglith.

Jaglith - Canmax oversight is a gift to shareholders!

Come on, Jaglith - your credibility goes through the floor with comments like that.

Just 0.25 per share... that's getting close to a 10 bagger!!!

And you haven't allowed for the value of the mining/mineral rights... which wasn't included in the $100m.

The $100m valuation also only reflected the investment that both Prem and Canmax had made in the plant.

If the plant produces sc6 then the value is likely to be closer to the peak of the market cap in recent years... several hundred million.

CppCoder - I don't agree with Jaglith's projections... simple as that.

Do you think that everybody and their dog are chasing Lithium because it's expected to be this cheap in the future??

Wolf - I guess that Canmax will have their preferences but there are quite a few factors to take into account. They may well be more comfortable with the likes of Ganfeng but there's a load of companies and countries who are on the hunt for access to Lithium. I'm aware that the EU have this Team Europe approach and they're on the hunt for lithium and have funds to back them up. I got the impression that GR was speaking to European financiers though... might be wrong but that would be interesting!

Should be a competitive process though which I think will be good for us holders.

CppCoder - not sure how you conclude that! Jaglith expected Prem to be cut loose by Canmax by now! Share price has gone from 0.01 to 0.03 in a couple of weeks... and all the time he was calling that Prem wouldn't survive!

With these dips, I tried to add online - couldn't get a buy for more than £3K. I wouldn't be at all surprised if someone is hoovering up every sell. I think we'll get these ups and downs until the next piece of news/rumour. GR speaking to interested parties yesterday, today and tomorrow. I fully expect something to be leaked by the end of play tomorrow.

AlertRNS/Hasiba - good posts... that's where I'm at.

The one concern that I'd throw in is that GR confirmed that any interested party can negotiate direct with Canmax with regards to their Prepayment repayment and that they are all known by Canmax... sounded a bit too cosy for my liking and GR seemed to be resigned to not being involved. I hope that we get a vote on whatever deal is accepted by Canmax.

Regarding GR specifically, I think that he will still be motivated to get a decent deal overall.

Interviews are recorded then checked and edited if need be... sp is already rising... remember Prem is a leaky ship!

Meant to add that I doubt that Canmax can force a buyer on to Prem.

Hi Wolf - I read it a wee bit different. Canmax have oversight of finances for operations. GR can still raise funds but I think he will then be constrained to spending it in the way that Canmax expects... not a bad thing at all in my book! For example, if GR wants funds to prove that Zulu works, he can raise those funds without approval from Canmax but once they're in the bank account, they're subject to Canmax oversight.

So, if he fails to secure a buyer or a JV, he still has until the end of the year to deliver the sc6 to Canmax by securing his own funding to get Zulu producing.

So you don't have an open short just now??

Careful now, GR may well have one of those interested parties willing to fund everything!

RickyK - spot on. I think that it'll be a JV.

I've said many times that it is in the best interests of everyone that Zulu and Prem succeed. Clearly, Canmax are not the kind of vulture outfit that some on here have hoped... there are honourable and good people in this world!

The more I read the RNS, the more it says that Canmax are simply ensuring that their interests are protected. Their stance should also benefit us other shareholders. They're keeping a tight rein on GR, covering all bases and are clearly protecting them from GR selling Zulu on the cheap to one of his mates.

I expect GR to confirm that they'll get the plant up and running and that he'll have funding to do this. I sincerely hope that it's a JV this time rather than GR going alone again. Either way what value would you put on an operational plant and the mineral rights... several hundred million plus the rest, I'd suggest. Any interested party will know this and that's why he's got interest from a number of parties.

I also expect GR to confirm that Canmax are not walking away and that the offtake part of the agreement is still in place.

NB The addendum allows the possibility of the 30 days to be extended at Canmax discretion.

I'm way more optimistic today than yesterday that I've got a multi-bagger here.

I've also said before that shorters were taking the bigger risk... even more so now!

Didn't expect to wake up this morning with Prem still owning 100% of Zulu, with no shares in Prem being issued to Canmax, with the opportunity to get Zulu producing and with serious interest by others for a JV or to buy Zulu.

***### Canmax are not walking away... the offtake part of the agreement stays in place... they still want Zulu sc6 for years to come ###***

Don't know how this is going to play out but my wee holding in Prem is looking undervalued this morning!

Canmax absolutely 100% do not want out. They want certainty that they'll get their sc6 and the offtake agreement stays whatever happens with the prepayment agreement.

Jaglith -blue tomorrow.

AIMHO

Jaglith - the addendum is about the Prepayment part of the agreement, The Offtake part of the agreement stands and Canmax want Zulu sc6 for years to come.

I hope you're not over-exposed but if you're up 1000%, you've got quite a cushion.

Martinigirl - I appreciate your view and I think we can both agree that Canmax have been incredibly gracious in allowing Prem another 8 months to get this right. They have way more patience than I've got - I was sure that GR would be toast! Why they're giving GR more time is beyond me! However, they clearly do not trust him and the addendum is clear about that and they're covering all bases just in case.

Oversight of the operational finances, I think, is a gift to existing shareholders.

I reckon GR has told them that there are serious interested parties and the addendum is Canmax's way of saying 'prove it or else... this is your last chance'.

I don't think that your correct in saying that Canmax want to walk away - the addendum is principally about the prepayment part of the agreement. There is nothing quoted today that says that they will cancel the offtake part of the agreement and I think that says they still want sc6 for years to come from Zulu. Whether it is Prem, a Prem JV or some other reputable organisation, they still want Zulu sc6!

Funding and debt... I reckon the new 'buyer' or JV partner will sort this.

Iky786 - well that was very unexpected. I'm very happy. I didn't expect Canmax to extend to the end of the year... GR has clearly shown them enough to convince them that there's a good chance that they'll either get their money back or sc6 by then... and that means that he has serious interested parties and that there'll be cash to get the plant producing. There might also be a plan to get sufficient sc6 to Canmax to cover the prepayment by the end of the year given the long stop date.

Reading between the lines, I think it's likely to be a JV and that would be fantastic.

I take Canmax's oversight of operational finance as a real positive for holders!

Got to go just now but I'm very happy!

sp will undoubtedly rise tomorrow. I hope the shorters managed to close their positions.