Member Info for steward1

Jaglith - I certainly believe that Canmax will and more!

Jaglith - I think we've got different outlooks on the price of sc6 and how much Prem will produce.

Don't know where your heads at, Jaglith. One minute you're saying that Canmax will push Prem over a cliff and the next you're saying that Prem's worth at least £47m. Now you're back on that broken old record about GR.

Have you closed that short?

I'm sure that everyone would agree that AI doesn't have that correct, Medjed! Clearly, it's not infallible then!

Question is... did Jaglith base his short on AI?

Coldsteel33 - excellent post!

Every reason for GR to stall, I guess!

No - I'm just reflecting back what you're saying. Looks as if you've changed your mind and accepted that there is value in Prem even at the current price. A market cap of £47m is just about 3 x the current MC. Have you closed your short?

The vast majority of long term holders have accepted that they won't get their original money back - I don't think they need you to tell them that.

Jaglith - so you're saying that the market cap could more than double! Good enough for me given where we've been.

Medjed - anything more than 47% of Zulu would have to be paid for. Not sure where you get 70% and 30% applying to Zulu.

Jaglith - I don't understand your point. How do you work out that ceiling?

Have you closed your short?

Good find, Toffers.

Raaydaar - I would happily accept Canmax having 70-80% of Prem. That remaining 20-30% of Prem will be worth 10's of millions once Zulu is producing.

I think it's a no brainer for Canmax... take the shares in Prem rather than a minor stake in Zulu. They'll have complete control. They'll get Zulu up and running within weeks.

Market cap will rocket and there'll still be a multi-bag for existing holders.

Absolutely no need for them to go down the route that shorters are proposing.

Raydaar - I had it about 135 billion... silly numbers!

Raaydaar - I'll correct something I said earlier - if Canmax opt to take shares then they'll end up with well over 30% of Prem... and well over 50% of Prem... depending on the 20 day VWA.

As I said the other day, I'd happily have Canmax as the major partner... should've been this way from the start!

GR is toast!

Raydaar - 175 billion shares... where on earth did you get that figure? Do your sums properly!

My guess is that there might be a grace period for Canmax to elect what they want to do BUT I reckon GR will tie them up in legal knots if Canmax fail to comply with the agreement. They might even forfeit any right to shares in Prem or partial ownership of Zulu and they also might forfeit any right to any output from Zulu... which then opens the door to other customers!

As I've said, GR is a wiley old fox - best scenario is to get a re-negotiated deal with Canmax which allows Zulu to get producing!

Jaglith - they re-negotiated that figure which I think is different to contesting it... and GR got something in return for that renegotiation. Nothing has really changed between that last agreement and now so insisting on a revised figure seems... lame! If a new value does form part of a new agreement then GR will be getting something in return.

And why would they review the value if, as you think, they're just going to let Prem fall off a cliff?

So Canmax need to make a choice today -

Do they take shares in Prem? They will now have the 20 day VWA which I think is around 0.026/0.027... work through the figures and they'll end up with just over 30% of Prem (which may or may not trigger a bid for the rest of Prem).

Do they take 45% or so of Zulu? Below 50% and they're still the junior partner and GR still has control! If they take this option, I think they'll move to take 100% of Zulu.

I don't think that they can make no choice - they have to make a choice!

GR is a wiley old fox!!

This is not unusual at all with Prem and Canmax - always leaving things to the last minute. It could point to renegotiations of a new agreement are still going on.

Jaglith - I thought all this was for GR to do another placing???

Iky786 - didn't do it!

Heading for blue!