Member Info for steward1

Profitbags - the real benevolence from Canmax would be the removal of GR!

Hasiba - I'm inclined to agree. The only two options is that there is a plan of sorts or these placings are to line someone's pockets... whilst the latter is a possibility, GR would be risking serious consequences if he's simply funding his retirement.

The most likely outcome for me at this stage is that Canmax will honour the agreement and that Prem becomes the junior partner. The debt is wiped out and Canmax take control. They'll get it up and running plus provide funding. GR will not have a say and I think that they'll remove him... his attempts at brokering a new deal with Canmax or some other party and his implied threats to allow Prem to fall into some sort of Corporate rescue are his way to try and retain some form of control. We might have more of a roller coaster over the next 3 weeks!

Prem shareholders might be further diluted but I'd much rather own 10% or 20% of a functioning Zulu plant (with no debt) than 100% of a mothballed plant.

100 billion? If that was the case, Jaglith, then Canmax would be behind it and that would suggest something else... and he's not going to get the meeting organised before 1st April.

What is more intriguing is the volume of buying today, given the predicament that GR is in, and the sp has hardly shifted... never seen this before. Is it being held down or held up?

Jaglith - haven't communicated directly with GR since 2019! He didn't like me asking for his resignation!!

He's certainly accepted his fate - the placing was a shock... I have a high degree of scepticism that the funds will be used for the benefit of Prem! Canmax won't like this at all and I'd be even more shocked if he does another placing before 1st April.

Very surprised given the volume that apart from a couple of short-lived blips around 10am, the sp is more or less flat.

He knows that the game is up for him. He might be talking to Canmax but I doubt if they're in any way engaging seriously with him. No mention of doing the test with this money either. Quite sad to be experiencing this nonsense.

On the one hand, I'm shocked but on the other... feels like someone might be writing themselves a cheque.

The sticking point for peace will be Russia's opposition to European troops being on the ground in Ukraine... that's not an easy one to get over.

Not sure of the point of the RNS other than to confirm what we already know and have said many times on here - no-one is now going to give GR any funds.

The most likely scenario is that, in accordance with the agreement, Canmax will own a majority stake in Zulu and Prem will have a minority stake. GR, as far as Zulu goes, will have no say at all. Canmax still want and need lithium so they will fix the plant (in pretty short order, I imagine). What Canmax do next is up for grabs - they could buy the rest of Zulu from Prem ($35 million) or they could leave Prem with a stake. There's a wee bit of credit to GR for structuring the Zulu deal with Canmax in the way that he has but he's still responsible for what is an almighty mess.

Of course, Jaglith is presenting a different scenario altogether in the hope that he can draw others in to short this a wee bit more so that he can close his.

BTW, GR is completely deluded if he thinks he'll get any support in any future endeavour, e.g. RHA.

Jaglith - I could say that he's getting old and has had enough but it's way simpler than that... Canmax have had enough of him! He has cost them a lot of money and hasn't delivered any lithium. As Wolf has said - no-one is going to give him anymore cash... he's finished.

You're forgetting that the market cap of Prem will soar once GR is out of the equation and Canmax are running the show. SP will rise in the lead up to 1st April IMHO - big question for you is when do you close your short!!

GR isn't going to do any dilution between now and 1st April... he's happy to leave things be and is resigned to being removed. I'll watch with interest!!

Jaglith - depends on what Canmax do. Do you think GR has the support of enough shareholders to back him in a vote. Don't think so!

Of course, Canmax can opt to take shares in Prem in lieu of the Zulu debt rather than taking their share of the Zulu plant... GR is picking out his retirement pad now!

There is absolutely no doubt that this is a mess and in a situation that no-one wanted... maybe apart from the shorters led by Jaglith and MG.

I reckon GR is now 'content' to let the current inactivity run until April 1 when Canmax become the senior partners in running Zulu. I doubt if he's had much of a choice of doing anything else since the last poor fundraise. I believe that he has some confidence that the current deal with Canmax allows Prem shareholders to retain 40+% of Zulu and the question then arises 'what value does Zulu have with Canmax as the senior partner?'

With new management, potential funding and some wherewithal to get the plant properly running, I'd suggest that the current sp undervalues Zulu considerably.

Personally, I don't think Trump's move is needed but Trump is very clearly (unfairly) angry at Zelensky and this is vindictive rather than wise. However, it will speed up the move to a deal... the big risk is how much is Putin being emboldened by Trump's support and how will Europe respond. The situation needs cool heads rather than a petulant, vindictive leader banging the table and screaming that he's not getting his way!

Sp will recover. The grown-ups are in the room now and peace is much more likely than it was a week ago.

Trump wants his minerals deal and he's getting it. Trump wanted Europe to step up and pay its way and that's happening now too.

Putin does not want to be drawn into a war with the rest of Europe and will now get to the table. Remember, Russia has lost close to 1,000,000 soldiers in this war and its economy is on its knees.

Zelensky will compromise on territory and will get security guarantees from Europe and, to some extent, the USA.

Friday was ugly but there is a clear way forward now.

EUA will do very well in the next few weeks!

AIMHO!!

Good news and with the action being taken by Stammer and the EU, a lasting peace is looking way more likely!

You're sounding as desperate as GR will be, Jaglith. The ship has sailed for GR and that's a good thing for holders.

Jaglith - GR has run out of road. He has struggled to get the market to support hi a few times now. They're not going to do it now. Best he can do is to ensure that Prem shareholders have a decent stake going forward.

Wolf - I think things are already moving and that's why the wee rally started earlier in the week. And, of course, Canmax are the biggest shareholder in PREM... they'll be calling all the shots already.

Still bashing Jaglith - come on, it must be really tiresome and depressing having such a negative outlook on the world. Get outside, take a walk and breath in some fresh air.