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El-gelboy - how should Prem proceed then... or.... what would be good news for you?

That's not the only circumstance - Canmax could vote Yes conditional on an agreement for GR to step down.

Good post Alertrns - might be wrong but GR might already have placed the order for the flotation circuit... he said he was going to instal it regardless of the test run. I guess this would increase the throughput overall.

I think his plan will be to get a successful test run asap and, once he has that, he'll get a loan to get production going. Unless we see a massive jump in the sp, the 15b new shares won't last long at all... I reckon GR is hoping for a jump after the vote next week and for the sp to continue to rise after that. Current market cap is around £17m and I'm hoping it'll be nearer £30/40m at the start of the year and with a successful test run, should be heading to £100m. The peak has been around £200m and, if all goes to plan, we should get back there once the plant is fully operational and producing constantly.

The thing that will boost the sp further is if GR stands down!

AIMHO

Doubt that it's going to drop like that because it's looking very likely that the vote will pass... even with an extra 15b shares! Like others, I think Zulu will get there this time round.

Jaglith - I think most people would like to see GR step out of the way and I think that could still happen in the not too distant future. At one point, I thought that the biztech guy was going to call an EGM?? The problem for me is that I reckon that VSA, Enprotec and Canmax will get Zulu over the line and GR could then claim to be some sort of mining guru! Despite that, I'm convinced that he'll be sailing off to a retirement home soon.

Raydaar - I don't think that he's taking a monthly salary. Don't misunderstand me, I wouldn't trust him with a company credit card but, like before, he's not drawing down a salary.

In any event, we've all known what the situation is with GR for years and years, including yourselves,...not sure that the bitter comments have the same effect now!

I agree with the general sentiment that GR has destroyed the value that holders had but, and I might be wrong, he isn't taking cash from Prem and hasn't for a while.

The much more important issues are the vote and whether we'll see some sc6 soon. I reckon that he has the support of Canmax this time round.

Or the figures being quoted weren't high enough for GR to take them seriously

Or the interested parties couldn't get their boards to sanction an offer for a plant which didn't work at the time.

GR's overall approach to getting Zulu done has been deeply flawed and he simply hasn't had the right things in place to persuade others to make an offer.

However, if he gets sc6 flowing from the plant, it will be a different story!

Just as well that Zulu isn't a new project then!

Martinigirl - I don't dispute the general gist of what you've said. I would vote for GR being removed if the opportunity arose. The idea that GR only wants his monthly pay cheque has merit BUT I very much doubt that he wants to end his career with a life defining failure... he still wants and needs to deliver a working plant producing SC6. For Prem to continue, he needs the sp to rise significantly... the 15b new shares will only take him so far... there's no dispute about that. If he gets the 15b shares, he's expecting the sp to rise. For each step of progress he makes at Zulu over the next 2 months or so, he's expecting the sp to rise. If he does deliver a working plant producing SC6 then he's expecting the sp to rocket. Once/If the Market Cap is significantly higher and the plant's production is confirmed, he can then raise more funds either through a proper loan or issuing more shares. That seems to be the route through to survival... and, if I was in GR's shoes, I'd certainly give it a go. What is the alternative... give up and walk away?

It's all about risk/reward... I think the risk is still very high but has been tempered by the news that Canmax are back on board, VSA have brought a bit of order and Enprotec seem to know what they're doing (compared to the previous 'shoot the lights out' guy). For me, it's now less risky than at anytime in the last 18 months or so and the reward is significantly higher.

Lastly, I'm under no illusion about GR's competence and behaviour - for all those Zimbabweans who got work at Zulu in 22 and 23 and then lost their jobs, it's criminal... we can pontificate all we like on this board but the folks that are really suffering are sitting in Zimbabwe. The goal, which is better all round for everyone (except shorters and financial vultures) is for the Zulu plant to be up and running and producing SC6. I think there's a chance that will happen now.

AIMHO

And even fewer sells, Jaglith! Let's see what the next news brings us.

Martinigirl - despite the name-calling by others in the playground, I'll take my hat off to you. I've had an interest in Prem since 2017. I don't recall the specifics but, many times, I have wondered what has been going on in the background at Prem and who has been benefitting from decisions made. The incident that you refer to confirmed my suspicions and, of course, for the last 2 or 3 years GR has had a cosy relationship with Snowking and others- it'd be great if the authorities took an interest but I'm not hopeful.

AlertRNS - not sure that I have an answer to that question but, like you, someone who is competent and can deliver. I wonder if the Biztech Academy guy has someone in mind?

Since the last announcement, I'm not sure if anyone has spent much time thinking about who will take the 15b shares that will be issued? Might give some clues to who could take GR's place. After they're issued, there'll be around 51b shares in issue and 15b, surprisingly, is around 30%. Canmax already own a chunk - would they go above 30% with the option of making an offer for the whole co? Is there a 3rd party who will take the whole 15b as a way in to taking it over?

Any thoughts anyone?

And there's been no funds to fix anything since, Jaglith.

Let's see what transpires - there's more news coming this year and then we'll know pretty soon in the New Year whether it's producing sc6. Between now and then, there might be a wee bit of volatility but my view is that the sp will move up. AIMHO!

EL-Gelboy - I don't normally have much good to say about GR but I think Canmax and Enprotec are going to carry Zulu over the line this time. I also think GR is going to step down soon. So, in the short term, even with an extra 15 billion shares, I think the sp is going to rocket (not to the highs of 2023 though).

I'm expecting news of some sort of short term finance arrangement. GR hinted as much in the last interview.

That's accepted Raaydaar. He's not looking at solving everything now... this is step 1 and once the plant is running, he looks for more funding in the form of debt or he gets a JV or he sells Zulu. There's a (sensible) path he's navigating given the constraints.

I don't know about anyone else but I get the impression that there seems to be a much better handle on the situation all round. Enprotec appear to have done a thorough job and VSA seem to have been able to get Canmax back on board... I'm assuming that Canmax are persuaded that the solutions to the plant issues are the right ones and that Prem can deliver. GR is expecting to get funds almost immediately (should get an RNS today or Monday, I'd have thought).

And, for me, it is now very clear that Canmax are not looking to snaffle Zulu away from us. Prem has been priced to fail for the last few months and I think that risk has been significantly reduced.

Well - I would take a whole load of confidence from that interview that Canmax are very much on board again. GR talking about having some funds within days to get the work going again! Still some discussions taking place, I assume, with Canmax and we should hear more very soon.

GR looked and sounded more bullish than that awful event in London. I think I'll be holding and possibly be adding again.

Yes, I don't think Canmax would get Zulu but they could probably take the hit. The major thing that they could lose is access to all that lithium. I think VSA have probably been able to be candid with both Canmax and GR and this is what has got Canmax back on board. Still think that GR will have a price to pay - his resignation!

I'm sure he'll be doing a Stockbox interview so it'll be very interesting what he has to say.

It seems a lifetime ago but the Prem market cap peaked in April/May 2023 ahead of the anticipated start of production... circa £200m... with the support of Canmax, Prem is back on that track so the big question is how far the market cap will rise. Of course, a lot more is now known and certain parameters have changed but, if all goes to plan, the market cap is bound to rise from the current market cap of around £20m. I suggest you do your own sums!

Let's see what transpires but, if GR was to step away, with all due respect to him, I can see £20m-£30m added to the market cap right away!!

I added a few!