Member Info for steward1

Jaglith - best thing that could happen is for GR to step away... here's hoping!

VSA Capital were brought in partly to sort things out with Canmax and, clearly, they've done that. With Canmax back on board, Zulu will get to production. Prem was priced to fail but I'm of the view that we'll now see a recovery of the sp.

Had to dash after my earlier post.

Surely no-one thought that PREM was going to get out of this mess without a very, very serious dilution?!!?

The significant thing here is that Canmax must be supporting this move. And that they've agreed to a higher headroom than was requested in October. IF GR had had Canmax support then it's unlikely that the sp would have fallen to anywhere near the levels it did.

For anyone who has read GR's RNS's over a number of years, would you agree that this RNS has a level of detail not previously provided...ever? Would you also agree that it reads differently? This isn't GR's style and I'm going to stick my neck out and suggest that GR did not write this one. My guess is that Canmax have written it but not only that, they will have gone through the issues and solutions in great detail and agreed to the plan. So I think this is good news... very good news!

I reckon GR is now a lame duck and will be stepping aside soon.

As for the sp - there might be some volatility tomorrow but I reckon we'll end blue tomorrow (Thursday) and, contrary to others, if Canmax are behind this then the sp should continue to rise until 23/12.

AIMHO! DYOR!

Had to dash after my earlier post.

Surely no-one thought that PREM was going to get out of this mess without a very, very serious dilution?!!?

The significant thing here is that Canmax must be supporting this move. And that they've agreed to a higher headroom than was requested in October. IF GR had had Canmax support then it's unlikely that the sp would have fallen to anywhere near the levels it did.

For anyone who has read GR's RNS's over a number of years, would you agree that this RNS has a level of detail not previously provided...ever? Would you also agree that it reads differently? This isn't GR's style and I'm going to stick my neck out and suggest that GR did not write this one. My guess is that Canmax have written it but not only that, they will have gone through the issues and solutions in great detail and agreed to the plan. So I think this is good news... very good news!

I reckon GR is now a lame duck and will be stepping aside soon.

As for the sp - there might be some volatility tomorrow but I reckon we'll end blue tomorrow (Thursday) and, contrary to others, if Canmax are behind this then the sp should continue to rise until 23/12.

AIMHO! DYOR!

Iky786 - we're simply back to where we were at 2 or so months ago. This isn't an open offer - it appears to be a repeat of the previous GM. GR will only have gone down this route if he was confident of Canmax's support.

If you're a holder, GR needs to get out of this hole and I think he has a way out with Canmax's support.

The sp bombed previously because he didn't have their support. I think the price for their support will be a firm commitment from him to step down.

Let's see what he has to say - I'm sure there'll be another interview.

It appears that Canmax are back on board! This looks like good news to me given where Prem are at!

Something underhand going on??? Who would have thought!!! Within weeks of my first investment here, GR had decided to use the money raised for Zulu on Circum (£30m??). Not illegal but very poor form and, of course, we've not seen any return on that. Over the years, I've wondered how much of the poor management has been to do with incompetence, deliberate incompetence{!} or underhandedness (if there is such a word) and concluded that there's a bit of everything. Having said that, GR seems to be extremely competent at holding on to his position and gaining financially from it. And I really don't like the cosy relationship that evolved with Snowking and others, and I think GR has actually played them to enable him to stay in charge.

BUT... and hopefully I'm right, there are things going on now which lead me to believe strongly that PREM is going to get another load of cash without having to immediately go for an open offer, if at all. There's a big enough upside to throw a few pennies at the current situation.

AIMHO, of course!

Good on you, Martinigirl, for raising it with the authorities. I'm not convinced that they'll act on it though... limited resources, small fish, etc.

I'm surprised that we've not had any RNS yet.

If there is to be an open offer then it's taking some time to put in place - GR knew well before the last meeting that it was highly likely that he would fail to get his motion passed.

The fact that we've not had any RNS on an open offer by now could point to a different funding arrangement being put in place. The equity swap could back that up as well.

I believe strongly that it is the latter that is happening.

Tbob418 - I'd suggest whether or not PREM go down the open offer route is pivotal... certainly pivotal for the sp... and I doubt if the lth's (I think there are still some around) see themselves as gamblers.

Pivotal week for PREM and GR. We should find out what he's going to do about financing. Last week's rise appears not to have been a dubious pump and dump but seems to have been on the back of an equity swap... could be Canmax, could be someone else. Whoever it is, there are clearly some moves behind the scenes.

I'm still of the view that GR has been offered some initial finance which allows him to delay an open offer to some time in the New Year if he needs to go down that route at all. Wouldn't be surprised if Canmax has made a move now.

FWIW, I'm pretty confident that GR has managed to wangle some sort of deal that delays the need for a heavily discounted open offer.

In fact, if he gets the cash to get Zulu working AND if it does work then we're onto a different path forward with no heavily discounted open offer... and any substantial fundraising in the New Year will be of a different nature.

GR needs to say something today and I reckon he'll, at the very least, give a strong hint that he has a deal.

Chaffy99 - I do my own research.

Jaglith - if the approach I outlined goes to plan then the open offer will be a much smaller scale.

BTW, this might get Canmax back to the table!

Just to be very clear, I have nothing to do with Snowking et al!!! I'm not part of their group and never will be. I do my own research independently of anyone else. I have my own contacts, etc.

I saw your post earlier about ATOS - well done! - I had some cash available in my HL ISA but couldn't find it available o buy... hey ho!

Hey Acker - hope that you're well! Could GR possibly pull another rabbit out the hat?

I was slow to see this yesterday so didn't get on to it until late last night/early this morning. I believe we're initially looking at a cash injection from a 3rd party (not sure how it's going to be done) to get Zulu up and running (finally!) followed by a fundraise/debt deal in the New Year to sort out the remaining debt. Cash injection is expected to drive the sp north, which will more than compensate for whatever is being given up for the cash injection. GR is expected to finally step back.

He needs to say something today or tomorrow about it.

Thought that I would never be adding here again but I'm reassured that there are talks going on so I've taken a wee slice. Expecting GR to announce a deal and then step back.

The basher - good post. My approach is to hold and wait. As you say, any positive news and this could easily bag and more.

Clearly, the Indian plant and delivery of bigger batches is key but there could be other news as well... one big unknown is what Team Europe will do about funding.

Perhaps, there'll be some moves at a corporate level (see this morning's announcement at Atlantic Lithium) - I'm sure that there'll be some bigger mining companies casting their eyes over CLON... just can't see the big boys not wanting the tech that the CLON/NextChem partnership has to offer and I'm sure that they'll want a piece of the action in Bolivia... or, perhaps, Warner will add again.

Plenty could happen at any time!

My understanding is that there is a lot of confidence in CLON and NextChem about the tech and the likelihood of getting licences in Bolivia. There's also a lot of confidence that the scalability challenge will be overcome.

Between now and Spring, NextChem and CLON will be exploring funding opportunities. With Team Europe and a take-off arrangement already in place, I doubt if it will be difficult to attract funding but I'm hoping that we'll be in for a surprise on this front. With the demand for Li likely to increase and the price with it, I'd be very surprised if we don't see other folks looking to take a proper stake... which might drive the formation of another entity. DH has made sure that CLON is well placed to benefit from whatever transpires. I doubt very much if there will be radio silence until next year.

TrumptyTrump - waiting for facts on AIM?? You've got to be joking. By the time any facts come out, the bulk of the rise will have been missed. This will move very quickly on rumour or leak... the latter being more likely.

Hamiltonbro - already, the sp has climbed 25%+ in the last month without much volume. Some sustained buying and we'll be flying.