Member Info for steward1

Leggylad - I don't think CLON would've got passed to go to the next stage if the BOL authorities had concerns about the technology.

I'd say that it is very significant that the share options were given last week... at a point when we're expecting negotiations to start/take place on licences. For me, this is a very good signal - my guess is that they're very much still in the mix.

Haven't commented here for ages and, yes, the Next-Chem situation doesn't look as good as initially hoped for but the key here is whether CLON can get anything from the BOL authorities. I'm relatively optimistic that they will get something. If they do then financing will follow and the sp will rocket.

Acker - yes, I think there'll definitely be another fundraise and, yes, he should've gone bigger yesterday... but that has been his MO all along. The bank loan was a bit of a dampener as well.

Still a lot of jeopardy here even though he has dumped Stark and seemingly has a handle on the issues. The only good news now will be confirmation that the plant is running continuously.

I'd be wary of any other seemingly positive news!

Acker - not sure that I'll take that as a compliment... that knowledge comes with a load of scars too!

I think someone else referred to it almost being a year since we peaked at 1p and production was imminent at that time too. Yes, we are closer but you'll not be surprised to hear that I'm not convinced yet and probably won't be until we hear that the plant has run continuously for several days.

Botuney - another fantasist!

The most likely explanation is that someone was excluded from this round and they were hacked off and insisted that they got the same offer as the others.

Acker - I'm afraid that he is fast running out of road now! I agree - GR needs to get production of SC6 going in the next 2-4 weeks. I don't think that the market will accept delay in to the 2nd half of May. Make or break time!

Whywastetime - I'm not sure what else you need to know about the additional fundraise. The 'institutional' investor is getting shares at 0.17!!! There is nothing else to know!!! If you're thinking that there is something positive about this particular fundraise that we haven't been told then that is, with all due respect, extremely naive and bordering on fantasy!

Yesterday, I took the view that the fundraise was expected and needed, and I assumed that it was all that was needed. Today is different. Fundraises should only be done for what is absolutely needed and, if GR had needed another £1m, he should have taken it yesterday in one go. The 'corporate' interest should have been told to wait for the next round when one would have hoped that the sp was higher, possibly much higher. It's not the 1st time that GR has done this and, for me, it just shows how poor his management and control is.

The rollercoaster continues and I'm feeling less confident that GR can get this over the line!

Can't say that I'm overwhelmed with confidence after GR's Q&A but he has been more candid than ever... which is a bit of a revelation. Steve at Biztech has done another helpful assessment.

I agree with him and others that if you're holding, you should vote in favour. Whether Canmax and others will is a major question. GR has been happy enough to comment about Canmax before so the fact that he isn't doing so this time sends a signal to me, I'm afraid.

Like everyone else, I'm really unhappy about the situation at Zulu and, given that GR has had a year to sort this out and given that the days and weeks that he mentioned a few weeks ago have run out and given that he still has a long list of issues to resolve and given that there is no confirmation of when he will have enough to ship or a date for full operation and given that he can only be 'hopeful' about shipping something this month, this is proving to have way more jeopardy at this stage than I was expecting.

Can GR deliver? That's the big question! Forget about any other jam tomorrow projects or potential sale of Zulu or $4m from Stark (as if that's going to happen), he has to get Zulu producing. He's not produced anything of substance from any other asset so it's not looking good!

I sincerely want PREM to succeed but this is all feeling deja vu yet again!

Not sure what to make of this - seems like GR can't raise funds in any other way at a point when he really needs to. So much for getting funds from Zim sources! He could be raising, what, £8m or £9m to pay off debts plus feels like a good chunk will be for getting through to full production. Don't like that the GR loan is now being described as being 'in default'. Can't say that I'm full of confidence about the current position!

Perhaps, the right step to take now BUT it's still unwelcome and regretful. Not sure that GR/PREM will get anymore out of Stark and the legal route will be long, drawn out and expensive. It highlights that there is still work to do and, of course, all those Prem engineers who are now in control are to some extent culpable too since they've been standing by and observing the mess!

I'm afraid the Blue Nun is still in the fridge!

I'd say that the CLON sp can move significantly due to even a few trades. There are plenty of times when it has jumped 20-30% with no news and on a few handful of trades. Now that we've got some news, there could be a couple of moves of that scale in the upward direction in the coming days and weeks.

The sp has been bumping along the bottom at all time lows - I guess that it's back to the old risk/reward scenario. If they were to be successful with just one bid then the sp would easily rocket and multibag. The MC is only £2.5m!

Looks like CLON are being quite ambitious (which is good). Like others, my understanding is that CLON have very good relationships with the BOL authorities. Sounds like we're going to hear some time later this month about who will be successful... sounds like a very quick turnaround... could the BOL authorities already have strong leanings towards certain bidders??

Had all but forgotten about these - a good step forward!

Wise words, iky786... difficult to achieve but wise words. It's part of our human hardwiring that when one is told to expect something, one expects it!! Have to say that my expectations were that we'd get something as and when he had it but I had pencilled in tomorrow or Friday.

I've often wondered whether GR is just bad at communicating and setting expectations or whether he is simply being misled by others or whether he knows exactly what he is doing by raising expectations and letting us down or delaying news, good or bad. Have to say that I lean towards the latter but I do think that he's getting out of his depth... this is all new to him and it's way bigger than a one man band can handle. As others have said, he needs to strengthen the team around him!

Jaglith - personally, I think that the delay is more to do with him being in Canada (and I happen to think that there's good news to come from that very soon!). Being on top of things isn't GR's strong point but, surely, after the last couple of weeks, the rest of the team are doing as much as they can to get it all working!

GR really needs to do better on setting expectations on what is happening and when - we've been all over the place for the last two weeks. FWIW, I'm expecting another update Thursday or Friday.

Just expressing some thoughts - the GM approved the consolidation plus has given AP the option of raising more funds. However, it's dependent on what is happening with those good old diamonds. After the GM, I fully expected AP to do something immediately... on Friday afternoon or Monday. The fact that nothing has happened and that the sp has risen substantially yesterday suggests to me that something other than a fund raise is happening. It could be the diamonds (and associated deal for re-starting ops in Zim) but it could be that AP has found a new deal with the Swiss (there have been strong hints dropped).

Or is it just that the sp is finding a more reasonable level after the consolidation? Personally, I doubt it's this.

Whoops... schoolboy error!

Thanks ASI - got it! Well if that JV is being signed this month, the diamonds will be resolved this month!

The JV is worth way, way more than the diamonds so I'm not surprised that the sp is heading north... much, much more to go!

AP really should do some sort of RNS... 'in response to press reports, etc'!