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Something very underhand going on here- GR was selling all the way through July whilst apparently negotiating with Canmax.

He has stooped to a new low in my book.

He has got some explaining to do.

The NOMAD needs to explain too why two RNS's were issued about a loan funded by a sale of shares which had already taken place - why are we only being told now that GR reduced his holdings in July?

Check out the dates of the transactions - GR has been selling since 6th July!!!!!

Now we know why he was not wanting to answer any questions.

Sleekit get (as they say in our parts!)!!!

Hey Acker - my sabbatical didn't last long! Biztech's latest video was excellent - didn't agree with everything but he's got GR sussed!

Been here since 2017/2018 and have the scars to prove it. GR is his own worst enemy and one does begin to wonder whether he messes it up consciously. I'm sure other lth's will agree that, in the current situation, things might get a whole lot worse before it gets better. I would only consider adding again in the high 0.2's or low 0.3's... it depends on what transpires. PREM is not for the novices!

Marcuspd, I agree... long term and if GR can get us through to production in the timescales set, it should multi-bag and produce a dividend on top. Meantime, it'll be another rollercoaster for a couple of months. Very frustrating that we have this mess (again!) from GR.

Let's see what transpires, Marcuspd. Feels like you're relatively new to Prem - hope that you're not feeling too bruised!

Aimisalaugh - I now believe that GR completed the sale of his shares prior to the interview, even as early as last week and that we'll get an RNS about using some of the headroom to immediately repay him. Say he sold his shares at an average of 0.5p, he would have sold 400m shares. He could get as many as 500m shares back... that's an extra 100m shares to GR!!!

I'd be very surprised if we don't get an after hours RNS today or one before opening on Monday.

AIMHO, of course!

Radika - it was a very unusual move and an odd coincidence. I ask myself what did GR know at that point in time and was he being completely transparent about the situation? Wasn't a huge amount either. I'd conclude that he had some ulterior motive... AIMHO!

Clueless-1 - GR had put himself in a strong negotiating position with the FM and protected Prem from any action on missing targets. None of us know for certain that the plant is going to produce SC6 and in enough quantity and it's dependent on a 2nd hand mill! He could have held off until the plant had actually produced and that would have included holding off the SGM. The SGM and the need to get Canmax to support it meant that he had to do a deal. He now gets to issue shares BUT he has opened the door to further disappointment because Prem/Stark may not get the plant producing in time.

He's gone from hero to zero, I'm afraid!

Watched the interview again this morning. GR's demeanour just wasn't good... constantly shifting in his chair and a bit irritated when asked some questions. From around the 25 min mark, it got worse. I ask myself why he wouldn't discuss anything about his loan and share sale. Those of us who have been around Prem for a few years were probably surprised that GR was going to cough up a loan to see Prem through to production and doing that by selling his shares. Now that he has the headroom to issue 5bn shares, I wouldn't be surprised if GR has now reneged on that offer and that he is now insisting that Prem simply issue shares to cover the amount to get us through to production... I reckon that's why he wouldn't discuss it and why there has been no RNS about his holding. And we now know, due to the interview, that Prem need more than the £2m that GR was prepared to lend. So, I think, if GR's gets his way, we'll see a dilution... after hours RNS today would be my guess. AIMHO.

The other concerns for me is that he has dropped the FM like a stone... there is still a great deal of uncertainty about production and GR's irritation about questions on the quality doesn't help. He should've held on to the FM longer... the result now is that he has provided further evidence that he's a shifty, not-to-be believed character.

Again, that sense of being shifty, was reinforced when he now says that the current targets are realistic... so the previous targets, which he said were realistic, were not actually realistic???

GR truly back to his worst - not surprised that the sp has dropped and could drop further. AIMHO!

That sense of deja vu I mentioned the other day has just slapped me in the face big style.

GR back to his worst, I'm afraid. Anyone new here should tread with care and caution. Whilst GR did a fine job to protect shareholders interests (and his own) with the FM, one has to wonder why he did what I would describe as a premature deal and why he is giving a loan of £2m... or is he? All is not as it seems!

Acker - that's some list.

Good question - what will stimulate the market between now and 1st production? I'm not sure that there's much. The danger is that there continues to be delays and problems... even minor!

I might take a sabbatical from Prem until October to avoid the angst!

Does anyone know if/when GR is doing a Stockbox?

Some clarity on the production schedule would be helpful - beyond the 1st month, what is the schedule and when do we get to 4000T?

I've got some sympathy with whoever said earlier that GR should really have just gone for a JV in the 1st place. It all seems a tad complicated!

Anyone got any insight on the profit sharing from the Lithium Hydroxide? How much would Prem get? Who is Canmax selling the Lithium Hydroxide to?

I might sound as if I haven't been paying attention during class but I thought that Canmax had a 50% offtake - it now appears that they can take all of it for 3 years with the option to extend for another 3 years?? What terms would apply? Canmax seem to be getting exclusivity without Prem getting much in return.

I think the complexity is troubling me. A bit of unwelcome deja vu, I'm afraid. I'm also reminded that GR has never successfully mined anything.

I might've preferred GR to take the FM further until such point that the plant was working and the SC6 produced - after all, he had the balls to instigate it in the 1st place. He's agreed revised terms and he doesn't know if we can deliver. Just a wee reminder that it was only a matter of a couple of months ago that there were only tweaks to be made and now tools have been downed to allow for a 2nd hand mill to be delivered, re-configure and installed.

So it's all eyes on Stark.

I appreciate these are rough figures but you need to deduct interest and Canmax's share of the profits.

The other factor is the potential cash-raising in October(?).

Acker - I still think that it's possible that GR started selling last Thursday and he might have finished by Friday afternoon (when we saw the sp rise).

I'm sure that GR will do a Stockbox and perhaps will fill in some of the gaps regarding projections, schedule and funds. There is the possibility of another Prem drift until we actually see production beginning.

Marcuspd - you seem to have an issue with everything that I've posted this afternoon. Not sure why.

We were due to get a revised production schedule- unless I've missed it, the RNS does not tell us when 4000T per month will be achieved.

How long will £2m last?

Marcuspd -seems like the market is glass half-empty about the deal too.

I think we need to hear what Stark are projecting. The 1000T a month figure is concerning. When are they now expecting to hit 4000T a month and will that be the max?

There were plenty of people saying that this was all easy, realistic and achievable in May and look where we are.

I guess that's the best that GR could do.

Canmax did put up the money (I accept that)... in return, they got a healthy chunk of Prem (not just Zulu), they'll get interest, spod at lower than the market rate plus a share of the profits... they're going to do well out of this deal and that means holders will do less well. And this is in a market where there is a shortage of Li and, apparently, potential other suitors knocking GR's door down!!

Looks like the deal could be extended too - 6 years in total.

Focus now on Stark and what they can deliver... let's see what they are now projecting.

Marcuspd - I'd like to see GR's total projections for production but it looks like they won't produce 1000T per month until November. That is disappointing.

I don't like the hybrid pricing and sharing of profits!

I don't like this statement - 'the monthly payment will be settled in new ordinary shares in Premier'

Feels to me that, again, the problems are greater than GR has told us.