Member Info for steward1

Interesting weekend ahead.

Will GR secure enough support? Will Canmax vote for the motion? Will there be a deal on Monday?

There are so many permutations.

GR could raise some funds by selling the film rights to this saga!!

Possible jaguarflush but I'd offer a different scenario (my own opinion only... no leaks, no sources, etc). However, first, I'd say that the most surprising thing is that Prem haven't needed to draw down any of the loan to date.

He could be making the increased loan now because there are no other funds coming, i.e. Canmax are not doing a deal, the vote is going against GR, there is no Spod to sell and there are no other potential partners.

It could be interest free because, otherwise, he would be breaching AIM rules.

Perhaps, the extra £300K is needed because Prem need £2m before they see any other income. And, if we've got this far without needing to draw down the loan, £2m might last a few months... which might indicate that things are not going so well with production.

I'm not so sure about the sp rising this morning but, for me, GR has had several months now to get a deal with someone... looks like that isn't happening. It's good that he is dipping his hand in to his own pocket but... could be confidence or could be desperation.

BTW, those are my thoughts. I'm not a member of the Telegram group.

Putting aside any rumours, leaks, etc, I'm surprised that there's not been an update or concrete news of a deal... whether with Canmax or anyone else. The vote isn't the be all and end all of Prem but still pretty important nonetheless. GR could be playing a high stakes game of chicken with Canmax - I wouldn't be surprised if he has said to them that they can have a deal if they support the headroom vote... perhaps, we won't hear anything until Monday.

Well it seems that I got it quite wrong last week - apologies!

Can someone clarify whether the vote on Saturday requires a simple majority or not?

Just getting some waterboarding prepared to get to the truth!

Not happy! This doesn't look like a leak after all!

For LTH's, it's essential to vote yes. Gives GR options in future and further protection.

I'm sure some are exhausted repeatedly emphasising that this vote does not mean that GR will immediately issue more shares. Simply means that he can as and when.

As for a 20% reduction in sp... seems like a wilful misrepresentation of what is happening here!

Johnnypc - I happen to think GR has done a great job in protecting Prem but I still hold the position that he should step aside. Not sure if it was his last interview but my heart sunk when he admitted that he didn't know what was happening at the plant. I reckon Canmax initially thought he would be a pushover but I think they will be even more looking at how they can remove him.

I couldn't comment on connections to another group but I don't have any. Just to be clear - I don't know the specific contents of what the final deal is.... whether it is only a replacement of the current arrangement or whether it is bigger than that... I don't categorically know. From what I have gathered, GR has been considering and discussing future funding options... which shouldn't be a surprise to anyone, surely! He has been talking to other parties - I've always been sceptical of whether he has been in the past but this time round it seems so. I have no interest in misleading others so I think that's as much as I should say on the subject. As always, I'm happy to admit when I've got it wrong or been misled.

Johnnypc - I would be personally hurt and deeply wounded if you thought I was part of Pandora/SK's group!

Leak happened yesterday morning, as far as I'm aware.

Romawolf - I can tell you that I sold all but one of my other holdings to add to Prem yesterday. You can chose to believe me or not.

Not sure about the logic of keeping things to oneself??

Johnnypc - as always, any comment has to be treated as speculation until we get an RNS. Even if I was to say how I've got that info (and I'm not going to) you could chose to believe me or not. It might be true, it might not. I might be getting played, I might not. That's how it goes on these boards. Take everything with a healthy degree of scepticism!!

Johnnypc - sorry to irritate you about sources BUT... a deal is done and with the legal peeps. GR taking the view that the deal isn't a deal until he gets the legal nod. So he won't announce until he gets the all clear from legal. I'm hoping that he gives enough time for the sp to respond so I'd rather he announced on Monday rather than 4:15 this afternoon.

It is now very, very clear that Canmax are not going to walk away. They must be confident that Stark are resolving all the issues satisfactorily and that production will ramp up to the levels Stark have predicted and that it will be SC6.

The next big question is what will the deal include. I'm just going to say that I'm inclined to think (rather than my sources have told me) that this deal will include some form of funding for expansion of Zulu and/or EPO. I've no doubt that talks have included the next phase so we could get a surprise!

Much more confident about 1p this month but we could be surprised by a 4p a share offer.

I agree Acker. Historically, the sp doesn't usually jump 20% intraday unless there is something concrete going on. We're very close to good news IMHO!

Nord - glad you've made a profit but your nerves would be less frayed if you invested over the longer term rather than traded. Maybe this game isn't for you. Why put money into Prem unless you think that the sp is going to rise? Everything points to a major increase so why sell?

The way I look at Prem is that the sp is going to rise significantly with or without Canmax. SC6, if they haven't produced it yet, is just going to take time. It doesn't look like Canmax are going to walk but, if they do, Prem will still sell all their spod at very profitable prices.

Trade away but there's way more peace in investing.

The important paragraph is this -

'The Board is pleased to report that these discussions, which remain ongoing, are at an advanced stage and have been constructive. The Board's expectation is that there is a common understanding between the parties and they are close to a satisfactory resolution. Shareholders should note that as CanMax is interested in more than 10 per cent. of the issued ordinary share capital of the Company, any addendum to the Agreement will be a related party transaction for the purposes of Rule 13 of the AIM Rules and will be dealt with in accordance with AIM Rule 13.'

If they were close to a satisfactory resolution at the weekend then it follows (at least to me) that a final agreement could be made this week. Because of the 'related party' situation, GR has to announce to the market without delay so there's a very good chance that this morning's rise is because there's an RNS on its way confirming the deal.

My hope is that we'll get something close to what the original agreement was BUT there's a small chance that Canmax will want to take Zulu and/or Prem as a whole. One line of thinking is that GR has been too much a thorn in their side and that GR has found the last couple of months very stressful. I believe that Canmax had hoped to wrestle Zulu away from GR but he has proved too sly/wily for them so plan B is to buy the whole thing. Let's see what transpires!!!