Member Info for steward1

Good comments on Prem's approach to produce sc6 spod compared to other projects - sounds like they like Prem's approach long term which gives more protection against price softening (which they think others will struggle with).

Hasiba - I agree, Also, GR said that Stark should have things sorted for production in 7-10 days on Friday so I'm expecting /hoping for additional good news next week which should be a real positive for the sp.

There should also be some update this week on whether Canmax are willing to engage in getting the FM situation resolved.

Any serious 3rd party will want to make an offer to GR this week too .

Things are hotting up!

Perhaps the nomad needs an RNS on 'shooting the lights out'!

Acker - what do you think will be contained in the RNS?

I should have added that Canmax have a few big calls to make -

do they decide to go down a protracted legal route and get no product during that period?

do they come back to the table to negotiate knowing that GR is in a much stronger position?

do they make a bid for Zulu/Prem?

On the latter, I doubt if GR is willing to agree to any bid at this point in time unless it is a stonking one!

Laverda - there is no new agreement. The FM suspends all existing agreements, both the offtake agreement and the prepayment agreement. If Canmax go down the legal route then that could take a considerable amount of time - some are suggesting a year or more. So that allows Prem to sell whatever they want to whoever they want in the interim - this is effectively what GR is saying in the interview. It also gives them plenty of time to sort out the grade but I expect that we'll hear that Stark are moving things along very quickly later today and that production will begin again in 2 or 3 weeks..

Post from yesterday by mastertrader1 which is well worth repeating -

'I thought it was a very clear and open interview with GR on Friday.

George has sent a clear message to Canmax that the new terms are totally unacceptable to Prem and its shareholders.

A good clarification also that GR will back Prem short term with his own money if required or offers of private investment also.

Confirmation also that the plant modifications will continue, with Stark accepting responsibility and also paying for the upgrades, while Zulu will start to produce at 50% within 1 to 2 weeks.

The accounts were in on time confirming there would be no suspension of shares, as the normal naysayers alluded to.

Gr also confirmed that he had at least 6 or 7 significant large multinational trading houses, who are very interested and really want to deal with Prem and have already given indications of indicative terms to take on the offtake agreement. George is presently actively in discussions with multiple parties for the Zulu,s Lithium.

Maybe Canmax will come back to the table, maybe not, but in the meantime we should certainly see a big improvement in the working capabilities of Prem,s Zulu mine and also a further negotiation's will progress with other potential partners who will be desperate for our Lithium.

The market seemed to like the news, next week will see a further significant rise in the share price, going back to where it should be eventually. Anyone buying at these levels will do very well over the next few weeks.

Look at the bigger picture with a fully working mine producing sc6 and enjoy the benefits of a significantly stronger share price in the months to come, not without risks, but Prem will come out of this in its best position it has ever been.

I have also bought shares in Li3 which could eventually be massive and home to Prems second mine !

Please ignore the non invested here with there own very obvious jealousy and agenda to disrupt the board and cause doubt and confusion to Prem,s investors.

Good luck to all genuine investors'

Beginning to think that the plant issues are a major blessing in disguise.

Gr has managed to get us out of a potentially distressed situation but has also given the opportunity to get better commercial terms than before. Not only that, it sounds like Zulu can sell their output until FM is over at market rates to anyone they like(?) which could allow a bigger cash balance to build up and/or repayment of $36m to Canmax and, who knows, a quicker start on the EPO area.

He might be able to get a 3rd party to take over Canmax's prepayment position on better terms (Li3 could be a good candidate)

We're going to hear some detail from Stark which we might not have heard otherwise... it should be positive (perhaps, it was going to be too positive and that's why it got delayed). Stark now have a greater incentive to deliver and will be motivated to get it fixed sooner and to produce more.

Quite apart from that, it does look like Li3 will develop more quickly than thought.

Funding - I doubt if GR will need to dip his hand into his pockets.

All in all, I think that we're in a stronger position than in May - the sp will begin to reflect this. Wouldn't be surprised to head back to 1p in short order.

Profitlock - not sure what you would expect from a company who are just about to start producing??

Heading back to 0.5 and then to 0.7 next week.

Prospect of better terms than with the Canmax prepayment.

Stark will confirm that SC6 is achievable and that they're ahead of schedule with the adaptations.

GR will confirm serious interest from other 3rd parties.

Enjoy the cricket, Puma!

Some folk losing their nerve this afternoon and others losing their marbles!

I wonder what Canmax are up to.

I'm sure that there's a bot running - lots of small trades at the very same time. Is the sp being held back so that a bid can be made?

That's my thinking, Acker. Get an RNS issued (1:30pm?) and then talk freely in the Stockbox (which has probably been recorded already).

ASI - good to see that you're here... not quite as bonkers as VAST but this board is entertaining!

This guy is desperate - apparently the FM is a figment of our imagination now!

What thepuma is deliberately ignoring is that there was no financial obligations to Canmax - they were going to be paid in spod. The spod is delayed BUT the FM takes care of that and gives Prem/Stark sufficient time to deliver the spod before the FM expires. The FM might be legally contended but it is highly unlikely that it will because the issue will be over before it gets to court. A delay is not an uncommon thing in the business world. Stark are taking care of the costs to make the adaptations so that leaves any other running costs which, I believe, GR is going to cover IF they run out of cash.

In the event that the shares are suspended, it won't be for a long period and I'd suggest that when it comes out of suspension, the sp will be way higher than it currently is.

This guy obviously has a short open and he's attempting to scare folk into selling. He doesn't really believe that the sp is going to zero. He simply wants the sp to reduce to close his/her short.

I did acknowledge that thepuma but, equally, auditors are very used to addressing the issues faced in signing off these accounts. A letter from GR confirming that he will keep Prem solvent would be enough.

Raaydaar, I don't think the auditor would have accepted the appointment unless they could fulfil the obligations within the timescale. There was a spanner thrown into the works earlier this week but GR has (if you believe it) said that he'll keep the bank balance in the black... my take on that commitment is that it probably came from a discussion between GR and the auditors so that the accounts could be signed off.

Also, there is the obvious fact that the market should be notified immediately if the accounts are not going to be submitted... this has been a live issue since at least last weekend and the auditors would have taken a view on this early in the week... but then again we are dealing with Prem!!??!!

Not sure if anyone has posted this yet but here's another of Charles Archer's notes on PREM... very good piece and well worth a read for anyone who isn't quite getting what is going on.

https://investingstrategy.co.uk/stock-tips/premier-african-minerals-classic-ftse-aim-case-study/