Member Info for steward1

It's been a rocky month,Iky. Canmax are still involved through their 50% offtake. They'll be back.

We really need GR and Stark to reassure us all (and not just a chosen few) that things are back on track.

Acker - same here but I think that he wouldn't be doing the interview unless he could reassure everyone that it is back on track. Let's hope that he doesn't mention 'shooting the lights out' though!

If this interview is combined with some news on funding, even if it is just GR seeing us through to production, then we'll be soaring again.

I expected more volatility today... glad to see the sp gradually climbing back.

I don't think that is a rumour - it is simply someone stating an opinion. I'm not an accountant or auditor but I think the key to having the accounts signed off is whether Prem is a a going concern or not rather than specifically the FM. Please correct me if I'm wrong.

The 'going concern' is an issue because Prem has no income and a liability towards Canmax. I believe that GR can provide reassurance to the auditors that he will provide or is providing sufficient funds to enable Prem to get to a point where income will begin and the Canmax issue is resolved.

I think that's how it could be addressed but please correct me if I'm wrong.

The above is why I expect an RNS from GR confirming that there is funding in place before the eop tomorrow.

It certainly all is a bit crazy and very messy... GR would do well to bring some calm and reassurance to the whole market rather than just to his favoured crew. Give us an RNS GR... we should get one today or tomorrow, in any event, stating that the accounts have or have not been submitted...

I now expect them to be submitted given that GR is putting up short term funding... we need the short term funding in an RNS immediately.

I wholeheartedly agree, Acker. If GR is going to fund out of his own pocket then that's an RNS... and would benefit the sp massively. That sounds like there won't be a suspension - again, that would impact the sp.

And, Acker, that's exactly why Canmax walked away from the prepayment deal - they knew that, in the long run, they wouldn't win on that front.

It's REALLY IMPORTANT that folk grasp that Canmax still want their offtake arrangement and haven't sold their stake.

Ultimately, GR will pay Canmax the cost of the plant whether in spod or in cash. GR has protected lth's interests and this seems to be a never-to-be-repeated opportunity to buy at these prices and hold for the long term... not financial advice, just my opinion.

I've got my George Roach Appreciation Society mug out today!

Hasiba - I think the market would react really positively to GR doing a fundraise now. Enough funds to see us through to full production and a bit more.

I don't think that he is in any mood to accept any offer unless it is for, say, £500m for Zulu. Canmax know if they go hostile, they'll be paying a fortune for it. The situation is messy but I think GR has protected lth's really well.

I think lth's have nothing to worry about (GR has done us a favour!) but my best guess is that GR will need to do some form of fundraise today or tomorrow if he doesn't want the shares suspended... can't see how the auditors will sign the accounts off otherwise. Can't see some folk wanting to hold all their current holding while the shares are suspended. Difficult to guess how the market might react either way.

Another day on the Prem rollercoaster!

GR has some big calls to make -

How is he going to raise some cash?

Will he publish grades?

Suspension or not? (probably out of his hands)

Sell Zulu or get a new partner (latter will have implications on him I believe)

Buy more stock or not?

Retire or soldier on?

Well, we need something from GR along the lines of

we're negotiating with other parties or

we've had bids from other parties or

we're doing a RI

and

the quality of the spod is OK!

Well - I called that one wrong!! Initial thought is that this isn't good... GR needs to make a statement urgently.

Looks true - wow! https://www.xm.com/research/markets/allNews/reuters/canmax-technologies-scraps-deal-with-premier-african-minerals-53575203

SK - I reckon everything will look way different in a few days, a few weeks and a few months. For once, I think GR has done a good job... in building a defence around Prem/Zulu. A bit of a rollercoaster but I think it should end well.

And have to say that I agree with all of your points!

Good to see that you're posting again, SK, despite our differences.

Hopefully, it's true profitbags. I think it would be very helpful!

I agree Acker. Agreement on Friday.

I don't have time to find it but I saw a tweet from the CEO of Stark confirming that he was doing a Stockbox interview later this week to address the issues and misconceptions around Zulu! Should be interesting viewing.

And neither can Canmax trade either... if you were to believe the worst that suspension will happen and that shareholders will lose everything then Canmax will lose their chunky 13%+ holding and are likely to lose the cash that they handed over to Prem. Not only that, they're at risk of losing the security of supply from Zulu and any other benefit from the rest of Prem.

There are compelling reasons here for Canmax to do a deal by Friday or make a bid by Friday.