Member Info for steward1

It would be good to see Prem getting their social media going again.

Anyone else heard that GR is doing an interview?

I accept that the Chinese have taken advantage of the west giving up so much of its manufacturing to China and other eastern countries. However, it is still western companies who are driving the demand for those goods... in the car market, it is the likes of Ford, BMW, VW, etc. in technology, it is still Apple, etc. It is western demand that drives China... however, the west has woken up to the issues with this and over time, more manufacturing will come back to the west.

Big funds will still be reluctant to invest in Africa because there is just not the stability, security and maturity in their development. Prem is an outstanding success but it has taken a long time and been a rollercoaster. Western funds just could not risk tens of millions of their customer's money on such a risky investment... they've become more risk averse over time. That's why the big Western money hasn't gone into Africa (except perhaps for oil). The Chinese have a different mind set, though.

Having said that, I expect more big fund Western interest in Prem from here on in and I'd expect the likes of Ford to be assessing an investment in Prem.

BTW, Prem is a UK-listed company as are so many others operating in Africa.

No thanks, Watcher.

Watcher - must be difficult to live being suspicious of everyone and everything. It always fascinates me how some people conclude that what is going on in the mainstream is untrustworthy but that those in the conspiracy theory world are trustworthy.

Yes, Acker. I wish I had read Charles Archer's and SK's take on it earlier yesterday. In the circumstances (and whilst we've still got the detail to see and the deal to be signed), I'm very happy. Prem is now 'in with the bricks' as we say around these parts, at the very centre of the EV revolution for years to come and will benefit accordingly. I understand GR is already planning an interview (maybe he did it yesterday) and that smacks of confidence. GR has had a rough time and I guess that he's keen to bring some good news.

I've added this morning and will continue to as funds allow.

If SK is right on his/her interpretation of the deal (and I'm beginning to think that way) then I reckon that GR has pulled the rabbit out of the hat just as the car was going to go over the cliff.

Looks like Canmax will want to take all the spod that Prem can supply for years to come. In addition, they'll be pushing for GR to accelerate the EPO. I was sceptical (a bit of an understatement) but as others have said, this will encourage the big boys to start investing in Prem. Might even see the likes of Ford take a stake too.

I might just retrieve my 'George Roach appreciation society' mug from the bin!

Acker, I'd be very happy with 3p this year but I think you're right - if anything, this recent issue should convince GR that he needs to get some additional support plus I do think that he needs a financial buffer so that we're not so dependent on Canmax and so that we can progress other things. There is so much untapped potential in the EPO area that needs to be explored!

Acker - how are you doing?

A bit of a bumpy ride but I'm back to being more relaxed. Might be different in a few weeks but I can see a short term hit to income only. If Stark hit the targets already stated then I'm seeing more of a steady rise in the 2nd half with things taking off Q1 next year. I'll be hoping for Stark to exceed those targets.

I'm sticking with a longer term target of 5-10p. What say you?

Whilst it says that they're still negotiating price adjustments, putting a date of 25/6 allows time to see how production is going and what the quality is. Hopefully, we won't have to wait until then for an update though.

Jenkoo - I'm the pessimist here but, even I cannot see this being indefinite!

Can we assume that the current agreement/pricing for the spod that has already been prepaid stays as it is and that the new agreement only applies to what is produced beyond that? Perhaps, too optimistic to assume that??

Jenkoo - what about this para though?

'Further prepurchase of spodumene by Canmax from Zulu to assist with ongoing operational costs associated with the revised timelines and expected production figures as announced on the 25 May 2023.'

Clearly states prepurchase of spodumene?

Jenkoo - of course, they'll get sales from SC6... that is what the prepayments are for. Just depends at what price??

Dickie3times - that was me being positive!

Hasiba - I still think that GR should do a fundraise of a few million. He needs to have a cushion in case of any future issues. I think the market would respond well to that.

I think I'm coming round to it... lights are still on and an incentive for GR, Stark et al to ensure that they deliver as expected.

Redtrade - as always, not straightforward with GR's agreements. So the pricing of the spod will be adjusted - sounds like Prem will get less from the sale of spod to Canmax so income will be reduced? But there will be some future income from Canmax to Prem in the sale of Lith (who are they selling it to?)??

As clear as mud!

And they're taking it right to the line for Prem! A nervy 3 weeks ahead!

'Adjustment in the pricing mechanism whereby both parties will equally share in the gross revenue from the sale of Lithium Hydroxide produced from spodumene supplied by Premier, after deduction of the production costs of both parties.'

Looks like GR is giving up half of any margin on spodumene supplied, if I've understood it correctly! No end date on it, no confirmation of price but a significant dent to Prem's income over the next 'however long'.

Doesn't look like a victory for GR!!

Raydaar - I'm completely on board with your post last night. I've been invested in Prem since 2017 and it has been a rollercoaster mostly because of GR's mismanagement and decision making. Who remembers him spending the cash raised for the DFS on Circum in 2018(?) and here we are, 5 years later, still, with no DFS and no return from Circum! He simply cannot be trusted. Perhaps, for many, the last few weeks is their first experience of GR at his worst. For me, the current situation is unsurprising - GR, ultimately, is responsible. The sp rise is a relief to many but the outcome is unknown.

At this point in time, I'd be surprised if he got a deal which didn't dent the sp significantly (even if it is just for a short period).

I would not be surprised if Canmax are playing hard ball and will be orchestrating some form of land grab.

Given my experience of GR, the current silence does not bode well and no video of a shiny new plant is going to change that position.

There's considerable jeopardy for shareholders until there is clarity on a deal.

AIMHO. I am not a financial adviser.

So... is Mark Fairbairn part of the Pandora group as well? Has SK already seen his video? All seems a bit cosy!!!