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James - they don't want a cheaper price, they want Prem to fail and they'll say anything to try to make that happen.

They are the very worst of humankind!

Doomsters have been screaming that Prem needs funding and now that a placing has happened, they're still not happy. Dilution is less than 10% and the discount is less than 18% on yesterday's close when some of those doomsters claimed it would be 30%.

Excellent post, Iris.

Acker seems to have disappeared this afternoon... has he switched his trade? Downside risk is much more limited now. Upside potential is back in possible multi-bagger territory.

JamestRader71 - I agree with your list and would add Tantalum and that we should see that LOI from Glencore converted some time very soon. I'd be fairly sure that Glencore have already been in touch with Canmax since the site visit so I expect big news very soon.

Again, I'd suggest that there is a strong case for getting through this phase without any placing which uses up the remaining headroom,

I liked the interview much more when GH was speaking and great to hear him say that he's been at Zulu the last 4 weeks... sounds like he's got the bull by the horns! The sooner that he takes over, the better.

Elcap - the key statement in the RNS is that Glencore have signed off on Zulu meeting their requirements. That statement would have been validated by the nomad... GR doesn't get to write these things without there being evidence... plus Enprotec have put their name to it.

I accept that GR can be ambiguous with his language but the statement on meeting requirements is completely unambiguous!

Don't let the doomsters sway you - this is completely and unequivocally good news!!

DreamTheater - he/she really is a dark soul... he/she is willing Prem to fail with all the negative consequences for the local community around Zulu... the worst of humankind!

Raaydaar's post at 10:26 is a perfect example of what I'm talking about! Completely irrational.

Let's be very clear - the doomsters and shorters have called Prem way wrong. We've had the extremes of some of them willing Prem to fail and claims that placings would happen at 0.012 or lower... they have claimed that any report of progress has been a lie and have been irrationally unable to accept any progress as fact. They have claimed to know better than Enprotec, Glencore and the Prem team working at site and have twisted and spun any official statement from Prem to suit their own warped positions. (As an aside, this is what shorting produces... the very worst of humankind!).

There is now a very strong case for there to be no placing at all - no placing to use up the current headroom and no bigger placing post-consolidation. Glencore deal will take care of Canmax and take care of other debt. I expect them to offer to take at least a majority stake in Zulu (possibly a majority stake in Prem).

I've said many times that shorters are taking the greater risk in this phase of Prem's development... that's still the case!

Nomadme - I'd add tantalum to your list. This achievement brings back some of the previous plans into the realms of possibility so I hope that GR/GH can say something about future plans/developments. Some of us will know/remember that there were some longer term potential to have several 'Zulu's'. There are also other assets that Prem might now be able to exploit.

Prem are now in a much, much better negotiating position. If I was in GR/GH's shoes, I'd be looking at whether there is potential to use non-dilutive means to counter any poor offer.

Sol001 - I'm hoping that GH is included in the interview.

Ballymena - there's now a strong case for no placing since the debt will be part of the Glencore deal.

Even if there is one, there is only 7b headroom (10%)... it would be easily swallowed up.

Iris - I'm looking at the MC and we could head towards £100m in the coming months, perhaps weeks, depending on how quickly a deal with Glencore can be done.

Today, I couldn't say how far the sp will go. What I do know is that the debt will be dealt with. If spod continues higher, which I believe it will, then this is a hold for the next few months.

Result!!!

And GR can now retire! A tortuous road to get here but fantastic news.

Acker - yes, not long now.

Profitbags - more likely that we'll both be wrong!!

Acker,

I doubt very much if Glencore's future involvement in Zulu is dependent on the competencies of GR and his team. I also doubt very much if Glencore will be put off getting involved because the plant is only 95% complete either. Their goal is to get their hands on all that lithium that is sitting in the ground - I'm sure that they've got the wherewithal and the resources to get Zulu producing sc6 if Prem can't.

Of course, it will be way better if Prem can get the plant commissioned and I've got some confidence that they'll do this. GH knows what he's doing. The OEM's know what they're doing. GR is just frustrated and stressed, and unfortunately showed this in the last interview (again!)... and he missed the target (again!) when trying to tell us all what still needed to be done.

Some will sow doubt in Glencore's DD and mock their intentions for their own purposes - they're a serious outfit. There's big news to come soon.

Like everyone else, I'm surprised that there's been no movement on the consolidation or in using up the remaining headroom. One main reason for my surprise is that GR had a limited window to do anything and this is closing fast or has possibly closed already. My own thinking is that there is a different plan that Canmax and Glencore will want to execute in less than 2 weeks which includes Glencore becoming the senior JV partner at Zulu. Having appointed GH, I would be shocked if GR was allowed to stay on.

As for the lack of news from Zulu, I'm taking it as a positive - they're clearly continuing to work on the commissioning and believe that the plant will work once commissioned. If there was a major issue then we'd definitely have heard by now.

Despite the doomsters and shorters continually claiming that there's forward selling going on ahead of a placing, it doesn't seem to be happening... for me, it points to something else big happening soon!

Yes, Ballymena and there are people on here willing for Prem to fail. Wonder what the locals would think of them?

I'm not going to pick apart the negatives but I will say that all the negatives have been priced in... certainly the market cap now compared to 2023 is, perhaps, more realistic.

There is the possibility of successful production... perhaps, I should say 'probability'... if/when Prem confirms that they are producing sc6 or more at a reasonable rate (to begin with), the MC will take off and the funding/debt situation can then be addressed with the help of Glencore and the tantalum off-taker.

Profitbags, since Monday morning, the sp is only gradually down but, yes, I wish he had gone down the dfs route!

Jaglith, clearly, you're a lazy shorter who has very limited knowledge about annual reports!

And, of course, he will be owed it but, if everything goes as you hope, he's never going to get the cash!!