Member Info for tedoby

The 100 days milestone is a relatively "soft" one to achieve

Extraction will have begone in the underground mine and there will be stockpiles there along with the tailings to process in any event.

GLA genuine shareholders..

https://www.herald.co.zw/govt-to-pursue-local-lithium-beneficiation/

"Some of the projects that are being pursued include the Zulu Mine located about 80 kilometres outside Bulawayo, Zimbabwe’s second largest city, which is being spearheaded by Premier African Minerals."

You're more than welcome Bottompicker.

You and I are completely aligned!

GLA genuine shareholders

I posted my views on a Prem meeting with the MOI last Saturday. My thoughts haven't changed much in that I thought there would have been a meeting to sign a new SA would've taken place either on Monday or Tuesday this week.

Following the meeting I think there's likely to have been some "dotting the i's and crossing the t's" to do before an RNS could be finalised. The MOI may have felt the need to issue minutes recording the meeting for instance and perhaps an exchange of letters might have been appropriate .

But if that's right the MOI wouldn't have been doing his part on Wednesday with it being "Workers Day" in Zimbabwe which is a national holiday. There seems to be a strange irony there somehow to me - calling a national holiday "Workers Day". Anyway I think it's likely that any final "tidying-up" needed to be done on his part would have probably been done yesterday.

Also Monday next is a bank holiday here in the UK as well as we know. So I think it's more than likely we're going to hear news on Tuesday or Wednesday next week . Having said that I'm not entirely ruling out the possibility of an RNS bringing us news later today.

AIMHO

GLA genuine shareholders

That would be very nice YN!

Good luck with your strategy.

YN thanks for the feedback!

There were two 5m trades. were both yours?

ATB

Charlie1984 thanks. We need the $6m!!

chip from the old agreements the rental carges was $52k/month and the management fee was just over $20k/month.

They ran for five years and expired a year or so ago by my calculations. So I would expect the new ones which we haven't seen yet to be a little more.

Hope this helps.

GLA genuine shareholders.

Nice posts this morning Charlie 1984.

A consideration but complex and difficult to explain is this. If the $6m is designated to cover specific costs which is looking likely then those costs will need be kept entirely separate to RHA's other costs.

In doing that the $6m could in effect generate a positive cash-flow very early by reducing RHA's overall costs. In turn that positive cash flow would then produce a payment to Prem under the Loan Agreement.

Prems income through its Loan Agreement will also be complimented by payments made by RHA under the Management Agreement and the Rental Agreement which I have at about $80k/month for the two. Those two payments should begin immediately on re-starting the mine.

So when the saving on the Care and Maintenance costs are also taken into account the impact on Prems cash-flow is likely to be transformational from the re-start of operations.

No doubt the costs set against the $6m cash injection would need to be managed properly and proven. But the management cost of doing so would a small price to pay.

I said it would be complex! Ha ha.

GLA genuine shareholders

Nice one CF!

The $6m cash injection will be used to finance the new semi-mechanised decline shaft amongst other things. That in itself will be a positive step change in RHA's profitably.

So I agree NaPoM I too would much prefer a $6m cash injection over a 90% ownership option if we had to choose.

GLA genuine shareholders.

Excellent reminders NaPoM!

I'd forgotten most of those.

GLA genuine shareholders.

Smilemore from the exchanges this morning you shouldn't need me or anyone else to try to persuade you to carry on posting on here!

Perhaps a better time to stop would be when you disinvest ! Ha ha.

Good luck CF!

You've been solid as a rock.

Smilemore I'm standing in the line of pi's asking you to carry on posting here please. We need you.

In fact I'll be more forthright and stand in front of everyone else for once and ask you to please. We MUST have you keep up your good work on here!

ATVB

Crystalball58 your thanks earlier are gratefully received.

I don't find it easy to write the way I do either. But that's mainly because the information isn't readily available. It's relatively scant in fact which I find a real shame. Add to that I can't type very well at all and I'm not IT literate I'm afraid.

But what I do have are professional qualifications and skills from almost 50 years of work experience in areas akin to those I write about. For example today the ones I have in Contract Law have been particularly useful.

It's very hard for me to avoid appearing to be conceited or seen to be just plain ramping. Especially when Prem is either invested or owns outright assets that are simply world class. Particularly the Zulu opportunity which is nothing short of mind blowing.

My posts aren't to everyone's liking and they never will be. I accept that. But so long as there are some genuine shareholders that are appreciative just as you have been today or alternatively can take something from what I say then I'll carry on giving and sharing my opinions regardless.

Thanks again and ATVB.

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I've done my best to join the dots to form my own picture of where we might be with the new Shareholder Agreement and the Government's position on RHA as most of us probably have. I'd like to share my opinions which I've tried my best to substantiate by doing as much research as I could.

Going back a few weeks and after a series of meetings I’m reasonably sure that Prem finally reached the bones of new Shareholder Agreement in draft form with the Government's Minister of Industry.

Since then I believe the Minister has been orchestrating approvals and/or amendments to the draft from the relevant third parties and stakeholders. No doubt there would have been quite a number.

The document itself is sure to be one several tens of pages long and incorporate such sections as the Finance Agreement a Rental Agreement a Management Contract to name just three of many. The protocol the MOI would have been following is not uncommon in such circumstances. But I’m in little doubt it’s been necessary and time consuming.

I also believe that process has now been completed and a new Shareholder Agreement has been produced along with the necessary copies and they're now ready for signature. But it would be wrong to imagine that the documents simply need signing by the Minister. By preference he will almost certainly want to be the last one to sign apart from witnesses.

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There is most likely going to be an “original” Shareholder Agreement to be held for safekeeping by the Government and there will also be a “certified copy” to be held by Prem. There may also be further copies produced for interested parties but not necessarily signed. There can only be one “original” and one “certified copy”. The original Shareholder Agreement along with the certified copy will have to be signed by the MOI on behalf of the Government and probably by GR on behalf of Prem. There will be signatures needed from at least two witnesses as well. Again all fairly standard but quite procedural..

The $6m finance offered by the Government can not happen until the Shareholder Agreement and its copy has been executed and are in place. That will follow in line with the agreement and it’s probably going to go to RHA as the recipient and not Prem.

Signing the Shareholder Agreements will almost certainly take place in a meeting as I see it. It’s by far the most sensible way albeit not the only one of course. The Government and Prem will not want to take the risk of sending documents of such significance in the post or even by courier. That would make the process too unwieldy and time consuming given the efficiency needed and urgency.

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So if I'm right the signatures and execution of the new contract will be done in a meeting with the officers representing both parties and their witnesses present. More than likely to be held in the Government's offices.

The market activity on Thursday was as good an indication as any I've seen that the meeting is in diaries now and final conclusion to the process is very close.

Finally I believe GR is meeting with the MOI in Harare either on Monday/Tuesday this coming week and in my eyes that could well be the one I'm referring to. Although to reiterate I can't be absolutely sure.

This is not intended to be a ramp. I simply wanted to share my thoughts which I believe are reasonably well founded. But nothing in this is an exact science in this which I'd like us all to recognise.There could be achieving the objective as I’ve said but nevertheless I hope some of my thoughts are of interest.

Fingers crossed.

AIMHO.

GLA all genuine shareholders.

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It's quite apparent now that Prems BOD's have little taste for further dilution at the current SP levels. From what Prem have said as far as I can tell HBR isn't being pursued any more at the moment and the SPA with KME is under review. Both of those transactions if pursued later are going to need shareholder support and personally I’m not in favour of supporting them in the way the BOD’s has proposed so far.

Despite some scaremongering about a further placing being needed soon to cover Prems running costs simple maths paint a very different picture to me. Prems cash control and cash flow forecasting is sure to be a priority within the company although relatively straightforward for those doing it.

I'm probably stating the obvious I know but RHA has proven to be millstone round Prems neck for several years now. It's been an extremely costly exercise not helped by what's turned out to be a prolonged and deep Tungsten price route. There’s been a string of costly management mistakes made and they’ve been laid bare many times for all to see. As far as I can tell Prems BOD’s recognise those mistakes too and are not in denial for their part.

The BARA report and Technical Study RNS’d last October was targeted primarily on the underground mine and very little else. The study was undertaken to evaluate the options for re-establishing production and to provide an independent assessment. It’s scope excluded the open pit and the tailings.The study didn't review the LOM economics associated with the previously declared gross underground inferred resource either.