Member Info for tedoby

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RHA is said to have relatively low grade ore and that coupled with the fact that it’s spotting amplifies the importance of having a greater analysis of what’s there in order to produce the best possible mining plan. This has been just part of the work that has been going on at RHA this year that some Trolls refuse to recognise.

So optimisation from detailed planning is the key to RHA’s viability and “measure twice and cut once” appears to be the tactics adopted. Extrapolating what we know the mine should be capable of producing easily over 12,000 mtu’s/m APT with a new incline to the underground mine which should release access to the higher grade ore in the pit where the quantities extracted will of course be much higher. At that point the Market Cap for the mine should be nearer $200m if not more which would give Prem holders just over 1p SP contribution on today's basis.

This may be of interest!

http://www.zbc.co.zw/afreximbank-avails-us1-5bn-stabilisation-facility/

GLA sincere holders

ChinaBlue you say "we are asked to believe that they will happily sign over a tungsten asset to PREM without considering how the war veterans would regard such a deal, especially if they aren't getting something from it?"

Perhaps as a non-investor you didn't realise "the deal" as you call it has already been agreed by default. it was effected by changes in the Indigenisation Law now enshrined in the new Finance Act. It's a debt for equity swap change so the war veterans should be pleased with the debt relief in any event.

All Prem are asking and waiting for for is a signature on a revised Shareholder Agreement which of course will be of no concern whatsoever to the war veterans.

I trust this helps with your understanding.

GLA sincere investors.

Well done today CF73 and thanks again for sharing your feedback.

All you can do in all honesty is relay what you've been told as accurately as you possibly can. There's absolutely no doubt in my mind that's exactly what you've done with the highest level of sincerity when sharing it with your piers.

The argument as to whether there's a meeting or not is simply a mindless sideshow. What really matters is whether or not the Giverment signs off the new Shareholder Agreement on RHA by next Tuesday which I believe it will.

Of course there is likely to be at least meeting on the 18th December attended by the MOI. One being the weekly Cabinet Meeting were decisions on projects such as RHA are handed Down. Maybe that's where any confusion over meetings has arisen from.

As far as I know there's been two precursor meetings in readiness for next weeks CM. One with the Vice President that took place on Friday 30th Nivember in which he confirmed his approval and then another on the following Monay 3rd December in which the Minister of Industry also reaffirmed his approval but wanted a few to do a final check with the President himself. Which is perhaps why RHA wasn't on the agenda for the CM meetings held on the 4th December and possibly last weeks too.

I believe the MOI now has what clarification he was looking for and is now in a position to deal with the issue. Which in turn is why I also believe the Goverments approval to restructure RHA will be in place on or before December 18th.

As I say the debate as to whether there's a meeting or not to hand down the document is nothing more than an irrelevant sideshow and to imply someone has been lied to intentionally is disingenuous.

GLA sincere investors.

Thanks for the feedback CF73.

glosman many thanks

Snowking is that you're own feeling or are you basing it on anything more definite can I ask?

GLA

Wolframite if I'm your'e accusing of me of being one of "Those with blinkered vision would have us believe that it no fault of GR, that the company has not progressed at all in 2018" then you do me a disservice! I don't think I've said that today or ever in fact.

For the avoidance of doubt I believe that GR should take some responsibility for it. But at the same time I don't believe he's entirely to blame.

Great post CF73. Very level headed.

Some tend to forget Prem has no debt and it's assets belong the Prems shareholders an no one else. Prem is not at the behest of any company or individual. Not even GR!

Added to which Prems overall assets far outweigh it's long term liabilities. By many fold!

From those two key perspectives Prem is sure to be the envy of many of it's piers in AIM. Many of them are steeped in debt with ratios off the scale. Some have had no option but to take on spiral finance or "Senior Debts" where non-payments could lead to their assets grabbed by the lenders. Very risky! Prem does not fall into that category and the BOD have no intention of leading us there.

legal experts and the Nomad will have advised Prem's BOD what course of action to take with the Government on RHA and that's exactly what Prem is doing. The timing of an alternative approach with the Government in the unlikely event it comes to it is not now. More patience and tenacity if what's called for.

AIMHO

GLA all genuine holders.

Longlad thanks for sharing the information.

I don't need to know you to believe it's genuine. It fits completely.

GLA

Thanks Wolframite. I accept my posts won't always be to your liking. I wouldnt really want them to be but hopefully they'll always be of interest just as yours are to me.

GLA

Johnost from an analytical perspective Prem has to be a strong buy surely. I'm probably uderwater more than most but I have difficulty standing in judgement of anyone without knowing sufficient facts.

I actually see all the criticism of George Roach as negative energy. I see him as serving a very short term and then either taking a non executive role or not being around at all.

AIMHO

So setting up an action group to oust him is likely to be a complete waste of energy.

What I dont get is why genuine shareholders appear to want to repeatedly rubbish their investment.

So we heard today that Prems proposal to restructure RHA wasn't on the Cabinets agenda for their meeting yesterday. To be honest I only half expected it would be given they said at one point it would be considered early December.

Apart from the Nomad expert lawyers are sure to be advising Prem BOD's how best to deal with RHS's restructuring quest.

It's armed with that advice that the BOD have decided to continue negotiations with the Government until a final position is reached. Whatever that may be and it may not be as simple as a "yes" or "no" to Prems proposal.

Even if in the unlikely event Prems proposal is rejected liquidating RHA may be the only or best option.

I doubt I'm anywhere near as highly qualified as the lawyers advising Prems BOD's but it seems to me the Government really have little choice but to agree to amend the old Shareholder Agreement. It needs to be brought in line with the new Indiginisation Laws incorporsted into the new Finance Act and the Governments new policies. Exactly as Prem are proposing otherwise the a Government run the risk of placing themselves in breach and that's something they'll be very keen to avoid.

As it stands the original SA has become unlawful and it may only need an application to the courts to get them to "determine" or "stand down" the Agreement on the basis that's it's unlawful and therefore must be void and cannot be enforceable.

That's all might take but from a commercial perspective keeping the Government on side and supportive is much the better route until its run its course.

So for me I believe Prems BOD are doing exactly the right thing until they reach finality. As I see it it's a question of when not if and the ficus should be to bring it about as quickly as possible .

AIMHO

GLA

MrMagoo31 GR did say in the Vox podcast that the next Cabinet meeting was in the first week in December you're quite right.

However he made the interview on Wednesday 21st November.

The following day the RNS updated his statement and said that the Cabinet meeting was sceduled for early this week.

The Cabinet meet every Tuesday i.e. tomorrow. viz:-

https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=2ahUKEwjd86aT1uzeAhUlKsAKHVr7DmoQFjAAegQIARAB&url=https%3A%2F%2Fwww.thezimbabwemail.com%2Fzimbabwe%2Finaugural-briefing-on-cabinet-meeting%2F&usg=AOvVaw0v9Etw_M4fPG-ipxJo5JkL

GLA

Jeremiah99 no doubt you know this but Zimbabwe is affected by the El Nino weather system every year and it's that causes the wet season. Washington Zhakata, who heads Zimbabwe's Climate Change Management Department, told Al Jazeera that once an El Nino sets in thi year, depending on its strength and nature, the chances of low or below normal rainfall are between 50 and 65 percent which is interesting..

Please DYOR but I believe the plan on Zulu is to drill during the wet season and perhaps the weather forecast played a small part in it's planning.

One of the first jobs we're told will be to build hard access routes and hard-standings for the drill rigs to enable them to be mobilised and operated throughout.

Most of the drilling for DFS will be done using normal diamond drills so it shouldn't be too much of a problem to mobilise those rigs. But the DFS will no doubt call for a number of boreholes to be sunk too in order establish the water table at various locations and although they will need a little more attention they should still be manageable.

This might give some idea how it all works now.

https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=2ahUKEwjd86aT1uzeAhUlKsAKHVr7DmoQFjAAegQIARAB&url=https%3A%2F%2Fwww.thezimbabwemail.com%2Fzimbabwe%2Finaugural-briefing-on-cabinet-meeting%2F&usg=AOvVaw0v9Etw_M4fPG-ipxJo5JkL

I'm pretty sure it isn't randomaxe.

Newco may get back to that and then some on Zulu's DFS.

randomaxe the Cabinet are meeting tomorrow and it should be on the Agenda.

The Cabinets findings are made public on Wednesday I believe but Prem may hear shortly after the meeting ends.

I think the roller coaster may run on for a few years yet if things go to plan but no doubt you'll be able to jump off any time along the way.

NaPoM nice reminder! Thanks.