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It was very difficult to buy, kept moving up and instantly into NT. The float seems to be incredibly small and tightly held. We may gap up and hit 40s tomorrow. £100m is a lot of fire power now.

Great times ahead. "Production in early 2027", that's just months away.

"These funds will enable us to accelerate exploration and development with the goal of achieving production in early 2027"

Https://www.lse.co.uk/rns/ARCM/holdings-in-company-dtkfrw4vxe4fdrk.html

Karl-Erik von Bahr taken 3.27%

It's only £217k, nothing really. Decent price too at 0.0185. Encouraging that they're happy to take shares, allows PREM to preserve the cash. A hot commissioning update should be imminent.

I don't disagree on variables. It's a modular set up, if it works more flotation plants can be added. By that point who knows gobbled up by bigger fish. Nice problems to have.

The previous peak was about £250m. That would put the share price around 0.6/0.70.

Lithium Spodumene prices are up 72.8% YTD at $2,675/t SC6.

If Zulu performs, at 35,000–45,000 tonnes of SC6 production annually, revenues would stand at $94M–$120M. Based on operating costs of $800–$1,200/t, looking at EBITDA of $52M–$84M per annum.

On conservative P/E of 8 that's about £672m thats about 1.8p-2p

The market is forward looking. On success a lot forward upside can be priced quite quickly.

This is a largely pointless conversation because it all comes down to one thing: whether the plant works. If stable spod production is achieved, the market rerates the asset and all the hypothetical takeover/enforcement theories become background noise.

Acker,

He is CEO now.

03rd Sept:

the appointment today of Mr Graham Hill ("Mr Hill") as an executive director of the Company with immediate effect following his engagement as Premier Managing Director as announced on the 27 June 2025.

https://www.lse.co.uk/rns/PREM/board-changes-utc4bg2a0n3smw9.html

Mr. Hill was most recently Chief Operating Officer of ASX and Main Listed Adriatic Metals PLC, where he oversaw the pre-feasibility, feasibility and development of the Vares Project in Bosnia and Herzegovina.

Graham Hill was appointed COO of Adriatic Metals in April 2019.

At roughly the time he joined, Adriatic Metals market capitalisation was about A$85–90 million by the end of his tenure in 2025, the company had reached approximately A$2.15 billion peak market cap around US$1.4 billion equivalent.

Acker,

Mr. Hill is expected to strengthen the Company's technical capacity and enhance its ongoing efforts to bring the plant at Zulu Lithium and Tantalum Project ("Zulu") into profitable long-term production.

Premier may also subsequently invite Mr. Hill to join the Board as Premier Chief Executive Officer.

https://www.lse.co.uk/rns/PREM/appointment-of-managing-director-9k9ovjord6vdzjn.html

Options Acker. In very simple terms.

Acker,

If Canmax successfully renegotiates and extends the existing structure, then in theory there would be no immediate requirement for Glencore or any other party to step in. However, Canmax remains a development stage prepayment/offtake partner, and even a restructured arrangement would still represent a relatively concentrated funding and offtake exposure.

The reason Glencore and others are in the frame is because, once the plant demonstrates stable, repeatable production, the company gains the ability to transition away from a single counterparty structure and optimise terms across multiple potential partners. Graham’s recent comments effectively underline this point, interested parties are waiting for proof of consistent production before engaging at scale, at which point PREM has optionality to reshape the funding and offtake mix on more commercial, production stage terms. It's not about giving the project away but scaling it.

Each positive operational RNS from here materially re rates PREM, with TR1s and rising attention already starting to reflect what’s building. They’ll likely continue raising along the way for a short while, but we’re moving into the business end now. Hot commissioning through to stable, repeatable production are the real inflection points where this shifts decisively from construction risk into execution, cash generation, and scale.

With Glencore in discussions with Graham, alongside other interested parties, the funding dynamic will clearly evolve toward a more project level structure.

Getting very close to a company defining catalyst now and the interest is clearly building.

If Xinhai nail execution, this could hit absolute fever pitch very quickly. The previous peak was 1p.

“The Xinhai flotation technology is well established and proven in comparable operations within Zimbabwe…”

Unlike the previous STARK setup, the Xinhai plant is a pre engineered flotation solution with established deployment history in comparable regional operations, effectively a proven EPC/flowsheet package rather than a bespoke ground up configuration.

The market now just wants proof of one thing, consistent production and saleable concentrate.

Wrong again. The LOI did not “expire after three months”. What the RNS actually says is:

“Premier has agreed with Canmax Technologies Co., Ltd to use its best endeavours within the next three months to have the letter issued as a binding agreement subject to pre-conditions inter alia that the plant achieves the required grade and tonnage.”

That is not a three month expiry clause on the LOI itself. It was a target period to try and progress it into a binding agreement, conditional on the plant actually performing. Discussions with Glencore and now other interested parties continue today, as confirmed by Graham on the 17th Apr.

And regarding the NOMAD point, the plant was commissioned and it did produce concentrate. The issue was that the STARK flotation plant failed to deliver stable commercial performance, after which the company issued multiple operational updates detailing the problems and remediation work. People can criticise the execution all they want, but pretending nothing was built or commissioned is revisionist nonsense.

The Glencore references aren’t some fantasy wishlist people on forums invented. There is an actual confirmed LOI in place, and Graham has since reiterated they remain in dialogue with Glencore alongside other interested parties. So no, they’re not casually name dropping one of the world’s largest commodity traders for decoration.

AIM listed ZNWD just got a takeover offer for £57.2 million. They're not a producer. It's still an early development stage lithium project in Germany with a PFS.

A looming supply deficit and increasing prices are starting to stir the Lithium market and draw M&A activity. If the Xinhai circuit can prove succesful for PREM this will do many multiples of that.

PREM can apply for additional claims to expand beyond the current land package. Tbh they have enough on there plate. The defined resource area is only a small fraction of the total exploration ground held within the wider Zulu licence package anyway. It's huge as it is. The immediate catalyst is the plant.

Graham Hill:

"We are continuously in contact with people like Glencore there are one or two other interested parties too, they are waiting obviously for us to get this plant up and running and show that we can produce. When that happens I think our whole world will become a massive oyster."

Yes, lets. The current active Zulu footprint is only around 3.5 km², the wider EPO extension area exceeds 200 km², meaning the broader package is potentially 50–60x larger than the currently developed resource area.

First priority is to get the plant running that alone takes them to mid tier status, the game is very big if that happens. The likes of Glencore are standing by because they know the true tier 1 scale of Zulu.

Well that’s kind of obvious and basically the entire investment case. None of the upside matters unless the plant works. But that’s also exactly why the rerating potential is so large if Xinhai finally stabilise SC6 production, because the market has heavily discounted PREM precisely due to that uncertainty.

The market indeed looks forward and not back. All will be forgiven if Xinhai pull this off.

Margins are potentially very good at these prices if it goes well. At 35,000–45,000 tonnes of SC6 production annually, revenues would stand at roughly $101M–$129M. Based on operating costs of $800–$1,200/t, that points to EBITDA potential of around $72M–$93M per annum.

The plant is modular too, so additional circuits could be added. And people forget the current active Zulu footprint is only around 3.5 km², while the wider EPO extension area exceeds 200 km², meaning the broader package is potentially 50–60x larger than the currently developed resource area.

Obviously none of the upside matters unless the plant works. But that’s also exactly why the rerating potential is so large if Xinhai finally stabilise SC6 production, because the market has heavily discounted PREM precisely due to that uncertainty.