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"extra temporary cash if needed - which it probably isn't anyway." Of course they need cash, they had 30k on their balance sheet for their audit, the last dilution didn't touch the sides and it's simply not viable for them to dilute again any time soon. Add to that they have a creditor banging on the door demanding immediate payment. They need additional cash and they need it fast though agree that it would seem daft at this point if Canmax didn't foot the short fall. Unless they know something we don't i.e the plant isn't viable. We'll have to hear something soon as obviously the long stop runs out in little over two weeks.

He also said there is no guarantee of making them longstop. The SP is irrelevant right now. The only thing that matters is getting the correct grade and recovery. It the happens the rest will follow. Of course there is the small matter of funding which imo has to come from Canmax as the SP wouldn't produce enough from dilution; at least not in the long term. It's on its last legs as is it. How many more dilutions before complete collapse? One, two maybe and that's if they weren't flagged by AIM under rules 16 and/or 29.

Your comment has no relevance to my post. My post was about the RS and nothing to do with Prems chances of producing. Maybe you've commented on the wrong post.

I'm a forensic Psychologist so, my job I guess. Though if you mean the extra money then who knows. Though let's get it fully producing first.

I bought Prem Feb/March 2020

There is nothing to update. Glencore are crystal clear on what they require in order to sign and until Prem can do that there is nothing to "talk" about.

You obviously can't read or you wouldn't have made that statement. Shame really.

Prem has far too many shares compared to companies of similar size. Therefore, it’s possible AIM Regulation issued a "comply or explain" reminder before the "vote" at the AGM. Reduce your shares or tell us why not? It's possible Prem delayed in the hopes that they'd be further along by now, hence they missed their own self imposed deadline. Though they are not and the LSE may have leaned on them, thus forcing them to act, which would explain the odd timing.

To be clear, comply or explain notices are not about the amount of shares per se but about governance and board control. It's likely the LSE saw 86 billion shares and were like, something isn't right here, why is it so high and why does it keep rising? That many dilutions almost certainly raised a red flag.

Another valid concern among many is — and will be — that they consolidate and dilute immediately after, though it's highly probable this would flag AIM Rule 16, meaning it could be deemed detrimental to the market and/or investors. Basically, you've just consolidated and now you want to dilute? Your SP is already fragile and we've just asked you to tighten up at board level. So if they try to dilute immediately after consolidation, in my opinion, AIM Regulation could block the dilution, or at the very least delay it until the company is in a stronger position.

The irony is that Prem has little to no chance of growth or ever being taken seriously without consolidation, and although it’s a good starting point, they will eventually need another consolidation. My personal guess - all going well - would take place in the summer. A second 10-1 consolidation (after the current one) would bring them to approximately 860 million shares, which would position them nicely with companies of similar size and calibre, making them more attractive to institutions and off-book investors.

Canmax aren't equipped for the every day running of a mine. That's not what they do. They are also not going to put any more money in given how much they are already owed. Untill the longstop extension on the 31st December passes they cant really do anything.

Yeah I'm on the same boat and it is super frustrating though at the minute they are still optimising so until they decide to book the third test run there isn't really anything to report.

The last test runs have been funded through dilutions as stated in each RNS.

We already know how dire things are. The information isn't hard to find. Let's be honest, we don't need a financial report either, we know prem on its arse. The RNS is merely a formality to satisfy LSE regulations. It will come as a suprise to nobody. That said, I can't see Canmax going beyond the 31st December long stop.

The last two tests have been funded through dilution. It wasn't good will.

Erm, why would they? Though without an externally verified test Prem isn't going to get an LOI from anyone. Therefore not only do they need a third test, they stated this as there intention in the last RNS.

I think many have confused optimisation with a test run. Untill.they book a third test run with the OEM there is simply nothing to report.

Hopefully they will book a third test run in the very near future with the OEM as optimisation work continues. Contrary to popular belief, there is no ongoing test run. When there is one scheduled, they'll announce it like they have the last two. Though it's clear the 150,000,000 off-book transaction has thrown people and given a lot the impression something is coming.

Alsomjeed also need to factor in any potential institutional re-rate if the plant officially moves out of cash burn.

Video?

Nah, just alot of people reading the last announcement a positive when in reality it's nothing new.

It's been up and down all week. Nothing to get exicted about.