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Their selling has been the thing driving this down. Unbelievable.

They chose to do it on the Ftse aim exchange.

Paul Baay and two other directors selling shares at 54p.

Not a good look.

Acker,

Very odd view to take. Thought it very good myself.

Did you sell down then?

Still no valid reason for the onshore puddle chasing.

Still no farm-in.

Let's see what contracts they manage to get… if any.

No Tr-1 yet.

It's almost like GR didn't do an interview four days ago.

These parody accounts…

It's great to see Gill on the PR campaign. But after such a long silence and previous misleading ‘this time next year’ Esq statements, the shine is wearing off.

I can't be the only one who sees the cash on hand getting thin.

No word of the £2m cash from the deal that's to be signed off - And now suddenly, Gills is on a PR push with nothing new to say…

Share raise incoming?

At a 30% discount, that is around 7p

Let's wait and see…

You’re not good at this, are you Jaglith.

Go and do some research, come back and tell us all.

The Canmax deal has a long stop date of 1 April 2025.

If Prem produces zero product by then, in the worst case, Canmax can pick up a direct interest in Zulu lithium at a project valuation of £160m. Canmax would be due around £41m with interest. Gaining 25% share in Zulu.

So the failure valuation for Zulu is £160m, no plant, no EPO, no RUS. That’s 0.63p per share.

Note that in negations, Canmax have gone for the asset, and the best deal they could get in a failure scenario is 25% of a project failure valuation of $200m.

I’ve also pointed this out before, but the power spammers like to ignore it:

Canmax can take the £1.5m, which is deducted from Prems pre-payment amount. So, a Net £0 transaction for Prem. Money out: Money off the pre-payment amount.

Or the most likely option:

Canmax takes shares at 10% below the 20-day VWAP. Most importantly, there’s a floor price on this: 0.32p. That’s rock-bottom for set for Prem now.

Production- My thoughts:

GR confirmed that the sorters are producing grades at 4-5%. That’s saleable spodumene, so the worst case is to turn off the float circuit, bag it and sell it.

Canmax does have the capacity to refine that. If they don’t want it, others will. The profit generated will be used to pay down Canmax and rectify the plant (For clarity, I can’t see the flotation circuit not working as explained before).

It’s also worth looking at other Lithium mines that haven’t been developed and what they sold for. It will cheer up a few on here, I’m sure.

I’m sure you’re a parody account now, Acker. Seeing you reply to my post made me smile this morning.

You’re a one-person living irony. I’m sure it brightens most people's day.

Fyi- The accounts are for the whole business.

It was good for you to provide your more ‘nuanced analysis’ for Prem's ops - Bronze Star type stuff.

The chances that money will be raised for other ops, before Zulu is cash-generative, at this point is as likely as Raaydaar penning a post that has logical continuity.

This is business, not La La Land.

Remember this quote? “obviously lack the general IQ/business understanding….”

Carry on ACKER!

The Prem BB - A place where patience, common sense and business understanding takes a back seat.

It's like watching a baker preparing dough and, because it's not bread yet, declaring they'll never bake a loaf.

Rome wasn't built in a day, and lithium plants aren't either. Technical hiccups happen, but that doesn't derail the entire train.

Take in mind, these ‘reality-lacking’ accounts were saying all of this about the new mill. ‘It won't work, they won't get it in on time and other such childish nonsense.’ Notice the silence over that now?

It’s the same nonsensical argument/s every day/week. Only over time, as things are completed there’s less straws to clutch.

Thier argument can be summed up as such - ‘They won't do it.’

Unfortunately for them and fortunately for investors - This is science and engineering. Not hope and magic. Production is inevitable.

Hence, one of the largest lithium refiners in the world (Canmax) is buying Prem up.

For perspective, Ford recently signed another deal with Canmax.

I’m humbled Acker, what servile adoration from such a prolific and scholarly poster. Stick around; I‘ll educate you.

You can buy me a drink after production of SC6 is underway, and I’ll enlighten you as to why it was inevitable.

I’m curious, did you read something that resonated with you in that statement? What was it?

With that said, please don't clog up the board with praise for me- It’s best to keep to company-relevant information.

The £600k raise misstatement is an excellent example of the common sense/analytical powers of specific BB power spammers.

I’ve put in a previous post the general/logical cost outlook, previous cash burn and Prem's strong cash position.

Those jumping on, flapping about and doom-mongering over the blatant £600k raise misstatement obviously lack the general IQ/business understanding to recognise what an obvious misstatement about the company looks like. They actually present far worse misinformation themselves (Knowingly?).

If they can't spot such glaring errors against the real world, woe betide the more ‘nuanced’ analyses they clog up the board with, etc.

Well, I picked some up at around 41p.

I’ve had this company on my watch list for a few years- The accounts are a textbook quality company. Very strong cash position to see it through the recession. High Gross, Operating and net margin.

Consistent high growth rate - Until now, but it's a recession, what does one expect?

Hold for a few years, and I think this will again shine as a quality compounder.

A new product pipeline is also on the way.

If it was a Tr-1 holder selling, then a strong rebound should result.

I don't make short-term price predictions Jaglith, it's a fool's game.

What price do you predict?

Acker, the self-contradiction and irony in your reply. Hilarious.

You’re a joker if nothing else.

Running on fumes…

The trolls, that is.

Prem has gas in the tank and is full speed ahead.

Martinigirl - Shaken and stirred.

Raaydaar- Has gone off the radar in search of more liable statements.

Acker- Intensly upset with GRs choice of polo shirt.

And

Jaglith - The amature shorter, going all in on the Prem rebound. Baffled that his made-up numbers didn't correspond to reality.

Great interview,

XRT & UV sorters are working well.

Plant running. GR happy with seeing good result coming out.

Looks like expansion is on the cards.

The on-site lab is up and running. Good to see the test process, mimicking the plant has produced very good grades. No surprises though. Independent tests were 6.5%. That's the chemical regime worked out for the float circuit.

D) Meeting targets

1. I 'believe' that, given the recent updates, they will. It's a possibility they won't.

2. If they don't, I'm not concerned. The cash position is good and I don't see a possibility of the plant not producing the grade and qty for the above-stated reasons - I've actually never seen a flotation unit not work once optimized - Has anyone? If so, can you give an example? 

3. Raise: Also not concerned, the market cap is £100m+. Any pre-revenue company will need to raise cash; that's the point of these markets. Can you find me a pre-revenue company that isn't at risk of raising money?

4.  A raise, should there be one, will be value accretive, as have been the prior raises for Zulu , but when SC6 is produced and in qty then it will be at a higher price than current, and I agree with Acker in that case, likely Dec.

5. My view is that there won't be one, but I agree that it's a possibility. I'll happily support one, but I think Canmax would support again. 

Performance:

Prem is significantly undervalued vs. non- producing and producing peers. 

For example, you could invest in ALL at £168m Mcap and nowhere near production. 

Prem has compiled a plant in a remote location in 1/4 to 1/5th of the usual time. That's quite incredible to those experienced in mining. Even with the commissioning problems, it's still well ahead of the curve regarding typical timings.

Prems assets have yet to be fully explored. Significant upside remains just on Zulu resource estimates.

Canmax has chosen to back prem; I don't see many £B+ companies taking significant stakes in Aim-listed equities.

I've followed prem for many years and am fully aware of the company's history and PR. I've chosen to invest now because of the significant discount, a solvable problem, the inevitability of production, and where it is in the asset/risk cycle and valuation.

As stated before I expect an update earliest at the end of Oct. There’s no advantage in rushing out a legal document about grades and production before full optimisation has been finished.

I'm here because I've looked into the company and see it achieving a higher valuation. A typical reason. If you don't think that, there's no reason to be here, but many have told you that already, and you persist with utter nonsense and often liable claims—utterly bizarre behaviour. 

Again, the numbers are from the accounts Jaglith; there is no debate. As usual, you made up some indefensible nonsense—end of the conversation.

How I see it: 

a) Costs

1. The avg cost per month for H1 was ~ £1M 

2. GR noted that £4m was enough to take the company to Q1 2024 

3. Sep -Dec = 4 months X £1m = £4m 

4. GR statements make sense in light of the accounts.

5. IMV H1 would have been more costly for exceptional and unpredictable items during the plant build. 

6. STARK is paying for the remedial cost of the plant. Prem is paying ongoing OPEX

Prem then raised another £5m with backing from CANMAX.

Hence, Prem is well-funded to meet production targets, even if delayed. 

b) Missed deadline.

1. Prem can pay £1.5m to CANMAX, which is then deducted from the outstanding pre-payment from CANMAX.

2. Or CANMAX can take the £1.5m in shares at 10% below the VWAP(Volume weighted average price, I think from the last 20 day period)

3. £1.5m was accounted for in the raise.

c) Grades

1. In the link from the other poster, GR confirmed that the sorters provide feed grades of 4-5%. STARK re-iterated this in a press release. Let's wait and see in the RNS or interview.

2. Flotation: The plant had problems due to the feed sizing. To float off the mica, the grade size has to be uniform size - This has now been resolved with the new mill.

3. Stark has notified investors that the plant is now successfully floating off mica and producing spodumene.

4. Stark notified investors that the plant performs within its specified parameters against the laboratory tests.

5. The tests were by two independent companies and were in an RNS - https://www.lse.co.uk/rns/PREM/zulu-update-pozksxpurb1lvg0.html

6. Flotation optimisation takes time - Refer to my previous post.

7. The test results were both 6.5%. Very good. 

8. Flotation circuits are stock standard. The process tried and tested science and engineering, not hope and magic.