Premier African Minerals Share Discussion Threads

[feelthepain] 26/1/2018 09:45

Well you should all be OK now this will fly as I could take no more and have sold. Confidence gone!

[barnetpeter] 25/1/2018 23:10

Yes but we have heard this story below and prem is at all time lows. Reason..,massive dilution and huge waste of money. The key question here is not are the assets worth a lot which I think they are but will current shareholders see the benefits? None of us know that. Zulu may perhaps start up as a separate company but dilution may mean others get the benefit. We have all had stocks which look so promising yet we end up with 5 per cent of our investment after rename and dilution at a fraction of the price we paid. We may well see prem doing a huge fund raise sometime in the future at 25 a penny or something and wiping current holders off the map. Not selling myself but this stock has been a disaster for many pi’s that listened to this stuff and bought heavily in the primary bid placings. This need a big increase in the price just to break even ...not easy with billions of shares floating around.

[vitec] 25/1/2018 22:58

Seagull, I welcome your comments. For too long I have also been beating the drum about PREM and defending my investment decision. I am here for the assets as well. Primarily Zulu. I am heartened by the fact you attended the meeting but I am cautious about George being overly optimistic and not meeting expectations. As stated earlier I have no intention of selling any part of my stake for the foreseeable future. If George does step aside that will light the touch paper.

[seagull676] 25/1/2018 22:31

I've been a shareholder since approx June 2015 (first purchase 2.25pps) and I too have invested a significant amount. I have felt the pain and cursed the management long with everybody else, since about the time Pam sold out for her wedding. I am deeply underwater and uncomfortable with the amount I have invested. However, I don't think that particularly qualifies me. Research is readily available to any investor. The simple fact for me is that if I didn't believe in the assets, I wouldn't be here. We know that Zulu is going to be a world class Lithium deposit. RHA has been a money pit, largely due to the decision to fast-track into production. George openly admitted this at the meeting and presented the strategy to achieve profitability. Circum, we know will at some stage provide us with a very substantial cash injection. George also told us that he agreed 200% that it should be an experienced Lithium man that takes Zulu forward, whilst the jv would provide the funds and management for RHA. I came away from the meeting seeing a glimpse of light at the end of the tunnel. As you are probably aware, I rarely post on any of these forums and try not to get caught up in the constant negativity. From time to time though, I will defend my investment, as it was my decision to buy here and my decision to hold.

[jungmana] 25/1/2018 21:57

Vitec - glad to see you come to my line of thinking. This is what George does to you after holding prem for 2+ years.

[vitec] 25/1/2018 21:52

Seagull how long have you been a shareholder? How large is your shareholding? I know about the relationship and I suspect I know a lot more about PREM then the majority of the shareholders that post on here. At the end of the day the share price does not lie. I hold a significant amount of shares and it is about time I and many others saw some reward. I am tired of the "jam tomorrow" I want some jam today!

I could not attend yesterday as I am preparing to go abroad. If George is considering both options then he should have the courtesy to tell ALL shareholders. They were quick to RNS the listing of Zulu so why not inform everyone instead of those that attended a meeting.

[vitec] 25/1/2018 16:23

So RHA is a white elephant but this was always George's strategy so that he could get the other 51% of RHA. Zulu is not going to be listed as he has spoken to a close friend. Meanwhile in the real world there are 6.5 billion shares in issue with a whole raft of shareholders. I think we deserve better that this. I am still invested because of Zulu and will remain so until such time as I believe that Zulu is not going to happen in the time frames I have set.

[vitec] 25/1/2018 16:12

I'm afraid successful people make quick decisions and are slow to change them, unsuccessful people are slow to make decisions and fast to change them. George is going to be known as Mr U Turn. If that is the case why announce it to a small number of shareholders? He should be up front and RNS it that there has been change of heart and this is the strategy going forward. I am starting to think that the word strategy does not figure in George's vocabulary.

Who is this close friend and where was he when George was thinking about listing Zulu. I dislike profusely those that state they have been given advice by someone that remains nameless and faceless. What shareholders have told George to rethink? Does any shareholder honestly believe that PREM can go it alone with Zulu? Listing it separately gives it a chance to raise funds so that it can be developed. Remember 50% of something is better that 100% of nothing!

I am not surprised that the share price has gone down. George would be better NOT having shareholder evenings and concentrating on getting RHA sorted and Zulu listed (if that is the path we are going to take)

I am starting to review my position and unless I start to see some concrete evidence that holding such a stake in PREM is worthwhile then I will consider reducing the stake accordingly. Thankfully, on the 5th February I will be out of the country for 5 weeks and I have told Mrs Vitec that I have no plans to be watching any shares, so George you have about 7 weeks to prove to me and the endless number of other shareholders that you are worthy of our faith and money.

[seagull676] 25/1/2018 16:01

I think an important thing that hasn't generally picked up by investors is that he spoke to 'his friend' on a day that he had meetings with Circum and anyone who has done their research will be very aware of his friend there!

[cambradjones] 25/1/2018 15:24

Sounds simple Doctor . Lol.

[dmitribollokov] 25/1/2018 15:14

why not 50-bag ?

[doctor 69] 25/1/2018 12:49

cambra , it was very clear at the meeting

George was thinking again because
1. a close friend said think again
2. shareholders all said dont do it

all very simple

Vitec , it will take time expect it , but in the end all wil lbe good and we will 10 -30 bag from here with a bit of luck .

[cambradjones] 25/1/2018 09:39

vitecSeems to be conflicting opinions on lse about the seperate listing for zulu.A few saying gr has done a u turn and it is now staying within Prem ???

[blewco] 25/1/2018 08:50

Anybody know if there's a report or video of the meeting, thanks in advance.

[vitec] 25/1/2018 08:35

George said it was getting a separate listing.

PREM could be like the proverbial bus and issue news in three's. Expect news on RHA, expect news on Circum and expect news on Zulu. Sadly, it seems the only news the market wants immediately is for George to step aside from the day to day running of PREM.

When CEO's think of doing this they want to hand over the reins and give their successor the best start. Clear the decks so to speak. More to the point who would the successor be? If it is someone recognised within the mining community and has a reputation for getting things done and added and extracting value then personally as it stands right now that will be the best possible news as everything else can flow from there.

I am tired of saying lets see what happens over the next 2 or 3 months. George must be acutely aware that many shareholders are tired and don't want progress reports they want actual progress. I am not selling any of my shareholding but continually going from one month to the next is disheartening and I do not blame anyone for selling up and moving on. It is just when you think this that coincidentally news starts to flow. Come on George gives us something to get our teeth into. You promised a deal on Zulu last July and now a separate listing. I know these things don't happen overnight but a "progress" report at least would be comforting.

[cambradjones] 25/1/2018 08:18

So is Zulu being kept within Prem or not ???

[jungmana] 24/1/2018 19:32

My high school teacher first told me; generalisations are often false.

[andrewsr] 24/1/2018 19:31

Some explorers succeed, many fail, we're all aware of that, even if it's a revelation to you.

You're way off the mark for the RHA mine - it was an existing mine and was running until recently stalled operations to resolve the ownership and funding issue. No major would be interested in picking up the pieces if Premier were forced to walk away, which IMHO is extremely unlikely. It's only really suitable for a small operator like Premier.

The capital required for Zulu is not particularly massive and could be developed as a spudumene concentrate ($64m) by the likes of Premier. Your generalisation might be applicable for deep mines requiring hundreds of millions to develop, but it's not really relevant to a product in high demand and a very shallow deposit. A major may be interested in the lithium carbonate option if the resource is big enough, but they wouldn't be interested in a small scale spudumene concentrate operation.

Plenty of majors off-load licences which are too small for their high opex costs and are successfully developed by small operators, e.g. Hummingbird, there must be plenty others.

If a major was interested in a world class lithium resource they're not going to wait years for the existing operator to go bust or take years or decades to develop themselves.

[the bull] 24/1/2018 16:52

Mike_F, yes i know the target was 0.5M at first and they took 1M but they had to shut it off early as it was well oversubscribed indicating they could have got more. How much more only they know I guess. I would imagine most inc me are regretting participating now anyway. I just hope the next few announcements get us back to where we were

[doctor 69] 24/1/2018 16:13

Bionic , Clearly you weren't at the meeting yesterday

[bionictwat] 24/1/2018 15:00

Next week for more fundraising

[mike_f] 24/1/2018 13:14

He did The Bull, he doubled the amount!