Premier African Minerals Share Discussion Threads

[the bull] 16/3/2018 15:59

Are you a shareholder forwood or are you just trying to stir up trouble and damage the share price further.

[forwood] 16/3/2018 15:16

Sent to the Aim regulator and copied to PREM

I am assuming this company has yet to replace Beaumont Cornish Limited as its Nomad. In fact, their website still refers to Beaumont Cornish Limited.

Today PREM announced a 250m placement of shares to raise £400,000 via RNS Number : 9584H. Just a week ago, on Friday 9th March, the CEO George Roach recorded a podcast reproduced here where he specifically denied this was the case.

If you listen from 8 minutes in to the recording, he dismisses social media reports that he was planning to raise funds and says: 'I can't be doing a placement and having a conversation with you…..I'm not doing a placement at the moment. It's a Friday afternoon and I'm not going to do a placement today'.

The direct statement and overall inference of the podcast, despite the qualification of ‘not going to do a placement today’, is that he was not planning to raise funds. Just one week later he does precisely that, and I suggest he was planning it at the time he was denying it.

Following this podcast, which was widely reported on social media, the share price was bought heavily and recovered by almost 30%. I believe that his statements in this podcast constituted a misleading statement contrary to section 397 of the Financial Services and Markets Act 2000.

[the bull] 16/3/2018 15:07

Circum valuation £2B are you sure

[pwhite73] 16/3/2018 13:02

ihnc Whether 9% 90% or 900% it makes not one iota of difference. Prem will never have the resources to put any mines into production. All it can ever do is issue progress RNS announments whilst diluting the ar$e of the stock. Hang around here for another 12 - 18 months and see where this share price is with or without a consolidation.

[barnetpeter] 16/3/2018 12:56

LOL the price is now 0.18 and a bit...an all time low. Another 250 million shares have been dumped and there is no news on any of the assets.

I am well down on these as is everyone. George is hopeless and staggers from one disaster to another. Millions have been lost on rubbish.

It will be a MIRACLE if we get our money back. A write off is more likely.

That is an HONEST assessment of yet another prem placing. What is this? 12 in a year?

This is AIM and we have useless CEO. We all just picked a dawg.

[ihavenoclue] 16/3/2018 12:44

You call me the idiot yet I knew something was going to happen and you didn't. So who really is the idiot? lol

[forwood] 16/3/2018 11:45

Reviewing your idiotic comments ihnc on this occasion, a Nomad is distinct from a broker. Beaumont was both. Prem website still has Beaumont named as Nomad. There has been no announcement to the effect that anyone else has been appointed and LSE must approve such an appointment.

[forwood] 16/3/2018 11:42

I quoted the podcast verbatim. Listen from 8 minutes in at

He said two things: 'I can't be doing a placement and having a conversation with you .....I'm not doing a placement at the moment.... It's a Friday afternoon and I'm not going to do a placement today'

If anyone thinks that is not a clear steer that a placement was not being planned or considered, they are a moron.

[doctor 69] 16/3/2018 11:18

I have no clue : fair comments

[ihavenoclue] 16/3/2018 11:01

Bill... We are moving towards 90% of RHA. Talks ongoing with drilling company for next round of drilling - when these are commenced we are then 10 - 12 months away from Zulu DFS (And, let's be honest, that's what LTH's are in for)Today was a step towards RHA 90% and JV. It needed to happen and who can say removing the shackles of Darwin isn't worth it?I have taken an 18 - 24 month hold view here so I see today as a step towards the final goal :)

[billthebank] 16/3/2018 10:43

CIRCUM $300M plus
RHA $40M
ZULU $80M

Our C/V £15M and falling. WHY is this the position?

Is it because ZULU is a long way in the future.
Is it because those discussions (serious and meaningful ) havent moved forward?
Is it because there is no confidence in GR
Is it because shareholders are concerned about more dilution
Is it because CIRCUM is just another Manjana project?
Is it because of the uncertainty re the viability of the open pit mining at RHA
and maybe it is viewed presently as a white elephant?

Well those are all the possible reasons for the share price being where it is at presently.

Hopefully things will be clearer in the next 12 months but then again where have I said that before?

Hey guys my glass is half empty this morning can someone please cheer me up and counter all of the above as I wasn't to be told that is a load of old tosh!!!!!

[ihavenoclue] 16/3/2018 10:39

Bill... I agree it is a positive to get rid of Darwin. Also 6.5b to 6.8b isn't much of a difference.It's just the people who assumed what was said in a podcast, instead of emailing for clarification, who are now getting their pants in a knot.Maybe now any positive JV news will have a proper rise instead of being shackled by Darwin?

[billthebank] 16/3/2018 10:32

Just listened to the Podcast I cant v]be doing a placement and doing a podcast with you. It is a Friday afternoon and I am not doing a placement today!!!! WTF!!!!! Still great to get rid of the Darwin warrants

[forwood] 16/3/2018 10:13

In this podcast on 9 March Roach denied that Prem was planning a placement and said 'I can't be doing a placement and having a conversation with you .....I'm not doing a placement at the moment.'

How could he not be planning this and 7 days later announce: The Board of Premier African Minerals Limited ("Premier" or the "Company") is pleased to announce a placing today to raise GBP400,000 before expenses at an issue price of 0.16 pence per new ordinary share, the net proceeds of which will be used to cancel all the existing warrants held by Darwin Capital Limited ("Darwin") and for general working capital purposes.

So his statement on 9 March looks to be a barefaced lie and I think merits complaints to the Nomad or LSE. The Nomad was Beaumont and as we haven't had an announcement on a replacement, it should perhaps be the LSE. Is Shore Capital now taking that role?

The dedicated LSE team has a page at where they say: 'You can contact AIM Regulation preferably by email on [e-mail] or alternatively on [phone].'

Am now concluding that Roach should step down, in the interests of the company. Am sure it would improve the share price considerably were he to do so.

[tidy 2] 16/3/2018 09:18

Yep PREM has no chance of success at all. Sell dreams to the naive, break hearts and Destroy family savings.

[doctor 69] 16/3/2018 09:14

Pwhite , you are wrong ,There is a distinct plan here for prem to succeed . I take it you did not go to investors meeting

[jungmana] 16/3/2018 09:06

A reminder there of the fundamentals of Prem

[jungmana] 16/3/2018 09:03

We all know the history here and much of the blame for collapse in share price and sentiment over last 4 years goes to GR.I have on many occasions criticised him on this board and in my communications with him.Despite all of that todays market cap of just £13m does in any way reflect the fundamentals of the company.

[jungmana] 16/3/2018 08:59

Pwhite - i should have explained further. What i meant was Darwin have been suppressing the share price over last week since GR made it known that we are getting 90% of RHA soon there has been an increase in buying but not much share price increase.

[billthebank] 16/3/2018 08:55

I think from memory last year he promised never to use them again