Premier African Minerals Share Discussion Threads

[seagull676] 08/11/2018 20:02

Confirmed in letter from George, Bill.

[valhalla2017] 08/11/2018 19:43

I'm also starting to feel that a few of the posters on the LSE board are paid by prem. no way can you stay that positive in light of everything that GR has done to destroy shareholder value. it's becoming comical. but at least they are making money on prem. barely anyone else is...

[valhalla2017] 08/11/2018 19:37

doc - so why can't prem just buy KME for the 4 million if they want to bring it in-house. that would be the simplest route. but GR can't do that since he can't raise 4 million with the current state of prem. so all he can do is this NEWCo thing so he can raise it off new investors while diluting current shareholders. it really is just that simple. this NEWCo is the same thing as him trying now to raise the sharecap, doing a placement and trying to buy kme.

[doctor 69] 08/11/2018 18:47

bill etc

i think to get the drillers to join in a group is excellent idea and we will see a rapidly quicker result

[billthebank] 08/11/2018 18:33

I can't find that connection.How do you know this?

[seagull676] 08/11/2018 16:46

KME used to be Afmine (the contractors that we were previously using at RHA)

[jungmana] 08/11/2018 16:15

How many podcasts has GR done in the last 5 years? At least 50 . And has he delivered on even half of what he said in those podcasts? No! Judge the man by his deeds not his words.

[aidenabettin] 08/11/2018 16:10

I will take Circum for AFPO(BLCC) and AAX as we require copious amounts of POTASH. .I was ridiculed for saying BUY BUY BUY AFPO..Nobody will be ridiculing me shortly..BUY BUY BUY TSI

[billthebank] 08/11/2018 15:43

Do you know what Doc I can see that but I want more info re KME Holdings inc Due Diligence I want to see George going into the sunset and CIRCUM tied up but if it makes sense you might be right but this is deffo a risky venture

[valhalla2017] 08/11/2018 15:43

GR should be just save us this song and dance and just rename PREM and raise the cap to 20 billion and raise the 10mil to pay for KME's equipment/working cap. This is in essence what he is doing. expect he can't raise the cap so he is trying to con people into believing this NEWCo is something else. it's not. it's just a prem placement under a new name. the name change option will at least be quicker and less drawn out and give less of opportunity for GR to collect 'consulting fees'.

GR can only do only thing and that is dilute shareholders. he knows nothing else. and that podcast was rough. GR was visibly annoyed that he was getting asked questions on shareholder value. but i can understand why. GR doesn't care about shareholder value since he's pulling in 300k/yr, travelling on the company's dime, going out for dinners etc...

[doctor 69] 08/11/2018 15:32

we have to vote for this and i reckon it will coem good

[billthebank] 08/11/2018 15:27

I listened to that pod cast

1 KME Holdings are a private limited company based in Zimbabwe as are that management team
Searched but I can't find them} WE NEED MORE BACKGROUND INFORMATION
2 The Zimbabwe Govt have us over a barrel IMO I reckon they are driving the Zimbabwe company to control the new company
3 The new company will preferably be listed in London
4 George believes that this is the fastest way to bring RHA into production
5 Owning less than 50% of RHA is a major hurdle
6 The new co will only exist if the shareholders agree and also The Ministry of Mines lets the New company have 90% shareholding
7 The shareholders anger George believes in part is down to ''a lack of proper explanation from himself''; plus shareholders not understanding the rationale behind what Premier is trying to do. HMMMMMMMMMMMMM!!! Read that twice.
8 This deal will substantially reduce costs in getting RHA up and running including work on ZULU
9 Due Diligence will be required on KME Holdings Assets
10 There will be a new management structure (Not certain that George will be a part of that!!}
11 George has a sole shareholding worth £0.5M in Premier
12 George agrees that the valuation of ZULU and RHA are too low
13 Circum is worth $25/share presently valuing that company @ $6.5M
14 IF George is no longer part of the exec of PREM (Is he being ousted?) then it is clear he would not want CIRCUM to be included in The aforementioned ZimBabwean assets
15 Any other assets e'g' ACRM and TCT and anything I have missed should be included in our new shell
16 Lastly I do not see how George could move CIRCUM shares to himself. If that is possible and this deal needs to go through then this should be tidied up before agreeing to the deal
17 Financially
Prem puts in its Zimbabwean assets we get 80% of the new company inc all of RHA
KME Holdings puts in its mining assets They get 20% of the new company. KME value those assets at £4M
Zimbabwean Govt have 10% of RHA

The new management will raise £6M for working capital purposes

There is talk that Premiers Zimbabwean assets are pres worth £7M I disagree and I believe they are valued at £16M

Overall we will have shares in two companies
CIRCUM valued at $6.5M
NEWCO worth £26M

At present Premier is worth £11.6M

I believe that is where we are

Now if we can as shareholders obtain satisfactory answers on all of the above then why wouldn't we agree after all what alternative do we have if the Ministry of Mines a re the puppet masters????????????

[the bull] 08/11/2018 15:25

This meeting I guess is likely to be held in the new year?

[the bull] 08/11/2018 15:23

I hope the general meeting is in the UK and holders do attend with an open mind. I am minded to accept this plan should it proceed but want holders to ensure that PREM becomes an extremely low cost entity whilst in its shell state. Maybe one or two shareholders would be willing to be a non paid non exec if that is possible. We dont want high salaries being drawn or converted into loans so that when the circum money comes, a chunk goes to the BOD

[the bull] 08/11/2018 15:20

You have zero interest in the company succeeding so what you think has no relevance whatsoever. May be you got burnt here before, quite why you post here nobody knows.

[dmitribollokov] 08/11/2018 15:05

What is the betting that the meeting where you can vote is in guernsey.

JW actually did a good job there, you can hear how annoyed GR is, whilst trying to sound calm. Snorting licking his lips short breath etc towards the end...feels like he is getting found out.

[the bull] 08/11/2018 15:00

www.voxmarkets.co.uk/articles/premier-african-minerals-john-meyer-on-krs-and-chris-bailey-on-brby-sbry-hfd-sdry--43fd861

[dmitribollokov] 08/11/2018 14:54

Oh dear...

Got to love that his investment vehicle is called 'Cocroach'...

[doctor 69] 08/11/2018 14:43

Good podcast .Just bought some more . This Newco will own 90% of rha , so really this deal is not bad at all . Faster to get rha going Faster to get Zulu goingCheaper to drill Keep most of rha Dilution yes , but we always were going to get some at some stage .No Dilution of circum I think once the market understands this we will be good .Others can interpret this differently , but that's life

[buzzarn] 08/11/2018 13:46

Prem on vox podcast today

[quazie12] 08/11/2018 13:10

Wtf are you talking about. Sorry but I aint been on here spinning GR's moves.

[valhalla2017] 08/11/2018 12:59

the buying is relentless!!! GR has truly pulled off a blinder. LTHs have been rewarded for their patience over the past years. today is the first day of a new dawn. and by new dawn I mean that this is when new shareholders can start supporting GR's lifestyle...since I can't imagine any LTHs seriously putting in any more cash into this. And GR - keep cashing them cheques! yesterday the share price crashed 36%, GR collected a cool 1k. today, volume is dead, GR collects another cool 1k. tomorrow, doing a webinar, another 1k...

[aidenabettin] 08/11/2018 10:35

Maybe it was KKME they used. TSI have a 22% stake in KKME

[valhalla2017] 08/11/2018 10:30

I have a feeling that KME were the old RHA contractors we used. these are the guys that misled GR re profitability and were not able to deliver on any of the targets in 2017. in 2018, GR rewards them with 4 million dollars of shareholder cash. how is GR allowed to continue doing this?

[jungmana] 08/11/2018 10:11

Quazie you have been here a number of times in the past putting a spin on anything George says.Why no mention of Arc interest , TCT interest, Togo and Benin licences in the rns? Or are all those no longer Prem's?This is what you should be asking.After the demerger all prem will be left is circum. And with time shareholders imo could end up losing that too.