Premier African Minerals Share Discussion Threads

[valhalla2017] 14/11/2018 10:52

bull - I get your point but this time last year GR was telling the market that 'RHA was back in production and will be profitable by the end of 2017'. now RHA is still on care and maintenance and he is telling the market that he hopes RHA will be back in production some time in 2019'. How is he still CEO? and why is he still on 300k+/year? we don't need NEWCo to get rid of GR. We need the chairman to fire GR for the total mess he has created. And I'll hold in the hopes that GR is fired one day. The more I think about it, the more I can't see NEWCo passing. GR needs RHA sign-off and something public from Circum re the IPOs for any chance of NEWCo passing. and I don't think the market is confident that we will see any of those any time soon.

[the bull] 13/11/2018 17:58

I agree, the RHA ownnership has dragged on and on and he should have carried out the threat of liquidating it when he first set a deadline to do so many months ago. I can understand why he retracted that but all thats happening is that the government is stringing us along, more due to incompetence than anything tactical and missimg deadline after deadline. The trouble is maybe we need them on side. I dont know, the whole thing is a mess but thats the problem trading in africa.

But again I say, why continue to hold if you have zero confidence

[valhalla2017] 13/11/2018 16:17

Because at least now folks are starting to question GR's actions and things like this proposed deal. like I said, this is more and more resembling borderline faud. check out that latest interview today. no more mention of the legal threat. just 'more discussions'. in 20 days, GR will release another RNS stating that while DD is complete he can't move forward because RHA is still not resolved. then he will do another placement to cover working capital. GR needs to pay for those christmas presents somehow. and using other people's money seems to be his favorite way.

[the bull] 13/11/2018 15:20

Whats the point of repeating the same negative posts though Val, are you a holder, if so, wouldn't it be better to sell up if you think the company is a dog. You could then use the proceeds to buy some ftsie blue chips

[valhalla2017] 13/11/2018 15:16

I'm slowly starting to feel sorry for some of the posters on LSE. especially Napom and mal. GR has driven this company into the ground and they are talking about my past posts. it's really sad to see them so nostalgic for the past. but I think those times were easier for them when they were able to blame prem's poor performance on trolls. now, they have no one to blame and can't understand why the share price is tanking and will be testing all time lows in the coming weeks. but don't worry mal, GR is coming to do some Chritmas shopping in Dec. might even spend a few mins with investors to waffle about the benefits of this 'amazing deal' before he heads out to a dinner and a show. you should go. investors should grab a few sandwiches. recover some loses.

[maock] 13/11/2018 13:35

I agree if its valspar you are referring to. He is monopolising this board.

[dmitribollokov] 13/11/2018 13:32

Are you talking about me ? If so I'm not on LSE you muppet...and I hope you are balls long here.

[valhalla2017] 13/11/2018 13:03

no buys/ no sells. rainy season. no drilling. GR can finally rest and kick his feet up. now he's coming to London for some Christmas shopping and that's that for 2018. job well done. collect 300k.

[the bull] 13/11/2018 10:30

Is it any wonder that the government of Zimbabwe are struggling, they cant even sign off on this in any sort of timely manner, an absolute shower

[valhalla2017] 13/11/2018 09:28

Doc - The more I think about it the more this is starting to look like borderline faud with an r after the f. Doesn’t seem likely gr will get his 20 mil valuation of newco. And I have a feeling this pre-ipo raise might be from gr’s trust again. So he spends shareholder money to build up assets, then says he can’t continue anymore, devalues the assets massively, and then buys them on the cheap. And he does all of this while collecting 300k / year. In the US there’d be litigation.

[doctor 69] 12/11/2018 22:07

Valhalla As circum looks to ipo in2019 , then it may well prove a good thing to do . But agree money has been wasted . Newco is only choice

[donald tramp] 12/11/2018 17:42

Its just a legal scam this share nothing less nothing more all hidden in a web of offshore companies and assets stripped away bit by bit, then as Val has said now re-coated with a new tin of paint to lure in a fresh batch of unsuspecting PI's.

Absolute and utter con that just carries on and on in a slightly different form.

[valhalla2017] 12/11/2018 15:16

last post for today - All this time Napom felt so special getting 'one on one' chats with GR, dispensing his pearls of wisdom to members of his private group,...maybe even trading it here and there (I'm guessing but seems very likely)'. and now that GR pulled a fast one him, is looking to dilute the company significantly and reward new investors on the backs of current investors, I'm sure the private group is starting to ask some hard questions of Napom. He's sounding so desperate now posting on the LSE board. He should just go pack to posting screenshots of the Bara report. HA. such a muppet.

[valhalla2017] 12/11/2018 14:15

and there's napom trying to con people into buying the whole 'this time it's different. this time GR really cares about shareholders.' look at the share price performance since napom started his group...tells you everything you need to know....

[valhalla2017] 12/11/2018 14:11

doc - they are a private company. they can be as communicative as they want. no one forced GR to dilute shareholders and buy in a private company rather than develop our assets. I'm glad most people are seeing through this NEWCo stuff. it really is just GR trying to start diluting shareholders again under a new name.

[doctor 69] 12/11/2018 13:57

Vah The problem is circum are not very communicative

[valhalla2017] 12/11/2018 13:33

prior to the NEWCo announcement folks were saying 'i) there is no lock-in period and ii) on the off chance that there is, we should not worry because we can borrow against it'. now NEWco is announced and the story is completely changed. 'now there is a lock in period and no one would lend against it since there is no public info.'. convenient...:) HA!

[valhalla2017] 12/11/2018 12:56

remember when GR was asked on a webinar if there was a lock-in period on Circum and he said 'no'. now GR's greatest defender is saying that yes there is a lock-in period and we might be looking at 6 months. funny how the story changes. always to the detriment of shareholders though.

[ihavenoclue] 12/11/2018 12:47

Did GR issue the RNS with the low valuation to get more shares when the loan was converted?

[valhalla2017] 12/11/2018 10:43

Honestly wonder if a certain poster on the LSE board is a paid employee of PREM. No way anyone can be that positive based on the company's performance. A few months ago these posters were claiming that a JV deal was imminent and that with the cash injection RHA was going to be in production this side of the year. Now, we learn that the JV is actually just GR diluting shareholders and trying to raise of the back of new retail investors (using a new name). GR in London in early December? amazing, he'll come here, do some Christmas shopping, have one of his useless meetings at the chesterfield, have a few dinners with friends...all on the investors dime! classic GR.

[valhalla2017] 12/11/2018 10:17

Is GR getting ready to extend the DD on the NEWCo deal? looks like it! very clever by GR making the 90% of RHA a condition of moving forward with NEWCo. GR knows that the RHA deal is not happening any time soon. so he can string all this 'NEWCo stuff' along for another year or so telling investors he's having 'discussions'. then next year, boom! another 300k loan/dilution!

[ihavenoclue] 11/11/2018 20:13

Dave ... will be worth less than zero when deal goes ahead so you have to wonder.

Take 49% of RHA with a book value of $9.8m and for $800k less you get 90% of RHA, 100% Zulu, 100% other assets and the ARCM shares.

I know it has to be a lower value to get people interested but the lower it is the higher % KMA get for their $4m. Unless I am reading it all wrong ?

[valhalla2017] 11/11/2018 12:46

All this chat that is not dilutive. We are giving up ~50% of all zim assets for 10 million valuing the company at 20 million. The kdnc deal was 5 mil for 30% just of Zulu. So that’s 15 mill not including rha, the rem stuff, etc... people can spin this as positively as they want (and we kind of have to since gr has driven this company into the ground and into a corner with no other options) but let’s not pretend that this is anything more than gr putting on a fresh coat of paint on prem and trying to fool other investors that this is no longer the train wreck that is prem in its current state.