Premier African Minerals Share Discussion Threads

[mhin2] 26/2/2019 14:24

Frost. GR has been problematic, but then a lot of small miners went through a really tough time, which the likes of YA used to suck out most of the value- I dont think Prem was excluded. What GR did was what a lot of small miners did. I was upset with GR- he strung us along. However unlike a lot of other small miners, Prem has some good/large assets. Valhalla, does not disagree, he, like most of us, would like them to get monetised. For me, I think things might at long last be getting moving in Zim, and commodity prices seem to be on the rise. The noises GR has recently made indicate that he is ready to start moving- the issue is funding. I await the to see what happens at RHA.

[valhalla2017] 26/2/2019 12:05

I might buy some more at 0.085 for the HBR raise. I think there is money to be made from that level. anyone who bought this morning is already down. and now that KME are block selling, this will drop to sub .10 by the end of the week. like I said this earlier, the .145 was artificial. GR tried to manufacture a small spike...

[frost1] 26/2/2019 11:45

Val has no shares in prem. He is consumed with an obsessive hatred of GR and Prem.

[mhin2] 26/2/2019 11:32

Valhalla. At what point might you think about buying some more? if you think it is going to fall back to 0.08 or 0.1, surely it would be better to sell what you have and then buy back again (to me that would be too risky given the recent announcements, and wider events)

[mhin2] 26/2/2019 11:13

Valhalla, I dont disagree. But I dont have a problem if shares are issued to buy 50% stakes in companies, providing positive progress is being made. So far, in a week we have had two positive announcements. I wish the cash situation was more favorable, and the number of shares in issue is a concern. We could do with some joint venture partners, but I imagine Zim is not the place where investors want to be. At least drilling is happening at Zulu with nor short term cash costs, but of course dilution. For me that is better than borrowing from finance companies like Darwin, Lund, Bergren, YA.

[valhalla2017] 26/2/2019 11:05

But the constant is GR. Look at today's announcement. last week, napom was saying 'DFS will be paid for by an off take agreement' while we all knew that it was actually going to be paid by dilution and retail investors. HBR will also be paid for with more dilution. GR doesn't know how to do anything else. and because shareholders don't mind the share price performance, he doesn't have to generate shareholder value cause he gets paid irrespective of performance.

Today's raise was at .145. if I said that two years ago I would be called a troll. And today? People barely shrugged. and the market does not care. look at the lack of volume. The market is waiting for the massive dilution for HBR. There will be some cheap shares around then.

[valhalla2017] 26/2/2019 10:42

mh - you're telling me! If Circum ever secures funding, some of the LTHs (including me) might actually be able to sell and not at 70%+ losses. but I'm not holding out hope. now that GR is back to diluting, and napom/shareholder group are cool with it, GR knows he can continue to raise at lower and lower prices.

[mhin2] 26/2/2019 10:35

Valhalla, thats a shame- Ethiopia, and Africa and the rest of the world could do with the resource being brought on stream...lets hope they secure funding- perhaps the peace treaty between Erirea and Ethiopiua may open up funding options

[valhalla2017] 26/2/2019 10:26

Technically they hired MS three years ago. And since then had to go with a small London outfit cause they weren’t able to secure institutions.

And chatting to folks it seems all in not good among the directors / investors at circum. This is why GR has stopped talking about it. They are having issues securing financing.

[mhin2] 26/2/2019 10:11

Valhalla...it was in November that Circum appointed financial advisors to raise funds. Lets hope that they are making progress and interest can be generated in Circum shares...it would be a shame if Prems holding got diluted (thats assuming that any financing for Circum involves equity)

[valhalla2017] 26/2/2019 09:59

Last we heard there is no market. And that’s from GR’s mouth.

[mhin2] 26/2/2019 09:39

Bush, what is stopping GR from selling some Circum shares to raise cash...or do the circum shares have no market given they are not listed?

[bushranger] 26/2/2019 09:34

According to PREMs own RNS 14 FEB KME actually only turned over $7000 and made a loss of $169,000 . I quote "for the year ended 31 December 2018, turnover and loss before tax amounted to US$7,000 and US$169,000 respectively (Source: KME Plant Hire unaudited accounts)" This to me is another company on its knees. It has taken what it can get from PREM at a small premium. That suits them as they are loss making. How quickly will they sell down these shares? GR can now have the push to get naive investors to put more money into PREM so as a further raise can take place as PREMSs working capital is now next to Zero.

[doctor 69] 26/2/2019 09:32

Just bought another 2 million crazy price

[mhin2] 26/2/2019 09:26

Valhalla, I can see where you are coming from. Nevertheless, for me, Prem appears to be finally starting to make positive noises after a long time. Whether that leads anywhere remains to be seen. I am clearly more optimistic than you (or perhaps more naive). Lets see what happens in the next 1-2-3 weeks.

[valhalla2017] 26/2/2019 09:18

KME made a loss of 7k last year. This raising at a premium means nothing. One of the 10k forward sells last week and boom they are already in profit. This .145 is GR trying (and failing) to manufacture a spike. No way we need to pay 400k for drilling to a company Witt no other options. So that means they can continue selling sub .145. I’m sure that’s what was agreed between kme/gr.

[mhin2] 26/2/2019 09:11

Valhalla, the time to get the RHA deal finalized may be the litmus test of the Zim governments resolve...if it arrives sooner, and has funding attached that will be good. But as somebody on LSE said, to accept shares at a premium for drilling would indicate that some people think positive news is coming.

[valhalla2017] 26/2/2019 09:07

Doc - yeah 2019 will be great for GR and family. 300k plus expenses. And GR gets to play ceo again and travel to have meetings. Can’t wait for the UKIS where GR will spend 15 mins talking on zulu while the share price languishes at .10.
I’m still waiting for napom though. He said no raise. I think qualifies as a raise.

And mh - I wouldn’t be surprised if in the end we don’t even get the zim bonds. GR was just saying that to get some volume for this placing. That’s what he did last year with the kdnc deal. Announced it, raised and then it never materialised.

[mhin2] 26/2/2019 08:58

Valhalla, thats the thing that concerns me. Prem will only get funding in Zims new currency (of course that will pay domestic costs). However, I would think the Zim government wants foreign currency, that requires exports, so they will have a vested interest in developing such projects. Remember Zim has been courting Russia and China (Japan also I think), so a lot to still develop. Nevertheless, Zim govt. focusing on getting the economy moving and leveraging its vast mineral wealth.

[doctor 69] 26/2/2019 08:56

Six rigs are about to start drilling , 2019 is going to be a great year for prem

[valhalla2017] 26/2/2019 08:52

Doc - no they are not short sighted. They just know that dilution is the name of the game with GR. much more is coming. interesting that KME didn’t want to wait to get paid in Zim bonds but wanted US dollars which only retail investors can provide. Makes you wonder?

And where is napom. He said that GR wasn’t going to raise and was focused on value creation. Ha.

[doctor 69] 26/2/2019 08:40

Some very short sighted investors selling out .

[doctor 69] 26/2/2019 08:24

Excellent news

[valhalla2017] 26/2/2019 08:10

GR strikes again! What happened to the epo? Or rha? Oh yes, they were just floated to get some volume so GR could get the placing off. Classic prem.