Premier African Minerals Share Discussion Threads

[tedoby2] 15/5/2019 19:01

Val if you honestly think the next step is an RNS that tells us the $6m investment has been cancelled you're more naive than I give you credit for.

The Government are unlikely to invest in RHA without some appendices being in place that facilitate post contract governance.

I can't say for sure but it's not unreasonable to imagine the Government needing a statement on how the $6m will be managed and who will be managing it. What the $6m is for and an analysis of the costs in elemental terms. A further cost analysis in currency terms with there being at least three currencies in the mix. Cash flows are also likely to be required for the investment period and more importantly a mechanism for reporting against all these aspects.

Again I imagine you will know this but since the MA execution Prem as Manager under the MA will have been busy preparing these appendices for the Government to agree and incorporate.

I'm guessing it's a process that could perhaps take around four weeks or so. Right now I would say the balls in the Governments court and subject to their workload could be concluded anytime soon.

To imagine there's a problem with the finance is naive and far too premature.

AIMHO of course.

[tedoby2] 15/5/2019 18:40

Val you make things too difficult to follow. Especially for a simpleton like me! Ha. ha.

I'm sure you know this but there are two types of breaches of contract. One is a material breach and the other a repudiatory breach which in terms is far more serious. A repudiatory breach gives the aggrieved party a choice of either terminating the contract immediately or to affirm it.

Most often it's not in either parties interest to pursue a presumed right to terminate through the courts for validation. It's too long winded and expensive. The 80/20 rule of sensibility often applies. In other words if it's likely to cost £80 to get £20 why bother.

So with this in mind and you can relate to this why do you say an alternative driller is not an option?

[valhalla2017] 15/5/2019 16:54

So I heard through the grapevine that GR is meeting with that rubber jacket company next week to talk numbers. Once we can secure a steady supply of rain jackets (at a significant discount due to our equity position in the company) I think the brakes are finally going to come of the share price and this will fly.

the only small issue with taking the equity stake in the rubber jacket company is that it might delay the release of the annual accounts. at this point the only entries are GR's salary and his travel/hospitality expenses. but I think getting suspended for a third year in a row is a small price to pay for the significant savings we will have on the rain jackets.

[valhalla2017] 15/5/2019 15:02

Bull - I'm honestly thinking that might be the case now.

The problem is what does GR do now to continue to collect a salary. PREM is short on cash and he was hoping for a mini spike last week so he could do a placing. No spike, no placing, so not sure where that leaves GR...Maybe this is why he's trying with all these Circum 'discussions', trying to manufacture another mini spike....

[the bull] 15/5/2019 14:34

I wonder if the next rns is cancellation of the $6M deal with the zim government

[gaddy88] 15/5/2019 13:36

So much agreement with that statement. Shambles this stock has become

[the bull] 15/5/2019 10:47

GR should take an immediate salary cut and I don't mean reduced and then paid back later or in shares. £30K is about right for now until he can prove himself. Its getting to the stage when the whole board need to be sacked and shareholders appoint someone to find out the true state of the company.

[valhalla2017] 15/5/2019 10:29

ted - saw your post on lse about about finding another driller if the talks with KME fail. not sure if you've had a chance to talk to the company about that but if you haven't, then you should really do. having another driller is not an option.

like I said, the prem/kme situation is a little complicated. and I don't just mean they can't agree on a fee for the drilling....

[goodgrief] 15/5/2019 09:30

I was once duped into buying shares in this company by talk of world-class assets, unfortunately managed by a universal clown!

[aidenabettin] 15/5/2019 08:01

Going private!!!!!!!

[donald tramp] 15/5/2019 07:40

There you go another contract thats about to be annulled.

Mind you GR keeps drawing his £1000 a day, which he is very much entitled to, the guy is a genius how he has spun this out for so long, oh and let's not forget his £1000 a day travel expenses as well.

Why anyone keeps buying this POS is beyond me, but GR loves y'all to those who do 😘

[bibdaddy] 15/5/2019 07:06

This latest RNS just sums up the running of this company. If it wasn't so unprofessional it would be laughable!

[mudskipper73] 14/5/2019 22:38

Chocolate drill bits are the future

[valhalla2017] 14/5/2019 15:47

apparently Stephen Dattels out GR'ed GR :).

the whole meeting was Stephen pointing to a slide showing potash demand growing for the next 20 years while GR was point to a slide showing project lithium demand going up for the next 20 years. It was an excellent meeting by all accounts.

Let's see who GR gets to meet next week!

[goodgrief] 13/5/2019 14:10

In a previous century GR would have been selling products, probably involving snake innards, to follically challenged gentlemen from a fairground stall.

[valhalla2017] 13/5/2019 11:53

sub .10! yes! makes no difference to GR. soon he will raise the sharecap and start loaning the company from his trust. that way, shareholders get diluted but GR doesn't! and he gets to continue to collect a salary. win win for him, family and co.

[shinymetal] 11/5/2019 19:45

What are your thoughts on prem, ffwd and kefi?

[thelogman] 10/5/2019 20:50

The log is now back.

[derek0805] 10/5/2019 17:07

Lol brilliant

[valhalla2017] 10/5/2019 16:20

I'd say GR is confused about how the share price is performing after the amazing news of being reappointed to a loss making mine but he's got bigger things to think about.

Dinners plans at Annabel's - check! tickets for a show - check! drop in to SVS see about a potential raise - check!

[the bull] 10/5/2019 13:30

I think the $6M will come but quite when is the big question