Premier African Minerals Share Discussion Threads

[andrewsr] 23/8/2017 08:35

I think what is already known publicly is sufficient justification for the purchase.

[edgein] 23/8/2017 08:31

Dmmitri,

Don't have to keep telling myself that at all, its all in the RNS and presentations. Zulu was 20Mt of ore when they drilled 35% of the known strike. Through infill and expo they now believe its up to 80Mt of ore. But then they made an additional discovery in the SE which they now believe to be bigger than Zulu. So they needed to raise £4.8m to get a second rig on there and go all guns blazing on Zulu over the next 4-6 months so that our new partners have to pay a suitable price for a 80-160Mt+ asset. That's whats going on now. So yeah these funds are going to be put to good use and highly valuable. So George cannot just lump all his cash into Circum, that's the difficulty when you've two world class projects approaching liquidity events. He has to keep momentum going on Zulu as he needs to prove as much lith there asap or it could be taken out of his hands with a hostile bid. That's just the simple earthly facts.

Yeah PREM now own 5.2% of Circum, probably buy some more on the sale of the timber business. We might get a couple of % more on the cheap through issuing equity, but probably get above 10% when we get Zulu sorted and one of the deals on the table signed after many more results and assays from Zulu and Zulu SE. I bet you can't wait for SGS to get the results back from the practically pure spodumene samples taken from the SE discovery. I know I can't, but then I'm a holder and not trying to buy back in again. I guess that's why you're so vocal. :)

Regards,
Ed.

[mike_f] 23/8/2017 08:29

andrewsr, George is good mates with a couple of people at Circum. I would be amazed if he doesn't know more that what is in the public domain...

[dmitribollokov] 23/8/2017 08:27

andrew that applies to pa trading...He hasnt just done a pa trade.

[dmitribollokov] 23/8/2017 08:25

3m - really? That's a retail punt.

[andrewsr] 23/8/2017 08:25

If George is 'privy to information' he would be an insider and so couldn't trade the shares or does that only apply to individuals? I would think his actions are based on publicly available information, i.e. his assessment of the situation?

[mike_f] 23/8/2017 08:24

dmitri, sale of TCT by the sounds of it...

[mike_f] 23/8/2017 08:23

3M buy just went through, someone is confident in the story. Let's hope these assays blow us all away and give up a bit of a perk!

[dmitribollokov] 23/8/2017 08:22

Yep, keep telling yourself that ed. That's why your ceo is desperate to give away shares in that asset in exchange for a potash asset in ethiopia that no-one wants to buy (apart from him).

Meanwhile, back on earth, PREM currently own 5% of circum, they would like to get to 12%. Anyone like to hazard a guess as to how they might acquire that extra 7%?

[edgein] 23/8/2017 08:19

Dmitri,

Oh yeah PREM's cash is highly highly valuable, you realize its currently being used for infill drilling and exploration of Zulu and Zulu SE. Using a few million to prove up potentially the largest undeveloped hard rock lithium discovery in the world at a time that lith demand and price is set to skyrocket. Yeah I'd say the cash that they're putting into Zulu right now is very very valuable indeed and will come out in multiples on the sale/jv of Zulu.

Regards,
Ed.

[vitec] 23/8/2017 08:13

Bill, there was talk of Circum being sold for $2 billion dollars. What you value an asset for and its net realisable value can vary greatly upwards or downwards.

I believe George knows exactly what he is doing and is privy to information that allows him to go down this path. If not, then I would have to agree "what the hell is he doing"

[dmitribollokov] 23/8/2017 08:11

So after a year of trying, it appears that the only buyer morgan stanley could find was PREM itself...

Seperatetly - if you have cash and you make an acquisition, but fund it with shares in your company rather than said cash, it signals you have more faith in the value of your cash than your own shares. It's 101 stuff guys, let yourself see what is happening rather than what you want to see is happening. Take a step back. There have been many flags...

[edgein] 23/8/2017 08:10

Bill,

PREM raised £4.8m as a result of the RNS on the 31st of July at a price of 0.7p, they're currently very well funded at present as these new purchases of Circum are done with additional paper. Money well spent its like buying US$10 for US$1.50.

Regards,
Ed.

[billthebank] 23/8/2017 08:09

One other thing that confuses me slightly and that is I thought we needed the cash quickly as we had the option to acquire CIRCUM shares @ $1.25 but we are now paying $1.5 and we only value or company @ 0.45 a share!!! I really do hope George knows what he is doing

[cambradjones] 23/8/2017 08:06

I can only assume george has the assay results rns ready today ??? to offset this mornings rns.

[vitec] 23/8/2017 07:59

Bill, you could be right. I can't remember the exact figure. I will need to check.

[vitec] 23/8/2017 07:58

Sleveen, I should have inserted the words "could be". Apologies for the Freudian slip. In answer to your question I have been in this position personally and professionally. It is a painful position to be in. You have a great asset but no money and are unable to raise the necessary finance to see you through leaving you in an exposed position that only gives the option of selling up.

[nicosevos] 23/8/2017 07:56

The shares are already pre sold, they get the cash on the 29th.

[billthebank] 23/8/2017 07:55

Vitec from memory I am dont think we have the cash to pay for a PEA for all of ZULU. I am sure I saw that some where

[vitec] 23/8/2017 07:54

I see the "one liners" are back.

If you had read any of my previous posts you would have seen this was on the cards. Hence, why I have pulled back from committing any more funds. I am not concerned about the issuance of the shares for purchasing Circum as I believe George has the "heads up" on this. If you are going to make negative comments then you need to read the whole of the RNS and ask the question "what is going on at RHA". This would at the very least give you postings some credence rather than knocking the fact that George is purchasing a tier one asset with PREM shares.

We all need to remember this is AIM. The one certainty you have is that companies issue shares like confetti. May do it to satisfy an agenda that is never going to happen and is at best wishful thinking and at worse lining their own pockets whilst overseeing incompetence. If you believe this to be the case with PREM I urge you to sell up and move on. George, not unlike me and you is a human being that has frailties and acts irrationally and emotionally and makes mistakes at times. Yes he and us get it wrong from time to time. I do not believe the investment is ZULU is a mistake and likewise I do not believe the investment in Circum is a mistake and that is why I will continually support the company with my investment.

I continually appraise and reappraise the position at at this time Circum and Zulu outweigh my frustration over RHA. I amy have blinded myself to the fact that RHA could be a "white elephant" and this may cost me but my eyes are wide open to the massive potential of our two tier one world class assets in Zulu and Circum.

[edgein] 23/8/2017 07:54

Very good, increasing us to over 5.2% of a project that is fully appraised, has an NPV in the billions and is ready to jv/sale. George must be getting us ready for a potential liquidity event. Interesting too that the moz timber operation is up for sale, that'll hopefully grab us a few more Circum before the end.

Geoff,

Mr Roach and Mr Ritson are like chalk and cheese. Mr Ritson bought into a very early stage helium project that wasn't yet proven with a well. Mr Roach is buying into a fully appraised late stage Potash world class development with some of the lowest projected operational costs around. You cannot at all compare the two, Mr Ritson killed the momentum at SOLO with the helium asset and no further plans for Ntorya, Mr Roach on the other hand is doing continuous drilling on Zulu and finding even bigger discoveries as we go. Also PREM's assets are world class, SOLO's are quite good at Ntorya at least.

Regards,
Ed.

[shapido] 23/8/2017 07:52

Needing money? But this was satisfied by issuing shares. Unless they are just gonna sell up the premier shares they got

[sleveen] 23/8/2017 07:48

vitec

...The simple answer to your question is these are distressed sellers or sellers that need the money NOW for other projects. PREM is a willing buyer and therefore it makes sense to sell even though you may receive more monies sometimes in the future. Hope that makes sense...


What evidence do you have that the assertion above applies in this case?

[sleveen] 23/8/2017 07:45

Considering RHA was supposed to generate $200k cash per month and then $300k cash per month by 12/2017. It now looks like RHA is a write off (or write down of assets.

...commissioning of an independent review of the shaft systems and underground development at RHA that is required to support the projected through put from later in Q4 2017 and a review of plant operational maintenance necessary at RHA...



No wonder there was a fund raising.