Premier African Minerals Share Discussion Threads

[vitec] 07/9/2017 13:48

Jung, you are right regarding Circum. I have been hearing about the Circum liquidity event since early 2016. However, I have conveniently forgotten about this and missed expectations regarding RHA and promises of no more dilution because of the lure of Zulu.

I have sympathies with those that hold a negative view as there is good reasoning as to why you could feel let down. What I don't like is the misinformation that is bandied about like facts. As I have always stated their is an alternative view and a choice to be made.

PREM is at a tipping point. I see Zulu as the white knight, Circum for the future and RHA as a priority to be sorted. I have concluded that the market will react positively to news regarding RHA because it shows that the management and BOD of PREM have the capacity to resolve the necessary issues and get the asset sweating. We are owed 20 million US dollars. If George wants money to buy more Circum shares then he doesn't have to look far to get it! Come on George get RHA sorted and put a smile on all of our faces and stop me from thinking this has and is just an expensive sideshow to Zulu and Circum.

[corpraiders] 07/9/2017 13:47

Mike_F
7 Sep '17 - 12:27 - 4294 of 4294 0 0



Before - that headline would have sent the PREM share price up into the upper atmosphere but today the share price hasn't moved an inch and small wonder when the board can issue millions more share's like confetti and of course we have YA at the helm.

In a way I wish PREM could sell Zulu as soon as possible, to another company who care more for their investors and shareholders.

[mike_f] 07/9/2017 10:58

21st September PREM presenting:

[...]

ADVFN doesn't like proactive investors links...

[jungmana] 07/9/2017 09:47

Vitec, good post there.As someone said on lse, the only thing shareholders got here over last 2 years has been constant issue of shares and unlimited use of the word; significant.Whilst rha kept failing to meet targets, GR is busy using money from Darwin to buy more toys; Casa 4.5% and TCT.

[vitec] 07/9/2017 09:30

dmitri, I have not checked the finer points of the YA deal. I am sure there must be a early redemption fee but if you want to redeem there has to be a mechanism for you to do so. These deals cannot be one way you have to have a get out clause.

[vitec] 07/9/2017 09:27

I have given more thought as to why George has halted purchasing more shares in Circum.

1. Would have to issue more shares - this is a no no
2. Sellers may want cash - no cash available until Zulu and RHA start putting money in the coffers
3. Needs to get the share price up to 0.7 due to the financing deal - can't do this if you continually keep issuing more shares and depressing the SP

As we stand we can take comfort from the fact that we do not need to worry about any more shares being issued for the foreseeable future.

As far as the number of shares in issue this is partly a red herring. It is what the company is worth (Mcap) that is important. If George and the BOD want to get PREM on the institutional radar then a share consolidation would have to take place as well as the Mcap having to rise substantially from where it is today. Both are possible but as I have said before the time frames will have to be extended.

I think Zulu will provide us with some very good news in the coming weeks/months which will give a welcome fillip to the share price but the priority needs to be to get RHA sorted and producing revenue and profit. PREM will then move from explorer to producer and this will change the physcological view of PREM.

Currently, the market has just seen a company that issues shares, raises finance by using Darwin and YA and does not meet expectations (RHA). The next 3 to 6 months are going to be defining. I am still positive about the prospects of PREM. They have some great assets and a viable strategy to deliver shareholder returns but I am also aware of the risks. The fact that shareholders have been listened to is a start but the cynical side of me thinks that again expediency has come to the fore and having the share price closer to 0.7p is more important then placating a few shareholders.

I do not see the share price rising quickly unless we have a stellar RNS. The 690 million shares still hang over us plus any unwanted shares from those issued to purchase Circum shares. However, as each day goes by we get closer to the PEA being completed and news on possible deals for Zulu. Assay results must be on the horizon. We should also get an update on TCT IF.

As a company grows it buys lost of products and assets and then assesses what it believes will give better returns in the future. I have no doubt that Zulu, Circum and RHA are assets that can deliver great revenue and profits. The trick is extracting it.

[jungmana] 07/9/2017 08:46

Bill, the 2 replies I got over last few weeks of complaints were from Fuad. They are no satisfactory but made clear that George and the BOD know our complaints and have had contacts from many investors.He also tried to give some positive spin on plans going forward with regard to Zulu, rha and circum.I continue to hold as my average is just about 0.5p and still have high hope for Zulu being sold or jv in coming 3/4months.

[ihavenoclue] 06/9/2017 19:14

Donald ... that may be why PREM is valued as it is currently. The market have heard it all before from GR so now needs to see hard facts and promises carried out in full before it starts to fully believe.

Of course this lets prospective buyers in at this level but there is also the risk that what is coming up may not materialise.

So I feel as promises become reality then the share price will in tune reflect that change.

All IMHO
Regards
IHNC

[ihavenoclue] 06/9/2017 19:07

vitec ... very good post nicely put :)

[donald tramp] 06/9/2017 18:19

What I believe is that they had sidelined RHA, but with the rising Tungsten price there minds have now hopefully become more focussed and we will see some movement in a positive direction over the next few months, substantial and significant would be nice....... where have I heard that before?

[donald tramp] 06/9/2017 13:14

Good posts.

Why don't we launch a hostile bid for the company en-mass.

[mike_f] 06/9/2017 11:08

Knowing Circum accumulation has been put on hold for the time being, that's got me all excited again! Next few months should be great and looking forward to one hell of a Christmas present in the way of a Zulu JV/Sale. :)

[wallyjumblat] 06/9/2017 11:00

If RHA can generate cash then keep the limestone as a free carry, Zulu is the Company maker so all efforts should be placed in proving that first, and I think that's the train of thought now with Circum being a future event that could add the icing. So in a few months all will be revealed and the cards will have to be played, so good time to get in here. AIMVHO

[jungmana] 06/9/2017 10:34

Vitec, if you look back last October when GR acquired TCT. The promise was that it would be generating cash and contributing to the company's finances by mid 2017. That has not materialised and will not do so for the foreseeable future.Circum is a far better project and instead of diluting why not dispose off TCT?Just too many projects for GR to run. Is best to concentrate on core assets and make sure targets are met .

[vitec] 06/9/2017 10:26

I think we should put ourselves forward as potential directors as we seem to have a good grasp of what needs to be done!

Jung, you articulate the position perfectly. I concur with everything you have written except for TCT IF. If we can keep the limestone deposit with a free carry then so be it. The only issue I have is how much management time it takes to look after this asset against the potential returns.

[billthebank] 06/9/2017 10:03

I totally totally agree with that last comment Debt too expensive and complicated and we have fingers in too many pies and lastly we need to be very very mindful about cash flow otherwise these world class assets will end up being sold for a song