Premier African Minerals Share Discussion Threads

[thehitman1] 18/9/2017 08:24

Acrually it will be more like screaming than crying.

[thehitman1] 18/9/2017 08:23

More crying for share holders in 4 months time.

[vitec] 17/9/2017 22:35

No Turbo I won't succumb to beating the drum for George. Read my previous posts.

I hold a substantial amount of shares in PREM and have seen my paper wealth diminish greatly due to the decision to purchase Circum shares and do a deal with YA. I am not happy about the situation. However,I like you have a choice. I have decided to stay invested due to the assets. I am no fool and I fully understand that the assets are only worth what the humans controlling them can extract. George could make further mistakes and screw this up. I have written about human frailties, vulnerabilities etc and we are all prone to make misjudgments. I have made mistakes all of my life but that is the price for moving forward and I have learnt from my mistakes. I was fortunate in my early years to be able to ask a very wealthy man how did you become wealthy and his response still resonates with me today "good decisions, how do you make good decisions, experience, how do you get experience, from bad decisions"

I hope George has listened and has heard the cries of shareholders. As I have repeatedly said the next 3 to 4 months will be pivotal. I am still willing to give George the benefit of the doubt.

[activeservo] 17/9/2017 21:23

Dodge, the success of every miner and oiler in the world is based on the commodity price aka "luck", so nothing new.

[dodge city] 17/9/2017 18:18

activeservo.
Are you sugggesting that this company's business strategy is based upon luck.

If so why don't they just head down the local casino in Sun City.

[turbotrader2] 17/9/2017 18:14

Bla bla blaThe fact he has diluted us beyond life it's self says it allLike I've said buy him a Madge scooter and put him on Benidorm sea front as that's all he's good for

[donald tramp] 17/9/2017 17:50

China has come to Georges rescue with RHA.

[activeservo] 17/9/2017 13:02

Going on experience of operating plants I had concerns when the crushing feeder needed modifying, and the plans to pursue open pit really showed me that they weren't obtaining the quantities expected = loss maker.However, the tungsten price has started to save RHA, and that is actually ok, if a bit embarrassing. So currently the asset I had personally written off may actually prove to be of value, hence Fridays news was positive.It is just the same as the oil price saving the company I work for (In fact it's directly linked to our bonuses!). We now hedge to avoid such situations. I assume PREM could do this as well, after the plant is in full operation.It's still looking good here.

[vitec] 17/9/2017 12:50

Many small companies use Darwin/YA Global. There is nothing unusual in that. I note that at the end of the article PREM is participating in an event being held on the 21st September and hosted by share price Angel.

There is no meat to the bones in their conclusion. As I suspected they paint a picture that suits the writer. Taken in isolation RHA would pose an issue to PREM. You can see by George's frustration that his expectations have not been met and the continual delays have been embarrassing. However, PREM is not a one trick pony. I have relegated RHA (even though PREM is owed 20 million US dollars) as a side show due to the world class asset in Zulu and the potential of Circum. If you want to write a balanced article then you need to look at all of the assets, not just those that suit your agenda, good or bad. Hence why on this BB all opinions/arguments are welcomed as no one has the golden mean and a crystal ball to determine what the outcome in the future will be. I believe the next 3 to 4 months will be pivotal and will show that PREM has brought the potential it has to fruition and moved from explorer to producer of metals that have world wide use.

[dodge city] 16/9/2017 18:59

Ref the Procactive Investor article - no wonder this company has taken on suicide finance, finance of last resort.

[donald tramp] 16/9/2017 18:49

Clearly they have their own agenda for writing that.

[plasybryn] 16/9/2017 18:38

The source is share price Angel

[doctor 69] 16/9/2017 18:22

vitec , he is only saying what the printed proinvestor printed / said on friday

also the whole article was posted on friday somewhere on this bb

[doctor 69] 16/9/2017 17:53

napom , thanks

personally the fact they now say late Q4 , makes me think we are looking at January

[napom] 16/9/2017 17:40

Severn, thanks for the info...RHA is already producing but only at 55% capacity as the plant machinery are constrained by the limitation of the primary crushed feeder. The modifications required to fix this will be completed by the end of Sept (8 weeks from rns published on 31st july). The news that there are higher grade of underground ore at RHA is actually very good news as they can now drill deeper knowing that they will be getting higher grade underground ore..drilling will be completed by end of Oct...so if everything goes to plan by end of Nov will be the first month they will hit production targets at 10,000 mtu of wolframite.

[doctor 69] 16/9/2017 14:21

sleeen , thanks for this .

So is there slack in the system if it takes longer to get up to full production.

Being ignorant does that mean at present RHA is producing nothing . If correct we expect to go from nothing to full production in 3 months, ??

[sleveen] 16/9/2017 10:59

napom

Not quite IMV

RNS "...the recent substantial increase in the price of APT to $310-$325 per mtu has reduced the breakeven throughput tonnage required from underground ore at the predicted Resource grade to approximately 4,500 tonnes per month and increases potential profitability as and when plant optimisation completes and we are able to process at the higher throughput tonnages projected for later in Q4 this year. Most importantly the reduced breakeven point can also be achieved without any feed from open pit operations..."

A circa 25% discount to W ATP is applied to WO3 concentrate @60% ie the RHA product.

So RHA receive about $220/MTU (1 MTU WO3 (100%) weighs 10kg but is contained in approx weight of 16.7kg conc' @60% WO3.

EDIT:

So 10000MTU * $220 = revenue $2.2M/month and if 10000 MTU/month are generated by 16k tonnes ROM ore per month underground mine only, then a break even 4500tonnes/mnth gives 4500/16000*10000*220= $619k monthly costs and $1.6M gross profit each month = $2.2M/month.
That's $19.2m per year GROSS profit.

(The above seems about right as there is a figure given for costs of around 825k per month when the 16UG/23OP tonnes per month at full capacity of 10000 MTU/month).

RHA (0.4% grade) will be producing about half the WO3 concentrate by weight of ORM (0.25% grade) and WRES (0.1% grade) and look at the progress their share prices have made on the back of the W APT price rise.

WRES hasn't even got full funding for it's main production project yet.

Investors are overlooking an opportunity here. IMHO.

[mike_f] 16/9/2017 08:20

Lithium increased to 139.59 USD on Friday September 15 from 138.01 USD in the previous trading day. Historically, Lithium reached an all time high of 139.59 in September of 2017 and a record low of 62.79 in February of 2016.