Premier African Minerals Share Discussion Threads

[billthebank] 29/9/2017 08:58

That PEA is going to be our way out of this but I am concerned about cash flow.Anyone care to comment 're RHA cash flow issue?

[vitec] 29/9/2017 08:42

Hidden, I understand your logic but if George is to be believed and conversations are continually on the go, then within the course of those conversations, I would have thought that an indication as to what would be expected from any purchaser/joint venture partner was highlighted. Different scenarios will have been painted. "if we have this, then you will need to pay that".

George can't afford to come to the market and state the PEA is now completed but it is going to take months to conclude a deal. At best, I would give him 4 weeks to wrap it up. Why? Because its a bit like someone telling you they forgot Christmas, it is the same date every year! PREM know they have the interest, must have a good idea of what they want from Zulu and have an idea of what someone is willing to pay. That then only leaves rubber stamping the contract. There does not have to be some drawn out process unless someone that has not shown their hand comes out of the woodwork.

Once the deal is concluded, I believe YA will be out of the picture. We will have the necessary monies to say to them go forth and multiply.

[hiddendepths] 29/9/2017 08:12

Agreed that a Zulu deal is significant (although it may not do as much to the share price as you guys hope if Ya are ready for it). If negotiations for such a deal begin after the PEA, I wonder how long it will take to reach agreement. I'd be surprised if it was concurrently but I guess it's possible.

[vitec] 28/9/2017 20:04

With a deal announced concurrently. The PEA will be completed and a I think a deal will be announced. George is acutely aware of the need to have a higher share price and the catalyst for this is a Zulu deal.

[sleveen] 28/9/2017 18:23

I'd be very surprised if the PEA was anything but positive.

[ihavenoclue] 28/9/2017 17:33

hidden ... PEA is due end of October so you are a bit off IMHO

[hiddendepths] 28/9/2017 17:06

So a farm-out next year? It could be a miserable Christmas for holders if Ya keep their foot on the company's head! In my lengthy experience this sort of thing ALWAYS happens when you get the sharks involved. You can talk about how wonderful the fundamentals are till the cows come home but until Ya are done and dusted they are, in fact, pretty irrelevant.

I still like the story but I'm glad I sold out on the funding announcement. I'll be back when the fundamentals matter again.

[billthebank] 28/9/2017 10:27

I do though really like this!!!!

A preliminary economic assessment has been commissioned and results are expected in the latter part of this year.

We confirm that we have received interest in Zulu from a number of different parties with which we have ongoing discussions regarding their possible involvement in the project, however we believe that Zulu's size and scale make it potentially analogous to other world-class spodumene/pegmatite deposits and hence we are reviewing the best development strategy for the project, with a view to looking to concluding a negotiation when the PEA is completed.

[billthebank] 28/9/2017 10:25

Also continuing on my glass half empty this morning anyone have any thoughts on this?

Prospects for RHA have improved considerably with the recent improvement in Tungsten pricing and provided the limited additional capital to deal with final underground development and plant modifications is available over the next two months, revenues will flow as projected from Q4 this year.

[billthebank] 28/9/2017 10:21

're RNS I hate the word should.Kinda makes me nervous?


the expectation remains that this should be completed by end Q4 2017 and that RHA can the operate profitably. In the interim, a review of the previously declared resources has been undertaken and this results in an increased level of grade and contained metal in the underground and at least 10 years of potential production only from underground mining at the rate of 12,000 ton per month. Perhaps the most significant development from the recent price increases in wolframite concentrates is that RHA is now projected to operate profitably from as low a tonnage as 4500 ton per month from underground ore at projected grades. Mineralisation remains open on strike and at depth, and together with metal contained in the open pit, assures RHA of production for many years to come.

[billthebank] 28/9/2017 10:10

A bit like waiting for three bells to appear Vitee? I do agree that the assays will be good news.Thats a given.RHA for me is the killer and I think George and the team know that.As for Circum not that bothered at present. I did like the last TBD 're PEA and suitors.Surprised no one has mentioned that?

[vitec] 27/9/2017 22:37

Everyone is entitled to their opinion. However, why does the seller have to be treated any differently to any other shareholder. If I received such a phone call I would be within my rights to ask as to what piece of information do you have that will change my mind. If offered this amounts to insider dealing as the information given would be confidential and price sensitive and the last time I looked this was against the law.

I have always thought that the seller is selling from the 685 million shares. I could be wrong and something else is afoot. As always we will know in time.

Strengthening the board with an individual that is a Zimbabwean national and has extensive experience in that market is not a bad thing and will in time be seen as a good move. I would have liked George to have gone one step further and split his role but experience tells me that many CEO's do not like to relinquish control and if they do so want to be a "back seat" driver pushing through their own agenda.

I and many other posters have wanted to see a concentration of effort and resources. Today's RNS is confirmation of this. I understand the logic of Zulu and Circum but I want further confirmation to RHA and the undisclosed additional sum of money needed to bring the mine into profitability.

I think George maybe working on the basis that news regarding Zulu and Circum will be very good and that any additional disappointment regarding RHA will be forgiven. From my prospective, we are past that point and now my expectation that all three assets are going to deliver, needs to be met. I suspect many others feel the same.

[mudskipper73] 27/9/2017 20:27

"Nothing is impossible for a big man like you!" As the film goes..... nothing is impossible but it does sound a bit playground desperation, "don't hit me I'll give you 2x my dinner money tomorrow, pwetty peeease!

[activeservo] 27/9/2017 18:36

Rather than laughing or being "concerned" about my point. Someone give me a legitimate reason why it's not possible. I'm happy to be proven wrong.

[mrphiljones] 27/9/2017 18:14

Rotflmao hi there fella about this selling.......ԅ14;😂😂;😂😂

[activeservo] 27/9/2017 17:52

For example, if I knew a lender was selling my stock I'd call him up and discuss holding off until a more suitable time, easy. He's quite within his rights to say no..Think out the box.

[activeservo] 27/9/2017 17:49

Fund managers are also people, and can also make their own decisions, just like PIs. Nothing back alley about it...

[edgein] 27/9/2017 14:12

The former head of civil aviation will have a lot of contacts within Zimbabwe. We're getting there step by step. The steps will turn into a run when we get more of these results from the continuous drilling of Zulu and Zulu SE.

Regards,
Ed.

[jungmana] 27/9/2017 13:01

If he and the rest of the board can keep George in check , no more toy shopping especially on expensive credit then we will all be happy here.He has an impressive cv there

[activeservo] 27/9/2017 12:43

Assuming "Beta Holdings" is connected with D-Beta and he has a finger in D-Beta's pie, then it's a good call as his interests should align with GR and ultimately PREMs success.

[mike_f] 27/9/2017 12:39

Well if he assists in helping these fly I'll be happy ;)

[turbotrader2] 27/9/2017 12:26

I’m being flippant
Let’s hope he doesn’t buy any shares yet as it will mean no lith results for a month

[mike_f] 27/9/2017 12:00

Suggest you read that again turbo, that position was held in 2001...Subsequent to this role, Mr Manhambara became the Chief Executive of Beta Holdings, which is now the largest infrastructure inputs supply manufacturer in Zimbabwe. He also sits as non-executive director on several private and listed companies in Zimbabwe and Mozambique.