Premier African Minerals Share Discussion Threads

[ihavenoclue] 20/10/2017 14:31

The market woke up to VAST and they don't even have the licence yet ... they will wake up to PREM in time too :)

[billthebank] 20/10/2017 14:18

Just found a wee piece of paper and scribbled:-

4500 metric tonnes as stated in last months RNS is break even. So if we reach 10000 metric tonnes as anticipated then boom. Personally I will be happy with 6000 mt/month. So that would be profitabilty of circa £400k/month???????????? ie £5M est and on a PE of 10 £50M If we produce 10k tonnes then we are looking £8M P/E of 10 £80M So without ZULU an CIRCUM even a blind man can see how undervalued this is??

[billthebank] 20/10/2017 13:56

Astonishing Will try and find out what break even was proposed to be last

[edgein] 20/10/2017 13:55

This one is very over sold on RHA let alone pricing in anything for Circum or Zulu. Unlike the poster earlier I hope GR promises to buy as many Circum as possible once the Zulu deal is done.

Regards,
Ed.

[edgein] 20/10/2017 13:54

Bill,

More like $280/MTU rather than $112 for tungsten.



Regards,
Ed.

[ihavenoclue] 20/10/2017 13:32

Bill ... so much news to come before end of year :) And all for a market cap of £17.4m at present

[billthebank] 20/10/2017 13:02

Dont forget this!!!

The Company has engaged an independent advisor with extensive experience in preparing Mineral Resource and Reserve Statements to carry out an assessment of RHA's open pit Mineral Resource Estimate (as announced on 30 November 2016), as well as advising on optimisation of the parameters used in the Mineral Resource Estimation.

[billthebank] 20/10/2017 12:51

From RNS in October 2016

The XRT ore sorter is expected to be supplied on a toll basis and the company is fully funded for this RHA upgrade. At the planned 39,000 tonnes per month of ore mined, it is estimated that RHA should be producing about 10,000 metric ton units (mtu) of tungsten trioxide concentrate per month, which is equivalent to approximately US$1.12 million per month in gross revenue at the current net price of US$112 per mtu, which would be received by RHA. I am sure that the price has moved up markedly in the last 12 months!!!!

[ihavenoclue] 20/10/2017 12:40

Ianbag19 Oct '17 - 17:17 - 5458 of 5477 2 0

They can let the brakes off here now anyway as I have completed my additions and have doubled my holding to 10m.

+++++++++++++++

Me too and I concur :)

[donald tramp] 20/10/2017 12:19

Yep totally.

I would say the overhang must be gone or very nearly gone personally, just 10% traders on this at the minute and you can't blame them.

[doctor 69] 20/10/2017 11:49

thanks ,

tony

[doctor 69] 20/10/2017 11:27

Banetpeter , Any idea how many or how long till cleared

[doctor 69] 20/10/2017 10:36

It is most likely they got some in , few need a few to make a statement

[sleveen] 20/10/2017 10:15

I did comment that the social media rumour of assay results was BS.

[bittorrent] 20/10/2017 10:10

Yes indeed banksy, whether the assays are good or bad, if they are sitting on them the authorities will take a dim view of such behaviour.

[doctor 69] 20/10/2017 09:58

JAM

just abotu to post that , but you beet me to it , yes surely the offer has to rise again

[jamdan1] 20/10/2017 09:53

Some big buys at full ask coming now

[banksy] 20/10/2017 09:23

Well this ain't moving up until George stops sulking and starts giving out those assay results he allegedly got all excited about nearly 2 months ago! Comical

[donald tramp] 20/10/2017 08:27

Recap:

29 September 2017

Premier African Minerals Limited

("Premier" or the "Company")

GBP3.5 Million Funding Update

Premier African Minerals Limited (AIM:PREM), the London-quoted mining and exploration company, is pleased to announce an underwritten offer for GBP3.5 million via the PrimaryBid.com platform. Further details of the PrimaryBid Ltd. ("PrimaryBid") offer will be set out separately in an announcement to follow shortly.

Highlights

The Company plans to use the proceeds of the Offer to:

-- Complete plant upgrades at RHA Tungsten Mine ("RHA");
-- Fully funded remaining underground development at the RHA mine to scale up production to the mine design rate;

-- Full repayment and cancellation of the Delta-Beta One EQ Ltd ("D-Beta") equity swap agreement;

-- Full repayment and cancellation of the YA II PN Limited ("YA II") loan agreement;
-- Completion of the PEA on the Zulu Lithium Project ("Zulu"); and
-- General working capital.
George Roach, Chief Executive Officer of Premier, commented:

"This funding via PrimaryBid will allow the Company to fully repay and cancel the existing loan note and swap agreement. This funding will also provide the final budgeted additional capital for final plant upgrades at RHA and fully-fund the remaining underground mine development. The recent rise in the APT price has significantly lowered the break-even throughput rate of the plant to 4,500 tonnes per month which can be comfortably achieved during the latter part of Q4 2017. RHA's capital development budget is now fully funded. At the same time, we will complete the PEA on the Zulu Project which will allow us to re-engage in more meaningful joint venture discussions.

We do not expect to be raising any additional capital to fund RHA capital developments going forward. Furthermore, the Company will have fully paid-off and unwound the YA II loan and D-Beta swap as announced on 31 July 2017 and as such will no longer be part of our balance sheet."

Share issue

Pursuant to the PrimaryBid Offer the Company will cancel the swap agreement with D-Beta by the repurchase of the balance of subscription shares issued in July 2017, which will be issued to subscribers under the PrimaryBid Offer together with the further issuance of up to a further 538,095,239 new ordinary shares.

RHA Production Guidance

Premier is pleased to provide the following production guidance from the management team at RHA. All the upgrades to the front-end of the plant should complete during Q4 2017. The plant has continued to undergo significant optimisation and shipments have been made. The Company has also increased and upgraded the resources in the underground mine as announced in 15 September.

Underground Mine

During the latter part Q4 2017, throughput from the underground mine is projected at not less than 6,000 tonnes per month and the plant is projected to be profitable at this rate without any additional ore from the open pit mine. Production from the underground mine will be scaled up incrementally to the targeted design rate, this is expected to be achieved during Q2 2018 which would generate a net positive cashflow of around US$547,000 per month on an EBITDA basis based on the anticipated ore grades, plant through-puts, recoveries as well as current APT price. The initial production target excludes any production from the open pit mine.

Open Pit

The Company has engaged Venmyn-Deloitte (Pty) Limited, an independent advisory company with extensive experience in preparing Mineral Resource and Reserve Statements to carry out a review of the open pit Mineral Resource Estimate (as announced on 30 September 2016), as well as advise on optimisation of the parameters used in the Mineral Resource Estimate. Given the recent increase in the APT price, the Company is expecting a significant increase in revenues from the open pit operation since the guidance note announced on 30 January 2017 and will provide further production guidance on the open pit on completion of this review during October.

[doctor 69] 20/10/2017 08:10

Barnet , how come?

[jungmana] 20/10/2017 06:16

Wally- that's exactly what I said to GR in our last correspondence. He has had lots of emails from concerned investors in last 2 months and looks to me like he is listening to us now.The next 3 months will be transformational imo.

[nash81] 19/10/2017 23:00

any news on Circum? have been going on for ages that one

[barnetpeter] 19/10/2017 21:04

NO the sellers have stacks yet.