Premier African Minerals Share Discussion Threads

[donald tramp] 07/12/2017 19:44

Good post from microtan lse.

Zulu is 100% owned by PREM and is not subject to 51% indigenisation rules but prior to today's news there was a potential risk that we might have to give up 51% of Zulu. That potential risk is now removed and this increases the market value of Zulu as it is now a safer investment PREM investors and for possible JV partners. It also makes a possible IPO more attractive if splitting off Zulu into a separate company.

Today's news could also allow PREM to increase it's current share of RHA to above 49% e.g. by negotiating writing off the $18+ million plus interest owed to PREM by the indigenisation partners. At the investor's event August 2017, GR said that he was in regular discussions about this debt owed to PREM so this is now a possibility.

[donald tramp] 07/12/2017 19:43

Chinese making a move post Mugabe with further investment into Zim

[ihavenoclue] 07/12/2017 17:33

I hate Friday news ... normally a time to bury bad news :(

[jungmana] 07/12/2017 16:48

Me too :-)

[mike_f] 07/12/2017 16:32

Looking forward to tomorrow :D

[jungmana] 07/12/2017 16:28

Are we going to get news on a Friday?

[vitec] 07/12/2017 16:18

That's why I own a fair chunk of shares. However, by the sound of it the Doctor is catching me up. Didn't I read a post that said you had north of 30 million shares?

[moneymunch] 07/12/2017 16:15

Cheers vitec, a great opportunity here for significant near term upside imho, and one eye on Ukog. Gl ;-)

[vitec] 07/12/2017 16:11

MM having a break from UKOG? You are welcome here

[moneymunch] 07/12/2017 16:08

Zimbabwe relaxes controversial foreign ownership law

Published on 07.12.2017 à 16h21 by APA News

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The Zimbabwean government has relaxed provisions of the controversial indigenisation programme by limiting restrictions on foreign investment to the diamond and platinum mining sectors.Presenting the 2018 national budget on Thursday, Finance Minister Patrick Chinamasa said the government would be reviewing the Zimbabwe Indigenisation and Economic Empowerment Act to reflect the new thinking.

Under the proposal, only foreigners wishing to invest in the diamond and platinum sectors would be required to cede at least 51 percent of their shareholding to black Zimbabweans.

Restrictions on all other sectors would be removed.

This is expected to come as sweet news to foreign investors, most of whom had stayed away from Zimbabwe since the law was enacted about five years ago.

In a budget seen as a refreshing departure from the usually “politicised” budgets presented during the administration of former president Robert Mugabe, Chinamasa revealed that the government intended to honour our obligations as well as honour regional and international protocols.”

[doctor 69] 07/12/2017 16:07

peel has to move off offer

[moneymunch] 07/12/2017 16:04

Perfectly poised. Gla ;-)

[doctor 69] 07/12/2017 16:03

1 v 2 will not last long

[mike_f] 07/12/2017 16:02

I think so Doc! I sent you a PM btw.

[doctor 69] 07/12/2017 16:00

Mike F

when this 2.5m seller gone , wooosh

[molatovkid] 07/12/2017 15:56

dodge...you seem to have some un-resolved issues.

[mike_f] 07/12/2017 15:55

This news is huge, the 2.5 million seller will be done soon enough on current volumes. Our assets have just doubled in value effectively :)

[doctor 69] 07/12/2017 15:52

interesting the 2.5 m selsl can nto hold the rise now above mid for offer

[doctor 69] 07/12/2017 15:41

looking good even with the 2.5 million sells popping up .

[donald tramp] 07/12/2017 15:37

I agree that is really game changing news for Zim and us.

[doctor 69] 07/12/2017 15:25

Excellent news on Zimbabwe , just nibbled a bit more

[mike_f] 07/12/2017 15:24

It is a cracking bit of news. Was the JV partner waiting to see the outcome of the budget before putting pen to paper? Do we have an outright buyer in the wings that was waiting for the same? This could get very exciting pre Christmas.

[donald tramp] 07/12/2017 15:20

Nice find Mike.

[donald tramp] 07/12/2017 15:20

Unfortunately dodge you are wrong again, it's .4125 to be precise.

[mike_f] 07/12/2017 15:03

Just seen this posted on twitter:

The controversial Indegenisation Act has been amended. Foreigners will no longer be required to give up 51% ownership of their companies.



Opens more doors IMO...