Premier African Minerals Share Discussion Threads

[mike_f] 02/1/2018 13:11

I'd be happy if the Chinese came in and offered £50M for the whole company at this rate lol. I think that is a real possibility also.

[ihavenoclue] 02/1/2018 13:10

Mike... IF that is his plan I am not sure destroying what little credibility he had left was a good idea (by not stating how far away from profitability they were and making the situation sound desperate after spending all of December saying 'RHA on target')

[mike_f] 02/1/2018 13:07

That is a real possibility. GR told me he was exploring options regarding taking back part/all of the 51%... maybe this is a way to facilitate that! Doesn't look good to the market though.

[ihavenoclue] 02/1/2018 13:01

1hopper... I was actually thinking the same but didn't want to say it and be seen as a ramper when there are a lot of angry people out there today.

[1hopper] 02/1/2018 12:56

OK, just a thought, does anyone think this is a move designed to make the 51% stake holders relinquish their holdings or at least water their holding down?What if RHA needs (say) £1m to be profitable? GR wants the money from the 51% who (AFAIK) haven't put anything in so far. What if he says, PREM will put the money in for X% of the 51% as it's no longer a govt requirement.GR hasn't stated how far RHA is away from profit, all we know is that it isn't there yet but it was stated previously that they were 'almost there.'That said, IMO Roach has to go, his credibility is shot to pieces

[dr jekyll] 02/1/2018 12:47

Quite a lot of current buying will help me to sit tight.

[jungmana] 02/1/2018 12:45

For new investors this is a stonking buy today. For old timers , just got to sit tight.

[dr jekyll] 02/1/2018 12:44

Agree ihnc re George and his 0.5p conversion. Does seem odd. I suspect that RHA is not as bad as this rns implies. Bit of a shock though.

[mcpaulas] 02/1/2018 12:42

No folks this man and his band of brothers are con merchants and await another pile of money they can con people out of with ZULU.Africa will never change its run on corruption.

[vitec] 02/1/2018 12:42

Let's say Zulu is worth 75 million dollars as an example. This is considerably moore than the whole of PREM currently. A separate listing will reflect this and we are given for free shares in the new entity commensurate with our holdings in PREM. The value of PREM will go down whereas the value of Zulu is outed and hopefully goes up. This gives shareholders the ability to release value from their shareholding whilst at the same time allows shareholders to own a portion of Zulu without all of the other assets that continually pull the share price down aka RHA.

[ihavenoclue] 02/1/2018 12:39

To list Zulu it doesn't have to be a penny share like PREM. I am just concerned over %'s and how the shareholder may continue to be watered down.There is a lot of anger at the moment and I can't really blame them as I have took a huge hit today. What confuses me is why did GR convert £100k into shares at 0.5p if he thought there would be this reaction to the news? If he thought it would get hammered surely he would wait before the conversion? The wording of the RNS is very bad though as the talk of urgent talks required with the 51% holder. Still no numbers - how far from profitable are they? Did he actually think that he could release news and get all the bad stuff out of the way and there would be no reaction like there was little reaction to the Zulu RNS in December????

[pooler1] 02/1/2018 12:39

Vitec

I agree with your sentiments, surely someone out there who knows what they are doing could make RHA work so sell it, otherwise sell the equipment and get some money back. Don't want another penny thrown at it.

[highly geared] 02/1/2018 12:39

Roach needs to step aside and be replaced with someone who has a credible track record. The last 6 months has caused all crebility to evaporate and it will be months before we see any share price recovery. RHA is now a white elephant with zero value. How long to expand Zulu resource and get to BFS stage; 18-24 months....

[vitec] 02/1/2018 12:29

Obviously George is in for the long haul as a separate listing for Zulu is some way away. I would have preferred to see a JV. At least then we would have something to cheer about and understand the value of Zulu.

I am staying put. This is exactly the wrong time to sell but I cannot think of any compelling reasons to buy any more shares. We do not have proper guidance on RHA other than broken promises and missed expectations. We do not have any idea as to the true worth of Zulu other than it is worth more than the Mcap of PREM (before the massive drop in the SP)well you do not have to be a genius to work that out.

The question is if you are buying how long will the capital be tied up? Yes this could look like an absolute bargain but the time frames have moved and there may not be a tangible move upwards in the share price for the foreseeable future.

If i am honest I saw this coming when a previous RNS stated "we will give a full and comprehensive update on RHA" I stated then how many words to do you need to write to state profitable. PREM are to far into RHA to walk away so I see more money being given to get the mine profitable. However, I reserve judgment as to whether the mine will ever be profitable. I am no expert but is it the mine that cannot be profitable or those running it. If it is the latter then some kind soul may take it off our hands. If it is the former than we are stuck with a white elephant waiting for the white knight in the shape of Zulu to come charging over the hill to save us.

[nick rubens] 02/1/2018 12:27

Well I've bought a few, if that helps sentiment?

Still have Zulu and Circum and still RHA can be sorted. Nothing unusual about missing profitable guidance in the mining sector.

[mike_f] 02/1/2018 12:19

All about Zulu. RHA has missed which is disappointing and unsurprising reaction in the share price but Zulu is still a monster. A separate listing will ensure value outs. Good call IMO.

[stevenb3] 02/1/2018 12:16

Agreed, Zulu shares will be highly sought after and may list at 0.50p and on that day PREM would fall to say 0.10p so I am not too worried about today's news.

[ihavenoclue] 02/1/2018 12:12

Nateroyd... You really don't get it lol

[aussieb3] 02/1/2018 12:11

Cheers Steve. Zulu is where u want the money. They should just sell that asset off now