Premier African Minerals Share Discussion Threads

[daar] 02/1/2018 18:16

Very disappointing news but after watching the interview I reckon GR is confident of bringing RHA to profitability in next few weeks. Mostly dependent on the deal they will have with the 51% owner

[thelung] 02/1/2018 18:11

hxxp://www.proactiveinvestors.co.uk/companies/stocktube/8580/premier-addresses-rha-issue-but-looks-ahead-to-2018-8580.html

[guyswonga74] 02/1/2018 18:06

Take a look at MSYS and CLNR as we wait here

[mcpaulas] 02/1/2018 17:53

I do not think PREM have the money to float ZULU.An ipo is not cheap

[bittorrent] 02/1/2018 17:49

I wonder if this talk of a separate listing is designed to flush out a buyer for the whole of Prem, they would be getting Zulu for less than true value. One thing that slightly worries me is that they are asking drilling contractors to drill on an earn in basis, in other words Prem don't want to spend any more money on drilling. How much money have they got left from recent fundraising?

[donald tramp] 02/1/2018 17:41

Guys I am out and have taken the hit. I'm not bitter, I'm not sad, I'm not crying in my soup before anyone jumps on that bandwagon, but I think we all knew in the back of our minds that there was going to be another destructive rns and this is it.

I'm not talking about new investors as they are taking "a punt" from here and maybe it's worth it, but for those that have been invested a while I really hope it comes good for you, but I'm sorry to say I can't see it myself. I think the next bit of news you will all get is that the stock is suspended and then it's de-listed. Don't think that it can't and won't happen because it can it does and it stands a more then even chance of it happening here.

I'm not looking to buy back in lower as again a few will be saying, I'm out, completely out and moving my money here back into the game that I know which makes me money month in month out.

AIM can pay handsome rewards, but it's a gamble no other way to look at it imo, no matter how much honest research you do the cards are still stacked against you.

Will still keep my eyes on this just for interest sake, and maybe post from time to time.

Good Luck to you all.

[andrewsr] 02/1/2018 17:38

Well, GR was true to his word, he did say he would try releasing some bad news to lift the share price after the share price dropped on the last good news.
It looks like there will be some sort of deal on the ownership of RHA to claw back some of the $20m owed by the government. On current valuations they should get at least all of the 51% to write off the $20m.
There must be a solution to RHA's problems, just at what cost/JV with solvent partner? In the current climate there must be some appetite to keep the mine going (employment being more important than other considerations) at the cost of government ownership, i.e. bring in more expertise/cash, which the government can't provide.
More Zulu assays to come, maybe a resource upgrade and then float separately. I can't see it taking 18-24 months as suggested earlier - there are plenty of exploration company's floated on hope and optimism whereas Zulu clearly has enormous potential already.

[the bull] 02/1/2018 17:20

Hopefully we will increase our 49% to something like 60% and profitability towards the end of this month. Maybe the short term pain will all be worthwhile. With £1M raised instead of the £0.5M, we can throw a little more at RHA after the % re-alocation. Thats my business plan for GR

[jungmana] 02/1/2018 17:05

Well , at least we hold the record for the worst performing share of 2018 on my screen :-)

[forwood] 02/1/2018 17:00

Absence of any detail on RHA figures is worrying and suggests a major disappointment. Uncertainty of direction here also deeply worrying. Down 60% on my last purchase here and am retaining only a token holding.

[billthebank] 02/1/2018 16:55

Fair enough IHNC Will do!! I have been lucky here Still have a few and was close to topping up today Will see how the herd reacts tomorrow as a lot of people nay not even know about this news

[pooler1] 02/1/2018 16:53

The fact that no further funding is to be provided tells me that it wasn't close to making a profit. Not sure what over reaction has happened?
The company is not making any money and without RHA making any then we can only rely on either a sale of one of its assets or more fund raising.

[ihavenoclue] 02/1/2018 16:49

Bill... Listen to it again. He said Yes to updating the market about profitability

[the bull] 02/1/2018 16:34

An AIM classic over reaction

[y1phr1] 02/1/2018 16:23

Agree blueco.

[y1phr1] 02/1/2018 16:22

Taken a big gamble and doubled my holding. Good luck all holders.

[blewco] 02/1/2018 16:21

Th RNS states "RHA did not achieve its guidance of profitable production" , it doesn't say it didn't achieve any production, just less than profitable. The question is how much was it short, if only by a little then these are a bargain!

[pooler1] 02/1/2018 16:09

With all my issues I have with GR I don't think he is a crook, that leaves incompetent and think someone else needs to take the reins.

[mike_f] 02/1/2018 16:06

Has he been sold down the path by the contractor? Is that why he's now hitting them with providing finance for the project?Doesn't seem like he would blatantly bs when he converted his shares at .5p! Now sitting on a 50% loss...

[dmitribollokov] 02/1/2018 16:00

Said it in the summer - he is either incompetent or a crook.

[billthebank] 02/1/2018 15:52

Summary of George in November when talking to pro Active

Regarding RHA he stated.A substantial bulk test is being done on open pit and at present underground ore is being stockpiled.

He is encouraged with what is happening at RHA but of course there have been lots of issues there. An announcement will be available in the course of the next week or so.

And YES INDEED RHA is still on track to hit profitability by Xmas!! !

[dmitribollokov] 02/1/2018 15:42

Remember castigating someone for saying "smoke and mirrors" and "mind your eye" ?