Premier African Minerals Share Discussion Threads

[dmitribollokov] 14/8/2018 21:50

Voila, chilling isn’t it?

Office and admin $465k!!!

[the bull] 14/8/2018 21:49

21. Cost of sales excluding depreciation and amortisation expense


2017
$ 000
Restated
2016
$ 000
Mining contractor
661
287
Staff costs
906
239
Consumables
240
87
Equipment hire and maintenance
816
100
Mining services
39
8
Plant services
11
9
Selling costs
32
37
Less capitalized to E&E development costs
-
11
Inventory write-down / (write-up)
795
(219)

3,500
559

Cost of sales comprises production costs in both RHA and TCT IF. The inventory adjustment reflects the impairment of the Inventory holding at RHA at 31 December 2017 as a consequence of the RHA being placed under care and maintenance.

22. Administrative expenses


2017
$ 000
Restated
2016
$ 000
Staff costs
461
462
Consulting and advisory fees
1,099
228
Directors' fees
74
59
Audit, accounting and legal fees
228
549
Marketing and public relations
152
99
Travel
419
273
Security costs
42
58
Vehicle operating costs
57
26
Insurance
51
61
Office and administration
465
290
Foreign exchange losses
7
61
Share based payment (note 19)
547
767

3,602
2,933

[the bull] 14/8/2018 21:40

I was going to slate you Mr Bollolov for your constant negative interest here, but if those figures are true then, they need questioning!


Travel $419K


Really?



If that's first class travel, then that is out of order

[donald tramp] 14/8/2018 20:13

This is far better than Groundhog Day, it makes that look lame by comparison.

[dmitribollokov] 14/8/2018 20:04

Dear oh dear, you’ve lost the plot mate.

Now, anyone with half a brain, on digesting the figures i highlighted can see the ridiculousness of this company and the madness in saying that it is fully funded. It is an outfit designed to take money from people. So anyone new here beware and dig into the history here. If you want lithium look at kodal or similar, way better story. If you want a proper company that chucks off cash and produces vanadium buy BMN.

If you want to lose money and have echo chamber type chat with people that are so deep into a company that they probably realise is a con, but desperately want to try to get others involved to keep their dreams alive, put your money in this puppy...

[dmitribollokov] 14/8/2018 19:50

Haha no read my posts over the last year, it is all there for everyone to see. Jog on. Actually you should go even longer here buy loads of them. There’s always going to be people who lose money in the stock market, better it’s someone like you and phil.

[mrphiljones] 14/8/2018 19:48

😂 Another rock hard keyboard warrior,I’ve lost nothing here aa I waiting for super smart know it alls to sell me their shares cheap......Remind us all again just how much you lost here Mr Buffet 🤗

[ny boy] 14/8/2018 19:47

Some bought in too high and have become bitter, others bought in low and feel more optimistic GLA

In a recent interview George promised to spend less, reasons to be slightly cheerful

[dmitribollokov] 14/8/2018 19:41

Keep telling yourself and losing money phil jones you cretin. Or are you george roach?

[dmitribollokov] 14/8/2018 19:38

No he just places everytime he gets a chance for a bit more coin after a rise.

Seriously people, look at the financial reports - do half of you even do that?

Inter alia some stand outs for 2017...

Staff costs $461k (mostly going to be for the in crowd, they don’t have a massive work force)

Consultancy and advisory fees (aka what george and his cronies pay themselves) $1.1m

Directors fees $74k (additional gravy)

Audit, accounting and legal fees $228k (2016 was $550k!)

Marketing and PR $152k

Travel $419k - $419k!!!! Ffs!

Office admin $465k (i’m guessing mont blanc pens all round)

Share based payments (to GR and his cronies) $547k

They have prob 800k cash on balance sheet now.

They generated $360k of revenue last year.

So no they are not fully funded, they don’t even have the cash to fund their lavish admin cost base, let alone drill holes and get a huge mining project off the ground.

They will keep raising and keep disappointing. This is a vehicle to pay themselves a decent wage and fund their lifestyle (see $419k travel costs).

They couldn’t give a hoot about shareholder value etc, there’s far easier money to be made taking it off of gullible AIM investors and paying it to yourself as fees and benefits...

[shapido] 14/8/2018 19:12

@dmitribollokov, its noy just placing after placing, its the timing, like GR doesnt want this to take off.

[dmitribollokov] 14/8/2018 18:27

You guys are just going to keep getting fleeced, GR probably can’t believe his luck. Placing after placing after placing and what has really been achieved? What exactly is £750k going to pay for other than salaries and expenses. $900k revs a month, it’s chicken feed...

[doctor 69] 14/8/2018 18:20

jumg

lets see what he delivers this week

[jungmana] 14/8/2018 17:47

Well he laid most of the mines. So he better try harder to get us out of the field

[doctor 69] 14/8/2018 17:38

Gaddy i think GR has negotiated us through a minefield.

[gaddy88] 14/8/2018 17:21

This looks built on sand. GR is the tide eroding the company away. GLA.

[doctor 69] 14/8/2018 17:09

Prem looks locked and loaded and ready to go

[ny boy] 14/8/2018 16:58

Renewed investor confidence, closed above the placing price, let’s start to see a serious move above 0.5p For starters.

[showme01] 14/8/2018 16:53

Someone on LSE has spoken to PREM and placing went to an investor

[showme01] 14/8/2018 16:52

Fair play to him! £60k and he's buying more tomorrow