Premier African Minerals Share Discussion Threads

[valhalla2017] 20/3/2019 16:24

insane volume:). at this rate we won't clear 'this' overhang by the time we get the 'next' overhang. same old, same old.

[tedoby2] 20/3/2019 14:53

Thanks Val. I understand now.

Sorry I was under the impression you went but just didn't want to give any feedback.

[valhalla2017] 20/3/2019 14:23

weather was terrible that evening. went for a curry :)

[moljen] 20/3/2019 14:01

Ted - as usual the truth is somewhere in-between, in your case you ignored the cost of issue which based on prior raises generally amounts to 10%. Worst case just the transaction of $5.1M including this will amount to just under 5Bn extra shares and then how much do we need for our contribution (even at $45 if that is what it is drill cost per meter) another $1 or $2M, add a Bn shares for each Mill. Whichever way without one of the 2 events you've got to be looking at min 6Bn just to get us through the rest of the year.

[tedoby2] 20/3/2019 13:52

Val:-

6bn x 0.085p = £5.1m x 1.32 (ex. rate) = $6.73m. Not $5.10m. So no I don't know you're correct. I know you're incorrect on both this one and your figure of 14bn!

I don't think I've ever said you were peddling nonsense before. So it wasn't me.

Why no feedback?

[moljen] 20/3/2019 13:46

Val / Ted - it's simple maths as to how many shares will be required to satisfy $5.1M. We know because of the .00085 the maximum it may be and obviously if the share price is above this point then the number will be reduced but as of now the market is saying there or thereabouts at 6Bn. However it is not just a case of $5.1M as we have contribution to running costs to also cough up so as things stand I'd guess consolidation to try and mask the actual figure which may well be far higher with the actual position being nigh on 7Bn if a material event doesn't occur before hand. Material events being either Circum or the infamous $6M turning up. would you put your house on either occurring, I wouldn't so as usual continue to sit and watch the car crash in which we participating.

[valhalla2017] 20/3/2019 12:57

you know I'm correct though :).

when I said that NEWCo was off the table and GR was in London discussing a sub .10 placing, folks said I was peddling nonsense. and yet?....

no feedback :(

[tedoby2] 20/3/2019 12:21

Val:-

"6 billion shares get you 5.1 mil dollars." & "The problem will be that there will 14 billion shares in issue"

Come on! You're doing yourself a disservice peddling that nonsense! You've got some thumbs up mind. Ha ha.

Any feedback from last week by the way?

[valhalla2017] 20/3/2019 08:45

I think there will be money to be made on the 0.085 raise. The problem will be that there will 14 billion shares in issue so the subsequent share price increases will be small but I think 0.085 will be good for 10% ;). All depending on how long you want to hold since the overhang will be massive!

This is what the shareholder group worked really hard to achieve. Massive dilution and little tangible progress.

[thelogman] 19/3/2019 19:29

PREM,,, PAID REGRETTED EMPTIED MONEY, unless traded. Even myself have lost on last trade, total waste of what could have been a aim success company.

[valhalla2017] 19/3/2019 17:08

6 billion shares get you 5.1 mil dollars. and can you remind how much prem said they were going to pay for KME/HBR in that RNS on 14 Feb? :)

and we both know that this is what GR is going to propose to shareholders. he has nothing else. Circum is not happening this year. that's clear. so the only thing to raise the share price is money from Zim, and from the sounds of it, they have other priorities at the moment.

[tedoby2] 19/3/2019 16:54

Val you were at 4bn now you seem to be at 6bn?

Next you'll be at 8! Ha ha.

Patience called for I think!

[valhalla2017] 19/3/2019 16:51

ted - a zero here, a zero there, shake it all about and issue 6 billion shares at 0.085 :)!

so do you really think this 6 mil will come? starting to feel like that '48 hours' RNS. if I remember correctly that was also based on a letter from the Zim gov't. seems the letters don't mean much....

[tedoby2] 19/3/2019 16:25

Val - what's a zero or two amongst friends eh? Ha ha!

[valhalla2017] 19/3/2019 15:34

insane volume! 8 trades, 20 mil traded. prem is back!

[valhalla2017] 19/3/2019 10:57

well I can't see the money coming now. the Zim gov't has more immediate concerns to spend what little money it has. fixing flooded areas takes precedence over a loss making mine.

the good thing is that there is no way shareholders approve KME/HBR at 0.085 so GR has to rethink his dilution and raising strategy. this might finally force him to generate actual shareholder value and not just 'jam tomorrow' value.

[the bull] 19/3/2019 07:40

any more letters from zim gov or will another meeting be needed to prompt one of those

[valhalla2017] 18/3/2019 21:42

SVS is really getting their moneys worth. Problem is that no ones buying what they are selling!
GR has 10 days to get the 6mil or he has to postpone the egm. Get ready for some podcasts!!

[valhalla2017] 18/3/2019 17:44

30 mil traded today! serious stuff. so if 6 billion shares are admitted to the market in April, how long will that overhang take to clear? someone take out a calculator! :)

[ihavenoclue] 18/3/2019 11:05

A month ago I sold a third of my holding here at just under 0.13p and bought into FOOT ... not exactly regretting that now :)

[valhalla2017] 18/3/2019 10:53

insane volume. can't buy a bean.

let's see what comes first. a podcast about 'inherent value', a 6 billion equity raise at .085 for KME/HBR, or the 6 million from Zim gov't. Given the past 4 years and GR's love of placements irrespective of progress, I have my guess!

[mhin2] 16/3/2019 22:23

The one thing, for me, that is certain is that GR would really like to see Zim come good, and vindicate his belief. He still has a lot of `skin' in Prem, and he is getting old...not much time left for years of work. I dont think, but I could be mistaken, that GR and AB of regency mines are cloned copies.