Premier African Minerals Share Discussion Threads

[valhalla2017] 06/2/2020 12:34

from a financial point of view it makes practically no difference if prem own 10% or 12% of MNH. so the fact that prem had to give them a paltry 154k shows that they are in a worst state than prem.

mal - I hope even you can see this. this sets up GR perfectly to try and force an egm in the next couple of weeks. prem is broke, mnh is broke, the zim gov't is broke. but london retail investors, well GR only sees dollar signs.

[moljen] 06/2/2020 11:48

Mel - answer is nope it doesn't make commercial business sense

[melpan] 06/2/2020 11:40

This mornings additional acquisition makes no sense. Why dilute further when you have serious issues elsewhere, the company has no focus. Have been invested in this since the 2.5-3p days when there were only 300m odd shares and now there are 11,400m and the market cap ie value, has remained the same!

Re. looking purely at todays investment:
- They spent $200k on 2% ie valuing MNH at $10m.
- The last unuadited accounts for Otjozondu (NOT MNH in which we own a share) show operating PBT at $0.8m - so say $1.6m for full year and at 25% tax and interest $1.2m potentially in distibutable dividends - and thats best case assuming zero admin expenses (unlikely) as those are not disclosed
- Premiers share of this (based on the 2%) would be $24k
- Hence they are paying 8x earnings minimum (more likely to be 10-20)
- 5.2x assets
- 2.1x revenue (if we assume 2x half year)
- For a co. that was set up 3yrs ago and was valued at $4.9m just less than 2 years ago whose resources have not been independantly verified by PREM and were last updated 8yrs ago.
- Holding in a co. (MNH) that has never published any audited accounts. Surely thats rife for potential manipulation and fraud as we have no control over the MNH holding co and its workings.
- The reported revenue numbers seem strange - 2018 was $1.8m, 2019 dropped to $1.4m and they are stating that half year 2020 is already $2.4m !
- One positive seem that the revenue and operating pbt year on year growth is impressive (if numbers are to be believed) so thats great but we are not an investment co !

These are not compelling numbers or facts which scream "bargain" whichever ever way you look at it. The statement of "MNH is cash generative and will help PREM" is a red herring. What cash will we receive ??? It does not seem to be that cash rich and being a minority shareholder, we will only receive any "cash" in form of potential after tax dividends which as above, equates to $24k/yr max (more likely between 1-0.5x this) initially for handing over $200k. Hopefully others on here can debate why this was done and whether it makes good commercial business sense.

[valhalla2017] 06/2/2020 09:51

And it seems all those who were tipped about the epo somehow were not tipped about the placing. Funny that. Next stop Paris. That rns should be arriving next week.

[stockport loser] 06/2/2020 09:31

That extra 2% will pay for the diesel for the tractor at RHA, ok the tractor has only 3 wheels and the rust is grade 2 listed, but start with small steps....GR will be celebrating this deal tonight with the company visa.

[gaddy88] 06/2/2020 08:29

You couldnt make this up. GR is bent beyond words haha.

[valhalla2017] 06/2/2020 08:07

Boom! MNH is sooooooo cash generative that it needs prem who are broke to give them more money :)

[valhalla2017] 05/2/2020 23:27

Oh mal it was for vip investors only. It was a two person panel with GR and Mark Bristow. The session was labelled as the two biggest hitters in African mining at the moment.
I see we are in for a lot of ‘hearing great things from Zim, news is very very very close’ posts over the next week or so. Gotta get that egm off

[2857mal] 05/2/2020 21:20

Val gr speaking today, now your hearing things that hadnt even happened

[valhalla2017] 05/2/2020 21:12

With the recent ramping GR must be trying his hardest to get a placing off

[big brother8] 05/2/2020 19:35

LOOK STOCKPORT LOSER NONCE, WINDOW CLEANER IS HIDING HERE.

CAREFUL OF THIS NONCE, HE GOES AROUND CLEANING WINDOWS, THEN PEEPS ON YOUNG CHILDREN.

BOB TOLD EVERYONE ABOUT THIS VILE THING

[valhalla2017] 05/2/2020 15:46

boom! news must be leaking out about the gold in the RHA tailings. 2 million ounces just sitting there. once that MNH truck arrives, this is going to go bananas.

[valhalla2017] 05/2/2020 12:21

I heard GR's presentation at Indaba yesterday was a highlight of the conference thus far. GR told the audience that he's feeling pretty confident there is some serious gold in the rha tailings. The microphone cut off right when he was saying how much, but a few in the audience heard 1-2 million ounces. imagine that. 2 million ounces of gold in the tailings. That is MASSIVE for prem.

[valhalla2017] 05/2/2020 10:43

uh oh. sells in the 0.07s! need more Togo gold updates or maybe more truck photos.

[valhalla2017] 05/2/2020 08:16

No ramp this morning?....seems we’ll have to wait until pdac

[stockport loser] 04/2/2020 16:47

are they the ones you sold on the last pump?

[valhalla2017] 04/2/2020 16:06

should be back to mid 0.07s by tomorrow morning. but give credit where credit is due. the mini ramp worked. hope it gave GR enough time to finalize the offer with primary bid.

[doctor 69] 04/2/2020 13:42

Bought another 3 m just now on top of 2 m earlier

[valhalla2017] 04/2/2020 13:29

boom! all those EPO leaks and the share price can barely hold .08. I think GR needs to tweet some photos of him standing beside the Zim booth. that should help.

[valhalla2017] 04/2/2020 12:02

this morning's epo ramp is running out of steam. GR needs to leak some other 'rumors' to the shareholder group if he wants to get this placing off to cover the trip to paris. should be hearing about TR-1's and JV's this afternoon.

[valhalla2017] 04/2/2020 11:41

hope the trading group made their 3%. good on them taking advantage of indaba. pdac is in a month so should expect a rumor about circum around then. another 3%!

[soultrading] 04/2/2020 09:57

moving higher. The gut never lies

[soultrading] 04/2/2020 09:40

and it ticks up - The beginning of a bigger move

[soultrading] 04/2/2020 09:22

I took more. My gut is often right. At support, double bottom, 200ma and awaiting news. Catalysts for a move higher.