It certainly wasnt priced in @ 0.4p.
MCAP under £13m.
Circum must account for 50% of that, even though its illiquid and wouldnt be worth that in a firesale, however Zulu is possibly worth all if not more than the mcap.
The only worry remaining is funding to cover overheads.
If GR lends the money like before we could be ok, or he has to raise the ceiling and call an EGM. AT what price would an equity raise take place?
0.15p would give us £1.5 m per billion shares. That makes the last PB raise look good!!
We need to know what shareholder will get in new Zulu co. If £1:£1 then buying now is a great option.
Not looking so good now.
Just got a mail informing limit lifted ( D ) at low ball 0.21p
They have a broker total limit so just took the small amount available at weekend.
They get bad prices so it must of went below and heading south for that deal to go .
Had a little top up .
limit was not lifting at last weeks declined offer of 0.2174 ( X ) i regretted not accepting that.
Saw trades had gone through at that price so canceled and got live price @ 0.2117.
Worked that out as £26 cheaper per £1000 ?
Nice one covered lunch and dinner :-)
Gary Newman has bloged .
Raising money via Primary Bid suggests city is not interested.
( why do they promote it then ? , they claim to well guide there readers , who now pay )
He is not rushing in at this falling price as its not worth it.
for George to say that its other people who have processed the wrong stuff is a joke. he or his nearest and dearest should have been on site working out what should be put thru the plant first at the most profitable rates to pass the buck means he is either not in control or stupid to let someone esle make the wrong decisions either way he needs to be fired.
Premier also has an interest in Casa Mining Limited, a privately-owned exploration company that has a 71.25% interest in the 1.5 million ounce inferred resource Akyanga gold deposit in the DRC.
Extract from latest RNS.
This statement is patently untrue because CASA is now over 80% ownwd by Ortac Resources (OTC), an AIM listed company which is NOT privately owned.
Its about time PREM stated its position regarding CASA because OTC has announced recently that it should hold 100% of CASA within the next few weeks.
IsPREM selling its stake to OTC as part of the offer or not ????
just seems to me that with the grades of wolframite being very good that not being able to break even gives me the feeling that some of the W is being stolen at gates . dont know wether george has got the right people in situ. I think there is more yo this than he can say at present
Great results from Zulu. The drilling needed to move this from the inferred to the indicated measured category is ongoing. When will the MR be updated. That will move the SP as potential buyers will take note.
I agree and have mentioned before about mothballing RHA, no more circum. All those monies should have been used to fast track Zulu through to DFS, to give us something on the balance sheet. A SAMREC compliant 20mt or 40mt of lithium in the measured category with further levels in the Indicated, would value us far in excess of where we are now. Then use JV/sale funds to progress RHA or purchase Circum.
It feels like GR has been spun a yarn to buy Circum quickly and now he sees that nothing is occurring there right now. All efforts went to buying Circum, including poor finance. When you buy something discounted by say 25% and finance it with dilution of 20% after repaying finance at a 20% premium, it's suddenly not a bargain. (figures are made up).
It'sworth a few £m on our balance sheet, but not a lot if we are desperate to sell it. One day that may change, but not at this moment in time.
" The mineralisation and assay results from this hole are spectacular"
This is a true statement. The other two are possibly true.
Due to RHA draining the company of funds and causing massive dilution, a lot of investors don't like the risk. We won't become bankrupt as GR will call an EGM to issue more equity and we will have to oblige to continue as a going concern.
The RHA news was confusing, possibly that was intentional. We shouldn't need anymore funding at RHA unless it is profitable. Monies would be needed to bridge between dispatch & payment for product. Maybe two to three months. If it is not profitable are we talking of mothballing RHA and selling our equipment, if so, where do we stand with Afmine?
Well I have sold out at a loss and have added to my holding in QFI, much less dilution , much less expense and hopefully and guaranteed income after an RNS that is promised to be delivered this year!!!
Sadly no sign of this coming good until real money is delivered
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