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(PREM) Premier African Minerals Share Chat

Discussion in 'General Share Chat (PREM)' started by rodrod1, Feb 24, 2016.

  1. rodrod1

    rodrod1 member

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    Just thought I would start a thread.

    I have taken a modest initial position. I used to be in this share many moons ago. Things look much different now though!
     
  2. rodrod1

    rodrod1 member

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  3. Lordvader

    Lordvader A Legendary Member

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    Been in PREM for a while now, have just over 5 million shares here and happy with the recent SP clime. Hopefully darwin will be gone soon then we have a raft of news due in the next couple of months
     
    rodrod1 likes this.
  4. Lordvader

    Lordvader A Legendary Member

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    Darwin finally gone RNS

    For immediate release

    24 February 2016


    Premier African Minerals Limited ("Premier" or "the Company")

    Conversion of last remaining loan notes, issue of equity and settlement of loan notes




    Premier African Minerals Limited, the AIM-traded, multi-commodity mining and resource development company focused on Southern and Western Africa, announces that ithas received a notice of exercise by Darwin Capital Limited ("Darwin") to convert the remaining 8 loan notes with an aggregate value of £200,000 into equity ("Conversion Notice").


    All Darwin loan notes are now converted and there is no longer any debt owed to Darwin.


    The loan notes have been used to part fund the re-opening of underground operations at RHA Tungsten (Private) Limited ("RHA"), Premier African Mineral's tungsten project located in Zimbabwe and for general working capital purposes. Premier is the operator of RHA and holds a 49% interest.


    Premier, at its election, has the right to redeem one or all of the outstanding loan notes in cash at 105% of Par Value (equivalent to £26,250 per loan note).


    Should Premier not redeem any loan notes during any one month, Darwin may elect to convert up to 7 loan notes at 105% of Par Value into new Ordinary Shares in Premier at the conversion price, being the lesser of the subscription issue price or 90% of the arithmetic average of the five daily volume weighted average share price per Ordinary Share preceding conversion. Darwin has converted its 7 loan notes for February 2016 (as previously announced on 18 February 2016 and 16 February 2016).


    In addition, the loan notes have certain conversion triggers that enable Darwin to convert the loan notes at 100% of Par Value. As announced on 15 September 2015, Darwin reduced the conversion trigger price of APT from $230 to $130 per mtu until 31 December 2015. As the current price of APT remains below the trigger price of $230 per mtu, Darwin has elected to convert the remaining 8 loan notes at 100% of Par Value (£200,000) at the conversion price of 0.542592p.


    The Conversion Notice was therefore received in aggregate for £200,000 of loan notes issued in April 2015. The loan notes are now fully settled after conversion today.


    George Roach, Chairman and CEO commented, "I am delighted that this debt is now cleared and particularly that our share price and market capitalisation has continued to improve significantly through this process. We are strongly focussed on three objectives that we believe will drive future value; getting RHA profitable, developing our lithium and tantalite assets and adding another low capex early production opportunity in the southern Africa region. At the same time, I need to express my sincere thanks to our shareholders and our advisors for their tremendous support."


    The Company has therefore issued today 36,860,109 new Ordinary Shares to Darwin ("Darwin Shares") at an issue price of 0.542592p.


    The Darwin Shares will rank pari passu in all respects with the existing ordinary shares. Application will be made for the New Shares to be admitted to trading on AIM and admission is expected to take place on or around 1 March 2016.
     
    Latest Given Reputation Points:
    rodrod1: 5 Points (too quick for me lol) Feb 24, 2016
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  5. hocks

    hocks Beer Connoisseur

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    Ive just bought in today as I like the idea of potash tungsten and lithium mining.

    I don't generally like African aim companies and I distrust any company involving Darwin as Ive had previous shares with this method of finance and it didn't end well. so todays news certainly prompted me to buy in.
     
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  6. Foreverfalling

    Foreverfalling A Legendary Member

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    Hi guys. The forum is at

    http://everythingprem.proboards.com
    You need to be approved to sign in after registering but admin are pretty active so won't take long. If you use the same username as here - it should help. I will let them know you're coming.


    I'm quite a small holder with 1.4 million but really happy with how it's going :)
    My average is 0.54p
     
    Comicartwork, rodrod1 and Inspiration like this.
  7. WhatTheHeck

    WhatTheHeck Down but not out

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    Well, I've bought in at .717 - so lets hope some of the good news begins to flow.
     
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  8. Foreverfalling

    Foreverfalling A Legendary Member

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    Great buy price. didn't go quite as planned today. We got up to 0.98 on the news but looks to be a largeish seller unloading. They probably bought in low around the 0.3p and have made a good profit.

    Or maybe they've got back to their break even. I know many here have high averages of a penny or more which is another great reason for confidence. Most of them aren't going to sell straight away. They've been here for a while because they believe in the story here and are at least holding for sale of the circum minerals.
     
    rodrod1 likes this.
  9. rodrod1

    rodrod1 member

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    Increased my holding on the basis that the sp will move on ahead when its ready. its not unusual to see a breather before finding new ground. Lots of potential here now that Darwin have done, hopefully :)
     
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  10. Foreverfalling

    Foreverfalling A Legendary Member

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    I think that's a pretty good call. There's definitely a seller holding it back but it's holding steady.

    It's not a mass sell off and the fundamentals are very strong.
     
    rodrod1 likes this.
  11. Foreverfalling

    Foreverfalling A Legendary Member

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    Looks like the seller may have cleared. Starting to tick up.
     
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  12. rodrod1

    rodrod1 member

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    There were a string of buys caused the move up....now paying above the bid for the last 2 sells. I expect it might spike upwards if indeed the seller has emptied his tank.
     
  13. rodrod1

    rodrod1 member

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    Darwin trade posted after hours? 39m shares
    might be a good day tomorrow :)
     
  14. Foreverfalling

    Foreverfalling A Legendary Member

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    Yeh they can't have many left to shift now. It was obviously from a few days ago but the word is that they weren't involved in the latest placing so must be clear soon.

    I think if they are not already cleared they will be cleared when the resource upgrade is issued. That can't be long now.
     
    rodrod1 likes this.
  15. drc

    drc Demi God of BlueShare

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    Scanning through a few of the usual suspects looking for a short quick rise:
    I like this chart, there is a case for saying this is bouncing up off the green support line, which is stronger than the red resistance. Additionally the volume suggests that there is appetite for a move.
    As always - DROUP... (Don't Rely On Unknown Posters), particularly with a box of crayons.

    Screenshot_20160301-062914.png
     
    rodrod1 likes this.
  16. rodrod1

    rodrod1 member

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    see RNS today..,on phone so can't post it
     
  17. jackjack

    jackjack Administrator Staff Member

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    RNS 01/03/16

    Premier African Minerals Limited, the AIM-traded, multi-commodity mining and resource development company focused on Southern and Western Africa, is pleased to announce that it has today received a direct subscription for £500,000 of new ordinary shares.

    "The capital will support existing project development requirements and general working capital in the period leading up to achieving positive operational cash flow from RHA that is expected this spring and we do not currently anticipate any further need to approach the market for finance to support general working capital in this period. In addition, the ongoing market conditions in the natural resource sector will in our view continue to present potential attractive opportunities for the Company to further expand its natural resources portfolio of assets and the proceeds of the subscription will also provide the Company with additional capital to consider any such opportunities (with a focus on near term production or cash flow) as and when they arise."

    The Company has today issued, conditional on admission, 100,000,000 new ordinary shares ("Subscription Shares") at a subscription price of 0.5 pence per Subscription Share (the "Subscription").

    The Subscription Shares will, when issued, rank pari passu in all respects with the existing ordinary shares. Application will be made for the Subscription Shares to be admitted to trading on AIM and admission is expected to take place on or around 7 March 2016.

    Following the issue of the New Shares, the Company's issued share capital consists of 1,739,547,103 Ordinary Shares, with voting rights. This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.


     
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  18. Foreverfalling

    Foreverfalling A Legendary Member

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    Rubbish and unexpected. Fully funded now but not happy!
     
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  19. rodrod1

    rodrod1 member

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    Its a great time for the Company to be cashed up. We might be surprised and see this move up now that the sellers have got their cheap shares in the placing.....Cant change the past! and its just how these things are done - very difficult market for raising funds.
     
  20. Foreverfalling

    Foreverfalling A Legendary Member

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    Yes you speak a lot of sense. Sounds very possible.
     

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