Premier African Minerals Secures £1.38m to Boost Zulu Lithium and Tantalum Development in Zimbabwe
London-listed Premier African Minerals has announced a successful subscription to raise £1.38 million (before expenses) to support the advancement of its flagship Zulu lithium and tantalum project in Zimbabwe.
The funding will be directed towards several key priorities:
Refining and optimizing the primary flotation plant to improve efficiency and recovery.
Potential development of an alternative spodumene flotation plant, subject to the ongoing review announced earlier this month.
Partial funding of operating expenses and debt settlements, while negotiations under a previously announced nonbinding letter of interest continue.
General working capital to support ongoing operations.
“We are very pleased to have completed this capital raise at a price representing a significant premium to our last funding round, and see this as clear recognition of the progress we are making,” said CEO George Roach.
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