Premier African Minerals, a multi-commodity mining and natural resource development company, has successfully raised £550,000 (before expenses) through the issuance of approximately 1.75 billion shares at an issue price of 0.0315p each.
The AIM-listed company is focused on advancing its RHA tungsten and Zulu lithium projects in Zimbabwe. It underscores the importance of meeting essential operational needs at both the corporate and project levels, especially as it considers options for progressing the Zulu project.
The company is exploring various possibilities, including a full or partial sale of the Zulu project, entering into a joint venture, or installing an additional spodumene flotation plant.
“We are making progress, and I expect a resolution to this final challenge, after which we anticipate producing at grade and design recovery,” said Premier CEO George Roach.
“The alternatives mentioned are currently under active negotiation, and we are optimistic about a favorable outcome.”
