Premier African Minerals Amends Agreement with Canmax for Zulu Project

Story Highlights
  • Premier African Minerals amends agreement with Canmax for Zulu Project.
  • The amendment extends the Long Stop Date and includes conditions for financial oversight and share issuance.
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Premier African Minerals Amends Agreement with Canmax for Zulu Project

Premier African Minerals ( (GB:PREM) ) has shared an update.

Premier African Minerals Limited has announced an amendment to its Offtake and Prepayment Agreement with Canmax Technologies Co., Ltd regarding the Zulu Lithium and Tantalum Project. The amendment extends the Long Stop Date to either December 31, 2025, or upon securing a reputable buyer to manage Canmax’s prepayment amount. This agreement is contingent on several conditions, including Canmax’s financial oversight and the issuance of new shares to Canmax. The revised terms aim to address uncertainties and align Canmax’s intentions with Premier’s strategic goals, potentially impacting Premier’s operational and financial strategies.

More about Premier African Minerals

Premier African Minerals Limited is a multi-commodity mining and natural resource development company focused on Southern Africa, with projects in Zimbabwe and Mozambique. The company has a diverse portfolio that includes tungsten, rare earth elements, lithium, tantalum, and gold, with interests in both brownfield projects with near-term production potential and grassroots exploration.

YTD Price Performance: -22.50%

Average Trading Volume: 842,843,433

Technical Sentiment Signal: Buy

Current Market Cap: £14.4M

Learn more about PREM stock on TipRanks’ Stock Analysis page.

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