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The latest announcement is out from Premier African Minerals ( (GB:PREM) ).
Premier African Minerals Limited has updated its shareholders on its funding plans and creditor situation, particularly concerning its Zulu Lithium project. The company has raised interim funds to support essential operations but still requires additional financing to meet its obligations and continue with its Phase 5 ‘Pre-production Readiness.’ The company faces significant financial challenges, including a demand for payment from a creditor and substantial group liabilities, which could impact its ability to continue as a going concern if further funding is not secured.
More about Premier African Minerals
Premier African Minerals Limited is a multi-commodity mining and natural resource development company focused on Southern Africa, with key projects including RHA Tungsten and Zulu Lithium in Zimbabwe. The company has a diverse portfolio that includes tungsten, rare earth elements, lithium, and tantalum in Zimbabwe, as well as lithium and gold in Mozambique, ranging from brownfield projects with near-term production potential to grassroots exploration.
Average Trading Volume: 77,004,404
Technical Sentiment Signal: Strong Sell
Current Market Cap: £5.85M
Find detailed analytics on PREM stock on TipRanks’ Stock Analysis page.