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Premier African Minerals ( (GB:PREM) ) has provided an announcement.
Premier African Minerals Limited announced the issuance of 1,666,666,667 new ordinary shares at 0.012 pence per share to settle £200,000 of accrued interest on a loan from George Roach. This issuance represents 2.1% of the current issued share capital, bringing Roach’s total interest to 3.8% of the company. The company has extended the loan repayment terms, conditional on no further defaults, until June 2026 or until a suitable buyer is found for outstanding debts to Canmax Technologies Co., Ltd. This move is part of Premier’s strategic financial management to stabilize its operations and maintain investor confidence.
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 like 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: 1,791,180,410
Technical Sentiment Signal: Sell
Current Market Cap: £13.99M
See more data about PREM stock on TipRanks’ Stock Analysis page.