The latest update is out from Premier African Minerals ( (GB:PREM) ).
Premier African Minerals Limited has announced a subscription to raise £1.575 million to fund the Zulu Lithium and Tantalum Project. This funding is crucial for completing the commissioning and optimization of flotation plants at Zulu, which is essential for achieving the required grade and tonnage to secure a binding agreement for future development. The company has issued 4.5 billion new ordinary shares and plans to use the proceeds for the secondary flotation plant, civil works, and general working capital. Despite this funding, Premier will require further financial support to meet operating costs and settle creditors, highlighting the ongoing financial challenges faced by the company.
More about Premier African Minerals
Premier African Minerals Limited is a multi-commodity mining and natural resource development company focused on Southern Africa, with its RHA Tungsten and Zulu Lithium projects in Zimbabwe. The company has a diverse portfolio of projects, including 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.
YTD Price Performance: 20.0%
Average Trading Volume: 1,018,332,319
Technical Sentiment Signal: Buy
Current Market Cap: £13.94M
See more insights into PREM stock on TipRanks’ Stock Analysis page.