Premier African Minerals (GB:PREM) has released an update.
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Premier African Minerals Limited reported a significant operating loss of US$12.027 million for the first half of 2024 due to construction and optimization costs at its Zulu Lithium mine, despite financial backing from shareholders. The company is exploring strategic options for the Zulu project, including a potential sale or joint venture, and the installation of an additional spodumene float plant, which would require further funding. Amid these challenges, the group is also addressing significant creditor debts and considering additional disapplication authorities to raise the necessary funds.
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