Multi-commodity mining and natural resource development company Premier African Minerals has raised £550 000, before expenses, through the issue of about 1.75-billion shares at an issue price of 0.0315p each.
The Aim-listed company, which is developing the RHA tungsten and Zulu lithium projects, in Zimbabwe, says it remains of fundamental importance that it continue to support all essential operational requirements at the company level, as well as project level, while it considers options on how best to move the Zulu project forward,
Premier notes that these options include a possible sale of the project, either in its entirety, partially or as a joint venture, or the potential installation of an additional spodumene float plant.
“We are making progress, and I do expect a resolution to this final problem after which we do expect to produce at grade and at design recovery. The alternatives set out above are under active negotiation and a satisfactory outcome should result,” says Premier CEO George Roach.
(Mining Weekly)
