Premier African Minerals Limited

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.
Deal price
0.275
Discount of 16.5 %
Last Price 0.33p p

Key information

Key information

Sector

Mining

Close date

Delivery

Placing price

Last price

Discount

Amount raised

0.275

0.33 p

16.5 %

£2,475,000

Company description

Premier African Minerals Limited (“Company” or “Premier”) is currently developing a portfolio of strategic metals and mineral projects located across Africa.

Premier is an emerging spodumene producer from the Zulu Lithium and Tantalum Project and has a Tungsten operation in Zimbabwe, RHA Tungsten which remains subject to a shareholder restructuring with Government of Zimbabwe who hold 51% of the project. In addition, the Company has an interest in MN Holdings Limited, the owner and operator of the Otjozondu Manganese Mining Project in Namibia. Premier has a 50% interest in the Li3 Project in Mutare, Zimbabwe and now responsible for the full technical management function of the Li3 Project.

Use of proceeds

The proceeds will be used specifically for direct operating expenses at Zulu, that includes final payments related to the thickener purchase and installation, final payments related to the ball mill and associated hydrosizers, transport and installation thereof, plant operating spares and reagents, mining costs, and day to day operating expenses including diesel.

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