IN BRIEF: Premier African Minerals launches fundraise for Zulu project
Premier African Minerals Ltd - developer of RHA tungsten and Zulu lithium projects in Zimbabwe - Announces subscription to raise GBP1.4 million before expenses, for its Zulu lithium and tantalum project. Company has issued through a direct subscription 6.00 billion shares at 0.023 pence each. Says its "principal" priorities are, firstly, to fund the ongoing refining and optimising of the primary flotation plant. Secondly, funding will be provided for the alternative spodumene float plant, should this proceed. Lastly, the proceeds will partially fund "certain operating expenses and debt settlements" while negotiations for a potential purchase of spodumene, as outlined in the non-binding letter of interest announced in April, are concluded. Some proceeds will also go towards general working capital. Read More