IN BRIEF: Premier African Minerals partner confirms after equity raise
20th Jan 2025 11:48
Premier African Minerals Ltd - developing RHA tungsten and Zulu lithium projects in Zimbabwe - Raises GBP1.2 million in a placing of 4.34 billion new shares at 0.0275 pence each. Also makes a retail offer of shares at the same price to raise up to a further GBP2.3 million, which would bring the total raise to GBP3.5 million. The funds will be used to restart operations at the Zulu lithium and tantalum project, where money is needed to commission the primary flotation plant and to purchase a secondary plant. Premier also needs to pay taxes to the Zimbabwe government and wage arrears to employees. Premier also hopes to issue new shares to settle liabilities with some of its creditors. Read More