9th Aug 2023 21:06
Premier African Minerals Ltd - Zimbabwe-focused tungsten producer - Says it previously entered a loan facility agreement with George Roach for up to GBP1.7 million, but has on Wednesday agreed to increasing its size to GBP2 million, and to waive any interest on a repayment of the facility in cash.
Premier will make one request of a draw-down under the amended facility in the amount of GBP2 million. The loan is unsecured, there are no arrangement fees, and as previously announced, the company needs funding to meet its immediate working capital needs.
Says that the funds will be used for otherwise unfunded general working capital purposes including ongoing operational expenses at Zulu, pending the completion of remedial work on the plant and the start of commercial production.
Current stock price: 0.53 pence
12-month change: up 66%
By Holly Beveridge, Alliance News reporter
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