1st May 2015 16:09
LONDON (Alliance News) - Premier African Minerals PLC Friday said Darwin Strategic Ltd has elected to convert GBP250,000 of zero coupon senior unsecured convertible loan notes into equity.
The note has been used to part fund the development of RHA Tungsten (Private) Ltd, Premier African Mineral's flagship Tungsten project located in Zimbabwe. Premier is the operator of RHA and holds a 49% interest.
As a result of Darwin converting the loan notes, the company issued 18.5 million new shares at 1.35 pence per share to Darwin.
Premier shares closed up 2.8% to 1.83 pence per share on Friday.
By Joshua Warner; [email protected]; @JoshAlliance
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