9th Apr 2015 08:45
LONDON (Alliance News) - Premier African Minerals Ltd on Thursday said it has reached a deal with Chairman George Roach on a USD250,000 bridging loan facility.
The loan will provide further funding to the company to back the continuing construction of the RHA Tungsten Project in Zimbabwe and will provide additional working capital.
The company and Roach have also agreed the repayment and conversion terms of the current loan outstanding to Roach, which amounted to USD766,692 on Thursday.
Shares in Premier African were down 0.8% to 1.59 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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