18th Feb 2016 10:17
LONDON (Alliance News) - Premier African Minerals Ltd on Thursday said it received a notice of exercise by Darwin Capital Ltd to convert nine loan notes worth GBP232,500 into equity.
The loan notes have been used to part-fund the re-opening of underground operations at RHA Tungsten (Private) Ltd in Zimbabwe as well as for general working capital purposes. Premier holds a 49% interest in RHA.
This means Premier African has issued 79.7 million shares to Darwin at 0.291798 pence each.
Shares in Premier African were trading up 26% at 0.725 pence on Thursday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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