1st Mar 2016 09:12
LONDON (Alliance News) - West Africa-focused resources development company Premier African Minerals Ltd on Tuesday said it has raised GBP500,000 through a subscription agreement.
The company has issued 100.0 million shares at 0.5 pence per share. It shares were down 13% to 0.562p Tuesday morning, one of the worst performers in the AIM All-Share.
George Roach, Premier African's chairman and chief executive, said the funding will support ongoing work on the RHA tungsten project in Zimbabwe and will provide funding for the group to pursue any acquisition opportunities which may be presented amid the tough trading environment for the mining industry.
By Sam Unsted; [email protected]; @SamUAtAlliance
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