31st Oct 2018 16:00
LONDON (Alliance News) - Premier African Minerals Ltd on Wednesday said the Zimbabwean government has asked for a further two days to restructure a company in which the company has a 49% interest.
RHA Tungsten Pvt Ltd, which owns the RHA tungsten mine in Zimbabwe, is being restructured in a move which would see Premier African raise its holding to 90%, through the capitalisation of its loans to the company into new shares.
PAM had said mid-October it expected the process to be finished by the end of October, but this will now not be met.
Shares in Premier African were 3.3% higher on Wednesday in late trade at a price of 0.18 pence each.
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