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Premier African Minerals ( (GB:PREM) ) has issued an update.
Premier African Minerals Limited has announced a retail offer to raise up to £2.3 million by issuing new shares, alongside a separate placing to raise an additional £1.2 million. The proceeds are intended to finalize the commissioning of the Primary Flotation Plant and purchase a Secondary Plant, which are crucial for resuming operations at the Zulu Project. These funds will also help address immediate financial obligations, such as deferred VAT, employee salaries, and payments to suppliers, ensuring the company’s operational continuity and strengthening its financial position.
More about Premier African Minerals
Premier African Minerals Limited is involved in the mining industry, focusing on the extraction and development of lithium and tantalum. The company is working on the Zulu Lithium and Tantalum Project, leveraging its market position to strengthen its operations and financial standing.
YTD Price Performance: -7.50%
Average Trading Volume: 199,464,960
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £13.69M
See more data about PREM stock on TipRanks’ Stock Analysis page.
