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Premier African Minerals Ltd - Africa-focused minerals and metals project developer - Announces further placing of 65.9 million shares at 0.925 pence each to raise GBP610,000. Chief Executive Officer George Roach has subscribed for 11.9 million shares at the placing price for GBP110,000 in total. Premier African will apply for shares' admission to trading on AIM, expected to take place on or around Thursday next week. Update follows company's original announcement on Monday of placing to raise GBP1.8 million before expenses at 0.925p per share. Premier African says proceeds will fund pilot plant optimisation for its ongoing Zulu lithium and tantalum project in Zimbabwe. Company also reported on Monday that the plant was producing concentrate from both the spodumene and mica flotation circuits. Placing was made via CMC Markets PLC which Premier African today has appointed as joint broker.
Current stock price: 0.88 pence, down 1.9% in London on Friday
12-month change: up 185%
By Emma Curzon, Alliance News reporter
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