Premier African Minerals Share News (PREM)

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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AFC Energy PLC - Cranleigh, England-based provider of hydrogen power-generation technologies - Announces completion of the first build of its new LC30 30kW liquid-cooled fuel cell generator, which is now undergoing operational testing and producing power in line with design specifications. AFC says the next-generation unit delivers an estimated 85% reduction in manufacturing costs versus the previous model, with a smaller footprint, higher efficiency and wider operating temperature range, supporting commercial rollout and future order conversion.

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Firering Strategic Minerals PLC - Zambia and Ivory Coast-focused mining company - Says Yuval Cohen has stepped down with immediate effect as chief executive officer to focus on his role as CEO of Limeco Resources, its producing lime asset in Zambia. Firering appoints Chair Youval Rasin as interim CEO while a permanent replacement is found. The firm starts hot commissioning of Kiln 2. The company intends to exercise the next tranche of the Limeco option, to increase its shareholding to 36%. "This is a pivotal period for Firering as Limeco enters its production growth phase. Increasing our ownership, strengthening leadership at the asset level and commencing hot commissioning of Kiln 2 demonstrate our clear focus on scaling our flagship operation," says Chair and Interim CEO Rasin.

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Cloudbreak Discovery PLC - London-based gold and metals project developer targeting Western Australia - Completes acquisition of three Western Australia gold assets. The assets are the Darlot West gold project and expansion, and the Crofton gold project. The firm will issue 117 million new shares in satisfaction of the consideration payable under the three option agreements. "We are extremely delighted that we can now conclude the acquisition of these tenements that have provided the company with such outstanding gold results in the past months and we look forward to reporting many more," says Managing Director Tom Evans.

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Foxtons Group PLC - London-based real estate and lettings agency - Acquires Birmingham-based lettings specialist FleetMilne for an initial GBP3.2 million, with up to GBP800,000 deferred subject to performance. Foxtons says the deal expands its footprint into Birmingham, with around 95% of FleetMilne's revenue from lettings, and supports its strategy to grow non-cyclical, recurring earnings. FleetMilne reported unaudited revenue of GBP1.5 million and pretax profit of GBP200,000 for the year to September 2025. Foxtons expects the acquisition to be earnings accretive from 2026 and targets a 20% return on investment over the medium term.

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Literacy Capital PLC - makes long-term investments in private UK businesses and donates to literacy and education charities - Sells Tyrefix to Nordic tyre management provider Citira AB for cash proceeds of GBP14.7 million, a 59% premium to carrying value. Literacy Capital says the disposal delivers a 2.5x money-on-money return with a 25% internal rate of return. Together with the previously announced sale of Wifinity, the company expects first-quarter 2026 cash inflows to be the highest in its history and says the proceeds will be used to fully repay its revolving credit facility, moving the balance sheet to a net cash position.

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Premier African Minerals Ltd - developer of RHA tungsten and Zulu lithium projects in Zimbabwe - Announces a GBP1.0 million subscription at an issue price of 0.03 pence per share to fund its Zulu Lithium and Tantalum Project in Zimbabwe. Premier also settles around GBP140,000 of supplier invoices and accrued salaries through the issue of new shares at the same price. The company says proceeds will be used primarily to complete the purchase and installation of a new 15–20 tonnes-per-hour Xinhai flotation plant at Zulu, alongside operating costs, creditor management and general working capital.

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Kefi Gold & Copper PLC - gold and copper exploration and development in Ethiopia and Saudi Arabia - Says its banking syndicate has signed final documentation for a USD240 million loan facility to fund development of the Tulu Kapi gold project. Kefi adds that documentation for the remaining USD50 million of its USD100 million equity-risk capital package is in final stages, with full financial close targeted for February 2026. The company says early works at Tulu Kapi have begun, including community resettlement payments, land clearing, contractor mobilisation and power connection works. Kefi notes the update comes as the gold price trades above USD4,700 per ounce.

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By Eva Castanedo, Alliance News reporter

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