Premier African Minerals Ltd - British Virgin Islands-based minerals and metals project developer - Signs joint venture agreement with Li3 Resources Inc in which Li3 will purchase a 50% interest in Premier African's hard-rock lithium assets in the Mutare Greenstone Belt in Zimbabwe.
Li3 has until the end of December to purchase the stake by spending USD250,000 in exploration works.
"The Li3 project is located in a region in Zimbabwe that is receiving significant interest in both Lithium and potential gold deposits. The claim blocks are well located and, in several instances, have already attracted interest from international lithium producers. Of particular importance is that Li3 Resources plans to list on the Toronto Stock Exchange and this brings to Zimbabwe, widened international interest and investment," says Chief Executive Officer George Roach.
Current stock price: 0.32 pence, up 5.9% on Monday
12-month change: up 62%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Premier African Minerals (PREM)