Premier African Minerals Ltd - southern Africa-focused miner - Raises GBP1.1 million through issue of 2.8 million shares at 0.04 pence per share. Cash will be used to assist with funding to identify and secure high-value exploration assets in other jurisdictions, payment of certain debts and for general working capital purposes.
Commenting on the placing, Chief Executive George Roach said: "Premier will be in a position to responsibly reassess its Zimbabwean assets and determine the best course of action to generate value for shareholders. I continue to believe in the value of our Zimbabwean assets and it is my fervent desire that the Zimbabwean government will resolve the issues surrounding RHA Tungsten and grant Premier the exclusive prospecting order over the extended area at Zulu Lithium."
Current stock price: 0.042 pence
Year-to-date change: down 53%
By Ife Taiwo; ifetaiwo@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
Premier African Minerals (PREM)