RE: Prem8 Jul 2025 08:41
1.
Premier African Minerals Limited ("Premier" or the "Company") is pleased to announce that further to the announcement on 1 April 2025 ("Announcement"), Premier has entered into a non-binding letter of interest with Glencore International Ag ("Letter") regarding the possible purchase of spodumene concentrate and repayment and/or management of the prepayment amount plus interest owed in respect of the Zulu Lithium and Tantalum Project ("Zulu").
Premier has agreed with Canmax Technologies Co., Ltd to use its best endeavours within the next three months to have the letter issued as a binding agreement subject to pre-conditions inter alia that the plant achieves the required grade and tonnage.
George Roach, CEO, said, "Premier appreciate enormously the commitment and persistence from all to get us to this point.
Our focus is now firmly set on the final completion and optimisation of the spodumene float section".
2.
The FTSE100 listed party to the original LOI (as announced on the 23 April 2025) has agreed that further negotiations between them, Canmax and Premier should proceed as soon as grade and recovery is satisfactory and this is expected to be in either July 2025, based on the insert performance, or middle to late August if Premier needs to wait for completion of the secondary float circuit.
If satisfactory grade comes this week this is going to go absolutely mental and can 10-20x in a flash