RE: Prem11 Sep 2023 16:10
The Placing has been arranged within the Company's existing share authorities. Premier intends to use the proceeds of the Subscription principally to provide funding to support the ongoing optimisation of the plant at Zulu and general working capital. In particular, Premier anticipates using the proceeds of the Subscription, together with the proceeds of the Placing announced on 25 August 2023, to meet the costs associated both with the interim mill installation that is expected to see production at 1,000 ton per month of spodumene from November 2023, the installation of a thickener and larger ball mill that is expected to see the plant achieve design throughput from Q1 2024.
'Working Capital ' The inclusion of those words gives me the impression they are tight on money otherwise why include them?
I know in some cases they are standard phraseology ,here in view of past events/track development record there may be more delays