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Pin to quick picksPremier African Minerals Regulatory News (PREM)

Share Price Information for Premier African Minerals (PREM)

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Approval of further funding for Zulu Project

11 Sep 2023 07:00

RNS Number : 9919L
Premier African Minerals Limited
11 September 2023
 

11 September 2023

Premier African Minerals Limited

 

Approval of further funding for Zulu Project

Premier African Minerals Limited ("Premier" or the "Company") is pleased to announce that Canmax Technologies Co., Ltd. ("Canmax") has confirmed it has now received Chinese Regulatory Approval for its subscription under which Premier has raised a further £5 million before expenses at an issue price of 0.35 pence per new ordinary share for the ongoing Zulu Lithium and Tantalum Project ("Zulu") Optimisation (the "Subscription") as announced on 30 August 2023.

Admission Update

The Subscription had been arranged within the Company's existing share authorities and the 1,428,571,428 new ordinary shares ("Subscription Shares") will, when issued, rank pari passu in all respects with the existing ordinary shares. Application has been made for the Subscription Shares to be admitted to trading on AIM and admission is now expected to take place on or around Friday, 15 September 2023.

 

Total Voting Rights

Following the issue of the Subscription Shares, the Company's issued share capital will consist of 25,407,477,694 Ordinary Shares, with voting rights. This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

 

Market Abuse Regulation

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018.

 

The person who arranged the release of this announcement on behalf of the Company was George Roach.

 

A copy of this announcement is available at the Company's website, www.premierafricanminerals.com

Enquiries:

George Roach

Premier African Minerals Limited

Tel: +27 (0) 100 201 281

Michael Cornish / Roland Cornish

Beaumont Cornish Limited

(Nominated Adviser)

Tel: +44 (0) 20 7628 3396

Douglas Crippen

CMC Markets UK Plc

Tel: +44 (0) 20 3003 8632

Toby Gibbs/Rachel Goldstein

Shore Capital Stockbrokers Limited

Tel: +44 (0) 20 7408 4090

 

 

Notes to Editors:

Premier African Minerals Limited (AIM: PREM) is a multi-commodity mining and natural resource development company focused on Southern Africa with its RHA Tungsten and Zulu Lithium projects in Zimbabwe.

 

The Company has a diverse portfolio of projects, which include tungsten, rare earth elements, lithium and tantalum in Zimbabwe and lithium and gold in Mozambique, encompassing brownfield projects with near-term production potential to grass-roots exploration. The Company has accepted a share offer by Vortex Limited ("Vortex") for the exchange of Premier's entire 4.8% interest in Circum Minerals Limited ("Circum"), the owners of the Danakil Potash Project in Ethiopia, for a 13.1% interest in the enlarged share capital of Vortex. Vortex has an interest of 36.7% in Circum.

 

In addition, the Company holds a 19% interest in MN Holdings Limited, the operator of the Otjozondu Manganese Mining Project in Namibia.

 

Ends

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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Date   Source Headline
11th Feb 20229:06 amRNSSecond Price Monitoring Extn
11th Feb 20229:00 amRNSPrice Monitoring Extension
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2nd Sep 20217:00 amRNSZulu Update
31st Aug 20217:00 amRNSOtjozondu Loan Extension and Funding
27th Aug 20217:00 amRNSHolding(s) in Company
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16th Aug 20217:00 amRNSZulu Updated Scoping Study
6th Aug 20219:00 amRNSRHA and Zulu Update
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19th Jul 202111:05 amRNSSecond Price Monitoring Extn
19th Jul 202111:00 amRNSPrice Monitoring Extension
14th Jul 20214:00 pmRNSZulu Lithium Update
28th Jun 20215:01 pmRNSFinal Results
23rd Jun 202111:06 amRNSSecond Price Monitoring Extn

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