Business
Placing and Funding of Ongoing Zulu DFS
Placing and Funding of Ongoing Zulu DFS.
About this update from Premier African Minerals Ltd.
[{"type":"text","content":"\n \n \n \n RNS Number : 8198I\n Premier African Minerals Limited\n 17 August 2021\n \n \n \n \n Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining\n \n \n For immediate release\n \n \n \n \n \n 17 August 2021\n \n \n Premier African Minerals Limited\n \n \n \n \n \n Placing and Funding of Ongoing Zulu DFS Programme\n \n \n \n \n \n The Board of Premier African Minerals Limited (\"Premier\" or the \"Company\") is pleased to announce a placing today to raise £1,000,000 before expenses at an issue price of 0.2 pence per new ordinary share for the ongoing Definitive Feasibility Study (\"DFS\") at the Company's Zulu Lithium project in Zimbabwe (\"Zulu\").\n \n \n George Roach, CEO commented: \"Now that we are properly established on site with an expanding base camp, the first two rigs operating, plans for a third rig and the general work on the DFS underway, it is also time to direct more effort and resource into the rest of the Exclusive Prospecting Order (\"EPO\") of some 205 square kilometres.\n \n \n \n \n Our exploration teams are appointed, airborne geophysics and other remote sensing has been commissioned and we have high expectations for both additional Lithium, Caesium and Tantalum pegmatite discovery and other potential in respect of the Fort Rixon greenstone belt that intrudes into parts of the EPO area. \n \n \n \n \n The EPO area includes known gold mineralisation and historic reports of producing gold mines. Premier's portfolio of exploration assets and our interest in the producing manganese operations at Otjozondu in Namibia, are representative of an \"in demand\" basket of industrial minerals and with improving economics and elevated demand, Premier is well positioned to ride this wave of interest in our Lithium, Tungsten, Manganese, Rare Earths, gold and fluorspar deposits and exploration projects.\"\n \n \n \n \n Placing\n \n \n \n \n \n Premier has today issued by way of a placing (\"Placing\"), conditional on admission, 500,000,000 new ordinary shares of nil par value (\"Placing Shares\") at a Placing price of 0.2 pence per Placing Share. The Placing Shares will, when issued, rank pari passu in all respects with the existing ordinary shares. Monecor (London) Ltd, trading as ETX Capital (\"ETX Capital\"), acted as the Company's sole p...