Premier African Minerals Limited (AIM: PREM) has warned that it needs additional funding to meet its financial obligations after securing roughly £500,000 in interim financing to cover consumables and working capital.
The company is facing a US$2.3 million payment demand from JR Goddard Contracting, alongside a previously stayed judgment of US$2.5 million, of which US$2.1 million has already been paid. As of 30 November 2025, total group liabilities stood at US$62.143 million, including US$15.035 million owed to trade creditors.
Premier said that extending the Long Stop Date under its Offtake and Prepayment Agreement is critical to unlocking the funding required to stabilise its position. Without such an extension, the company warned there could be a material adverse impact on the Zulu Lithium Project and on Premier’s ability to continue as a going concern.
Management emphasised that securing the extension remains its top priority as it works to restructure obligations and pursue longer-term financing solutions.
Shareholders should note there is further no guarantee that the further funding will be secured on terms acceptable to the Company and in the event that further funding arrangements cannot be secured within the required timeframe and on acceptable terms, this could have a material adverse effect on both Zulu Lithium and the financial position of the Company as a whole which could cast significant doubt on the Group’s ability to continue as a going concern.
