Premier African Minerals Limited has completed a subscription raising approximately £1 million before expenses through the issue of new ordinary shares at 0.0185 pence per share, while also reporting further operational progress at its Zulu Lithium and Tantalum Project in Zimbabwe.
The fundraising comes as the company advances commissioning activities at the new flotation plant at Zulu Lithium, where management said the majority of cold commissioning work has now been successfully completed.
Managing Director Graham Hill said the company was encouraged by the operational performance observed during the initial wet commissioning phase, with water now introduced throughout the flotation circuit.
Hill noted that the company is preparing to move into hot commissioning, which will involve introducing ore into the process plant — a key milestone in the broader commissioning and optimisation programme.
The flotation cell scraper paddles have not yet been connected during the current water-only testing phase but are expected to become operational once reagents and ore feed are introduced during spodumene froth recovery activities.
The company also confirmed that conveyor systems have been returned to operation and testing of newly installed bypass chutes — replacing previously unused sorting equipment — has been completed successfully. In addition, the crushing circuit has already been recommissioned using ore.
Premier African Minerals said all commissioning activities remain on track for its previously guided Q2 2026 timeline.
Management believes the latest progress marks another important step towards achieving stable operations at Zulu Lithium, which is expected to become a significant source of spodumene concentrate and tantalum production.
