Premier African Minerals Limited (AIM: PREM) said it has received a Writ of Execution from JR Goddard Contracting at its Zulu Lithium and Tantalum Project in Zimbabwe, relating to the enforcement of a previously stayed court judgment.
The writ seeks to recover approximately US$2.2 million, stemming from a US$2.5 million judgment awarded in favour of the contractor. Premier said it remains in active dialogue with JR Goddard Contracting and is working to manage the situation.
The company believes that any movable property that may be attached under the writ could be recovered through further payment arrangements, subject to the financial position and cash flows at the Zulu Lithium project. Premier added that discussions with the creditor are ongoing as it seeks a pragmatic resolution.
A copy of this announcement is available at the Company’s website, www.premierafricanminerals.com
Enquiries:
Graham Hill
Premier African Minerals Limited
Tel: +27 (0) 100 201 281
