Premier African Minerals has acknowledged that there are outstanding issues to be resolved in order to fulfil the specified amount for their first lithium delivery from the Zulu lithium project, which is scheduled for later this month.
The company aims to dispatch approximately 1,000 tons by November 25. To achieve this, it must address current commissioning and optimization challenges, ensure the plant is operating effectively, and maintain a consistent delivery of high-grade ore.
Stark International, the contractor, is actively working to resolve problems related to ore sorting, instrumentation, and material flow, according to Premier.
@Premafrimin Zulu and Corporate Update #PREM
Report on the progress of operations at Premier's Zulu Lithium and Tantalum Project & provide a corporate update which includes the appointment of a new interim Chairman & settlement of Contractor fees of US$2.5 million through the… https://t.co/Azu2teRini pic.twitter.com/0NjLhL0qyn— Share_Talk ™ (@Share_Talk) November 3, 2023
The firm also reported that it is currently producing lithium concentrate at the Zulu project that satisfies the necessary quality standards.
George Roach, the CEO, stated, “Our primary focus at the moment is to meet the initial shipment deadline, and we will issue further updates when appropriate.”
Additionally, Premier disclosed that it has compensated Stark International with fees amounting to US$2.5 million, which were settled through the issuance of shares priced at 0.44p each.
In a change to the executive team, Godfrey Manhambara is set to take over as the non-executive chairman, while George Roach will return to his previous position as the chief executive officer of the board.
