Premier African Minerals Limited (AIM: PREM) has entered into a mutual release and settlement agreement with J R Goddard Contracting (Private) Limited, resolving the Writ of Execution relating to movable property at the Zulu Lithium and Tantalum Project.
Under the terms of the agreement, Premier African Minerals will pay J R Goddard a total of US$2.4m plus interest. An initial payment of US$400,000 is due by 30 January 2026, with the balance to be settled through monthly instalments running to November 2026.
The settlement removes a key operational overhang and provides greater certainty, enabling the company to progress funding discussions and operational initiatives at Zulu Lithium. In parallel, Premier African Minerals said it is prioritising the appointment of additional technically focused directors to strengthen the board and support the next phase of project development.
Board Composition
Following the announcement of the Board change on 5 January, the Board recognises the need to strengthen its composition as soon as practicable and accordingly, the Board is actively reviewing and progressing the appointment of additional directors.
The Board’s objective is on identifying technically focused candidates with the capacity to make a real contribution, and with relevant market experience to support the next phase of development at Zulu Lithium. This process is being treated as a priority, and the Board will provide further updates to shareholders in due course.
