{"id":140581,"title":"Premier African Minerals Extends Canmax Long Stop Date to End of 2026","publisher":"Share Talk","author":"sharetalk","published":"2026-09-14T10:02:45+00:00","modified":"2026-09-14T10:02:45+00:00","canonical_url":"https://www.share-talk.com/premier-african-minerals-extends-canmax-long-stop-date-to-end-of-2026/","markdown_url":"https://www.share-talk.com/premier-african-minerals-extends-canmax-long-stop-date-to-end-of-2026.md","json_url":"https://www.share-talk.com/premier-african-minerals-extends-canmax-long-stop-date-to-end-of-2026.json","category":"Mining","categories":["Mining"],"tags":["George Roach","Graham Hill","Mineral Resource","Mr Pei Zenzhue","operations","Pilot","Plant","PREM","Premier African Min","Share Talk","Suzhou TA&A","Tantalum Project","Zulu Lithium","Zulu lithium project"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2026/09/PREM-with-title-2.png?fit=1200%2C675&quality=80&ssl=1","format":"news","language":"en-GB","content":"[Premier African Minerals Limited (AIM: PREM)](https://www.investegate.co.uk/announcement/rns/premier-african-minerals-ltd--prem/offtake-and-prepayment-agreement-/9770402)has agreed with **Canmax Technologies** to extend the Long Stop Date under its existing Offtake and Prepayment Agreement for the **Zulu Lithium and Tantalum Project** to **31 December 2026**.\n\n[!\\[\\](https://www.share-talk.com/wp-content/uploads/2026/09/PREM-with-title-300x169.png)](https://www.share-talk.com/premier-african-minerals-can-zulu-outrun-the-dilution/)\n\n[Premier African Minerals: Can Zulu Outrun the Dilution?](https://www.share-talk.com/premier-african-minerals-can-zulu-outrun-the-dilution/)\n\nThe extension gives Premier additional time to progress Zulu and seek a longer-term resolution of its financial arrangements with Canmax, which remains the company’s principal secured creditor.\n\nPremier, Zulu Lithium and Canmax have also entered into a new subordination agreement which gives Canmax contractual priority over amounts owed by Zulu Lithium to Premier and other group companies.\n\nAs at **10 September 2026**, Canmax was owed **US$48.73 million**, comprising around **US$34.64 million** of original advanced receipts and **US$14.08 million** of accrued interest.\n\nZulu Lithium also owes approximately **US$55.75 million** to Premier and other Premier Group companies. These amounts remain fully owing, but cannot be repaid or enforced while Canmax’s senior debt remains outstanding without Canmax’s consent.\n\nPremier can continue to provide additional funding to Zulu if required, although any further advances would also rank behind Canmax.\n\nManaging Director **Graham Hill** said the extension provides additional time and certainty while Premier continues to progress Zulu and work towards a longer-term resolution with Canmax.\n\nCanmax holds more than 10% of Premier’s shares, meaning the agreement is treated as a related party transaction under AIM rules.\n\nThe extension provides Premier with more breathing space, but does not reduce the underlying **US$48.73 million owed to Canmax**, while Premier’s own substantial advances to Zulu remain subordinated."}