Premier African Minerals raises £500k to support Zulu lithium production push
Premier African Minerals Limited has secured around £500,000 in new funding to strengthen operations at its flagship Zulu Lithium and Tantalum Project, as it prepares for the next phase of production upgrades.
The company raised the funds through a subscription for 869,565,217 new ordinary shares at 0.0575 pence per share, with the proceeds earmarked for essential site costs, including operational consumables and preparations for the acquisition and installation of a new flotation cell plant. Additional funds will also support general working capital requirements.
The new flotation plant is a key component in Premier’s efforts to improve processing efficiency and move towards more consistent, commercially viable production at Zulu.
Following the share issuance, Premier’s total issued share capital will rise to 9,355,468,121 ordinary shares.
The fundraise reflects the company’s continued focus on stabilising and optimising its lithium operations as it works to position Zulu as a scalable, revenue-generating asset in a strengthening lithium market.
Graham Hill, CEO, commented:
“This subscription will provide working capital to support essential operational requirements at Zulu and also allow an initial preparation for the Xinhai Flotation Plant”.
