{"id":109104,"title":"The CEO of Premier African Minera agrees to provide a loan, offering PREM a much-needed capital relief.","publisher":"Share Talk","author":"sharetalk","published":"2023-07-21T07:10:39+00:00","modified":"2023-07-21T07:10:39+00:00","canonical_url":"https://www.share-talk.com/the-ceo-of-premier-african-minera-agrees-to-provide-a-loan-offering-prem-a-much-needed-capital-relief/","markdown_url":"https://www.share-talk.com/the-ceo-of-premier-african-minera-agrees-to-provide-a-loan-offering-prem-a-much-needed-capital-relief.md","json_url":"https://www.share-talk.com/the-ceo-of-premier-african-minera-agrees-to-provide-a-loan-offering-prem-a-much-needed-capital-relief.json","category":"Mining","categories":["Mining"],"tags":["George Roach","Mineral Resource","Mr Pei Zenzhue","operations","Pilot","Plant","PREM","Premier African Min","Share Talk","Suzhou TA&A","Tantalum Project","Zulu Lithium"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&ssl=1","format":"news","language":"en-GB","content":"**Premier African Minerals Ltd (AIM: PREM)** announced today that it has reached an agreement with its CEO, George Roach, to receive a loan of up to £1.7 million.\n\nThis short-term financial boost helps alleviate some stress on the company, currently embroiled in a disagreement with its partner, Canmax, allowing operational continuity while corporate issues are resolved.\n\nRoach plans to distribute the funds in two distinct instalments, with the first one amounting to £1 million.\n\nThe loan is subject to an 8% annual interest and has the provision to be converted into shares.\n\nThe Loan will be used for general working capital purposes including funding ongoing operational expenses at Zulu Lithium and Tantalum Project."}