Premier African Minerals raises $1.07 million for Zimbabwe projects
Premier African Minerals has raised approximately $1.07 million before expenses through a share subscription to fund ongoing optimisation and operational activities at its Zulu Lithium and Tantalum Project in Zimbabwe. The AIM-listed company announced on 11 June that the funding was secured through the issue of new ordinary shares at 0.02 pence each. The proceeds will be used primarily to support operations at Zulu and provide general working capital. The fundraising follows
Premier African Minerals has secured $1.07 million through a share subscription to support its Zulu Lithium and Tantalum Project in Zimbabwe. The funds will be used for operational activities and working capital. The company announced the funding on 11 June after its flotation plant produced its first spodumene concentrate. The new capital will aid in optimizing the plant and meeting operational needs. The project is a major lithium initiative in Zimbabwe, part of the country's efforts to boost mineral value addition. The company aims to improve concentrate quality and recovery rates. Management remains confident in the project's long-term potential.
The funding supports critical operations and development of a key lithium project in Zimbabwe, which is vital for the country's mineral sector growth.
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