Premier makes £1 million placement for Zulu lithium project

Oliver Kazunga, Senior Business Reporter

PREMIER African Minerals has made a placement to raise a total of £1 million for the ongoing Definitive Feasibility Studies at Zulu Lithium project in Matabeleland South.

In April, Premier announced that it had initiated a DFS and a funding strategy to be applied in future development of its Zulu lithium and tantalum project in Matabeleland South.

In a statement, the mining group said the placing has been arranged within its existing share authorities.

“The board of Premier African Minerals Limited is pleased to announce a placing today to raise £1 million before expenses at an issue price of 0,2 pence per new ordinary share for the ongoing DFS at the company’s Zulu Lithium project in Zimbabwe,” it said. – @okazunga