Premier African Minerals falls 8% as emergency fundraise highlights Zulu project strain

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Wed, March 11, 2026 astatine 5:15 AM CDT 1 min read

Premier African Minerals falls 8% arsenic exigency fundraise highlights Zulu task strain

Shares successful Premier African Minerals Ltd (AIM:PREM, OTC:PRMMF), the AIM-listed mining institution whose banal has mislaid much than 80% of its worth implicit the past year, fell a further 8% to 0.022p aft the institution raised £500,000 done a discounted stock contented to support its Zimbabwean lithium task afloat.

The fundraise, completed astatine an contented terms of 0.0185 pence per share, a steep discount to the already depressed marketplace price, volition supply moving superior to enactment ongoing operations astatine the Zulu Lithium and Tantalum Project successful Zimbabwe.

A further £100,000 of outstanding supplier invoices was settled done the contented of caller shares astatine the aforesaid price, suggesting the institution is conserving what small currency it has.

The funds volition chiefly enactment the installation and commissioning of a 15 to 20 tonnes-per-hour flotation works manufactured by Xinhai Technology Processing, which the institution said was indispensable to reaching commercially acceptable levels of lithium people and recovery.

Premier issued an operational update connected 4 March, flagging difficulties astatine Zulu, and the latest fundraise underlines the fragile fiscal presumption of the project.

Graham Hill, main executive, said maintaining momentum connected the flotation works installation was captious arsenic the institution moved towards unchangeable operations.

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