Interim Funding
Company raises £500,000 before expenses via subscription of 869.6m new shares at 0.0575p each.
- Gross proceeds approximately £500,000
- Issue price per share 0.0575 pence
- New ordinary shares issued 869,565,217
- Total voting rights post-issue 9,355,468,121 ordinary shares
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Premier African Minerals Limited ("Premier" or the "Company") is pleased to announce that it has today completed a subscription for 869,565,217 new ordinary shares to raise approximately £500,000 before expenses at an issue price of 0.0575 pence per new ordinary share (the "Issue Price").
Following the announcement on 19 November 2025, it remains of fundamental importance that Premier continues to support all essential operational requirements across both Premier and the Zulu Lithium and Tantalum Project ("Zulu") including all preparations for the acquisition, installation and commissioning of the 15-20 TPH flotation cell plant manufactured by Xinhai Technology Processing EPC ("Xinhai Flotation Plant") with the objective of enabling Zulu Lithium to produce product at commercially acceptable levels of grade and recovery.
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".
Subscription
Premier has today issued by way of a direct subscription ("Subscription"), conditional on admission, 869,565,217 new ordinary shares of nil par value ("Subscription Shares") at the Issue Price per Subscription Share. The Subscription Shares will, when issued, rank pari passu in all respects with the existing ordinary shares. CMC Markets UK Plc trading as CMC CapX, acted as the Company's placing agent in respect of the placing.
The Subscription has been undertaken within the Company's existing share authorities. Premier intends to use the net proceeds principally to support essential consumables at Zulu's camp and to provide general working capital for Premier and allow for necessary preparation to commence for the Xinhai Flotation Plant.
Admission
Application has been made for the 869,565,217 Subscription Shares to be admitted to trading on AIM. Admission is expected to take place on or around 3 December 2025.
Total Voting Rights
Following the issue of the Subscription Shares, the Company's issued share capital will consist of 9,355,468,121 ordinary shares with voting rights.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.