Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Premier African's oversubscribed placing 'a reflection of the quality of Zulu'

George Roach, chief executive of Premier African Minerals Limited (LON:PREM), tells Proactive's Andrew Scott the value attributed to their Zulu lithium project in Zimbabwe was higher than expected in a scoping study.

Consultant Bara worked on two options at Zulu: just to produce a concentrate; or for Premier to build its own lithium production plant.

Bara estimated a value of US$127mln for a 15-year open cast operation mining a concentrate of spodumene and petalite, the source ores for lithium.

A funding to raise working capital to pay for the scoping study and further exploration was heavily oversubscribed, with Premier pulling in £1mln at 0.4p compared to an original target of £500,000

 
Meet Peninsula Mines Ltd and Silver City Minerals Ltd at our event, Sydney , 07 May 2018. Register here »
View full PREM profile View Profile

Premier African Minerals Ltd Timeline

© Proactive Investors 2018

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use