Premier African Minerals PLC has raised an additional £1.25 million through an equity subscription at 0.16p to help it through snagging problems in the ramp-up of the Zulu lithium plant in Zimbabwe.
George Roach, chief executive, said he was encouraged with the mining operations and ore grades, which is mitigating "for the moment" the ore sorter deficiencies.
Extensive test work is about to commence, said the statement, and replacement ore sorters will be considered thereafter.
"It remains our preferred outcome that the original supplier resolves this", Premier African said.
An internal review of production costs (which have not been independently verified) now indicates an average overall delivered China port cost per ton of US$834 for 2024, with future costs on the same basis below US$800 per ton delivered China port
“Inspections required as a prelude to export have commenced, and this precedes any export. We do not expect any delays in permits required.," added the statement.
There are likely to be further challenges with optimisation of the floatation circuit, Roach added, "but with the resolution of each, plant availability, recoveries and concentrate grade are all improved."
“We have a long way to go but we remain encouraged by the facts that we are producing spodumene that is saleable.”