Premier African Minerals Ltd (AIM:PREM, OTC:PRMMF) says it and Chinese partner Canmax have similar objectives with both focused on getting the Zulu lithium project in Zimbabwe up and running smoothly.
“In my opinion, the objectives of Premier and Canmax are aligned with the sole intention of meeting delivery of product and liquidation of the prepayment, without which Zulu could not have been built,” said Geroge Roach, Premier's chief executive.
Premier added that Canmax had reaffirmed its intention at this time to work with Premier on the completion of the commissioning and optimisation of both the primary flotation plant and secondary flotation plant to achieve the targeted grade and recovery.
Canmax has further confirmed that the basis of their prepayment under the agreement is unchanged and remains for the delivery of SC6 [lithium] under an offtake agreement and not the ownership and/or management of Zulu.
Roach added: "I remain confident that Premier will complete the optimisation and final commissioning of the spodumene float circuit at Zulu.
“The extensive additional test work completed in the latter part of 2024 and the purchase of additional float cells to be installed at Zulu will support this.”
Premier African launched a £3.5 million placing last week with Canmax subscribing to maintain its stake in the UK company at 13.4%.