Premier African Minerals (LON:PREM) has received early the proceeds of a second tranche of convertible loan notes issued to Darwin Strategic.
The £157,500 will fund the ramp-up to full production at its 49%-owned RHA tungsten mine in Zimbabwe.
RHA should become cashflow positive in the first quarter of next year, after which it will start to repay the loans made to it by Premier
George Roach, chief executive, said: "Use and application of funds is to provide additional working capital and support of the expedited underground developments at RHA as announced on the 27 October 2015.
“We anticipate a full corporate update during the coming week."