Premier African’s (LON:PREM) chief executive George Roach has taken his stake in the fledgling tungsten group to just under 30% with conversion of another chunk of debt.
Roach swapped a further US$144,000 (£95,000) of loans into ordinary shares to follow conversion of US$650,000 of borrowings a week ago.
Premier African is ramping up production at the RHA Tungsten mine in Zimbabwe and expects it to move into a profit in the first quarter of 2016, but this is behind schedule after teething problems and a fall in the price of the metal.
Once the shares are issued, Roach will be interested directly and indirectly in aggregate in 29.5% of the company.
"I am committed to maintaining an overall position at this level in Premier and intend to convert all or part of my loans to the company as and when I am able."
Shares rose 15% to 0.43p.