Premier African Minerals Ltd (LON:PREM) has reported an issue of additional equity, due to the exercise of loan notes.
Darwin Capital has exercised £600,000 worth of loans into equity, taking 294.6mln new shares priced at 0.203634p
The AIM quoted mining junior said that remaining, un-exercised, loan notes are presently worth a further £675,000.
Earlier this week, the company announced what it described as encouraging initial results from drilling at the Zulu lithium and tantalum project in Zimbabwe.
At that time Premier African Minerals chief executive George Roach said: “These latest assay results from Zulu are very encouraging indeed and we await the balance of the drill-hole results from this extensive drilling programme over the 3.5 km strike of the Zulu deposit drilled to date.
“When all results are in, the company intends to issue a maiden lithium resource report on what the company sees as a project of significance."
He added: "We have seen lithium bearing pegmatites (mainly spodumene and petalite) to vertical depths of over 200 meters and along the entire strike length of some 3.5 km, with some holes showing visible lithium mineralisation over drilled widths of up to 37 metres."