Company
LON:PREM
Premier African Minerals Ltd is a multi-commodity mining and natural resource development company focused on Southern Africa with its RHA Tungsten and Zulu Lithium projects in Zimbabwe. The company has a diverse portfolio of projects, which include tungsten, rare earth elements, lithium and tantalum in Zimbabwe and lithium and gold in Mozambique, encompassing brownfield projects with near-term production potential to grass-roots exploration.
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Tungsten miner Premier African revealed Darwin has opted to convert £210,00 of its loan notes into company shares. The notes were issued in April last year and it means Premier has now £915,000 outstanding of notes.
Tungsten miner Premier African has received a US$200,000 credit facility from a local Zimbabwe bank as it prepares to exploit underground at its RHA project.
A tremendous boost for Premier African Minerals, the operator and 49% stakeholder in the RHA tungsten project, which has had a financing offer from local financial institution.
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Britain's blue chip benchmark tumbled 2.4% on the day to close 135 points lower as global markets continue to sink amid investor panic.
"There are no obstacles in bringing the underground developments on the lower levels of RHA into production as well as final plant fixes"
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Goldplat got a boost from a new resource statement for its project at its gold recovery operations in South Africa.
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Mining featured predominantly in the news again Wendesday.
The London index shed 25 points at 5,887 ahead of the US open
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The FTSE 100 Index dropped 23.67 points to 5887 in early trading
Review is encouraging and will support bulk mining and in pit upgrading, said CEO George Roach
First production and positive operating cash flow from RHA (before capital expenditure and working capital) are now expected in the spring.
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A round-up of the day's news from the small cap universe
Money will fund development of RHA tungsten mine in Zimbabwe
Premier African Minerals (LON:PREM) shares went higher on Monday as it unveiled positive tantalite findings from its Zulu project in Zimbabwe.
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Atlantic Coal mulls leaving AIM while Caledonia Mining proposes moving its HQ to Jersey
House broker Shore Capital has some advice for Premier African Minerals
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European Metals Holdings, the owner of the Cinovec lithium deposit in the Czech Republic, has added an AIM listing to its existing quote in Australia.
Investments and investor services
Abzena, Keras and North River Resources also had news out on Friday
Roach swapped a further US$144,000 (£95,000) of loans into ordinary shares
