Premier African Minerals to raise £1.2m for Zimbabwe project

Engineering NewsLondon-listed Premier African Minerals has completed a subscription to raise about £1.2-million before expenses through the issue of 27.52-billion new ordinary shares of nil par value in the capital of the company at an issue price of 0.00436p per new ordinary share.The net proceeds will provide additional working capital to support the planned restart of operations at the Zulu lithium and tantalum project, in Zimbabwe, including the potential remobilisation of mining activities and restart of the processing plant.