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Premier African Minerals secures new funding

Creamer Media Senior Deputy Editor
Aim-listed Premier African Minerals on Monday announced a series of funding agreements that will allow the multicommodity mining and natural resources development company to increase its stake in Ethiopia-based Circum Minerals and fast-track exploration efforts at its wholly-owned Zulu lithium and tantalum project, in Zimbabwe. In an update to shareholders, the company said it had secured a new $2.9-million loan agreement, a direct subscription at 0.7p per new ordinary share to raise £4.8-million, before costs, and a £3.3-million equity sharing agreement.

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