REG - Premier African Min. - Funding

Premier African MineralsAnnouncement

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RNS Number : 1363W  Premier African Minerals Limited  11 March 2026

11 March 2026

Premier African Minerals Limited

 

Funding

Premier African Minerals Limited ("Premier" or the "Company") is pleased to
announce that it has today completed a subscription to raise approximately
£500,000 before expenses through the issue of new ordinary shares of nil par
value in the capital of the Company (the "Subscription Shares") at an issue
price of 0.0185 pence per new ordinary share (the "Issue Price") (the
"Subscription").

In addition, the Company has settled £100,000 of supplier's invoices
through the issue of new ordinary shares in the Company, also at the Issue
Price.

Following the Company's operational update announced on 4 March 2026 in
relation to the Zulu Lithium and Tantalum Project ("Zulu"), it remains of
fundamental importance that Premier continues to support all essential
operational requirements across both Premier and Zulu. In particular, the
funding will assist with operational requirements, the ongoing installation
and commissioning of the 15-20 TPH flotation plant manufactured by Xinhai
Technology Processing EPC ("Xinhai Flotation Plant"), with the objective of
enabling Zulu to produce product at commercially acceptable levels of grade
and recovery.

Graham Hill, CEO, commented: "This funding provides important working capital
to support ongoing operational requirements at Zulu and the continued progress
of the installation and commissioning of the Xinhai Flotation Plant.
Maintaining the momentum we have created in advancing the Xinhai Flotation
Plant is of vital importance as we move toward stable operations and a
positive future at Zulu.

The Board remains firmly focused on stabilising operations at Zulu and
progressing towards consistent production".

Subscription

 

Premier has today issued by way of a direct subscription ("Subscription"),
conditional on admission, 2,702,702,703 new ordinary shares of nil par value
("Subscription Shares") at the Issue Price per Subscription Share. The
Subscription Shares will, when issued, rank pari passu in all respects with
the existing ordinary shares. CMC Markets UK Plc trading as CMC CapX, acted
as the Company's placing agent in respect of the Subscription.

 

The Company has also today settled creditor invoices totalling £100,000
through the issue of 540,540,541 new ordinary shares in the Company at the
Issue Price (the "Settlement Shares"). The Settlement Shares will, when
issued, rank pari passu in all respects with the existing ordinary shares.

 

The issue of the Subscription and Settlement Shares, which in aggregate amount
to 3,243,243,244 new ordinary shares (the "New Shares"), has been arranged
within the Company's existing share authorities. Premier intends to use the
proceeds of the Subscription principally to assist with the ongoing
commissioning of Xinhai Flotation Plant, operating expenses at Zulu, and the
management of essential creditors at Zulu and to provide general working
capital for Premier.

 

Admission

 

Application has been made for the New Shares, to be admitted to trading on AIM
and admission is expected to take place on or around 17 March 2026.

 

Total Voting Rights

 

Following the issue of the New Shares, the Company's issued share capital will
consist of 17,501,485,100 ordinary shares with voting rights.

 

This figure may be used by shareholders as the denominator for the purposes of
calculating whether they are required to notify an interest in, or any change
to an interest in, the Company's share capital under the Financial Conduct
Authority's Disclosure and Transparency Rules.

 

Enquiries:

 

 Graham Hill                         Premier African Minerals Limited    Tel: +27 (0) 100 201 281
 Michael Cornish / Roland Cornish    Beaumont Cornish Limited            Tel: +44 (0) 20 7628 3396

                                     (Nominated Adviser)
 Douglas Crippen                     CMC Markets UK Plc                  Tel: +44 (0) 20 3003 8632
 Toby Gibbs/Harry Davies-Ball        Shore Capital Stockbrokers Limited  Tel: +44 (0) 20 7408 4090

 

Nominated Adviser Statement

Beaumont Cornish Limited ("Beaumont Cornish"), which is authorised and
regulated in the United Kingdom by the Financial Conduct Authority, is
acting as nominated adviser to the Company in connection with this
announcement and will not regard any other person as its client and will not
be responsible to anyone else for providing the protections afforded to the
clients of Beaumont Cornish or for providing advice in relation to such
proposals. Beaumont Cornish has not authorised the contents of, or any part
of, this document and no liability whatsoever is accepted by Beaumont Cornish
for the accuracy of any information, or opinions contained in this document or
for the omission of any information. Beaumont Cornish as nominated adviser to
the Company owes certain responsibilities to the London Stock Exchange which
are not owed to the Company, the Directors, Shareholders, or any other person.

Forward Looking Statements

Certain statements in this announcement are or may be deemed to be forward
looking statements. Forward looking statements are identified by their use of
terms and phrases such as ''believe'' ''could'' "should" ''envisage''
''estimate'' ''intend'' ''may'' ''plan'' ''will'' or the negative of those
variations or comparable expressions including references to assumptions.
These forward-looking statements are not based on historical facts but rather
on the Directors' current expectations and assumptions regarding the Company's
future growth results of operations performance future capital and other
expenditures (including the amount. Nature and sources of funding thereof)
competitive advantages business prospects and opportunities. Such forward
looking statements reflect the Directors' current beliefs and assumptions and
are based on information currently available to the Directors. A number of
factors could cause actual results to differ materially from the results
discussed in the forward-looking statements including risks associated with
vulnerability to general economic and business conditions competition
environmental and other regulatory changes actions by governmental authorities
the availability of capital markets reliance on key personnel uninsured and
underinsured losses and other factors many of which are beyond the control of
the Company. Although any forward-looking statements contained in this
announcement are based upon what the Directors believe to be reasonable
assumptions. The Company cannot assure investors that actual results will be
consistent with such forward-looking statements.

Notes to Editors:

Premier African Minerals Limited (AIM: PREM) 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.

 

Ends

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