REG - Premier African Min - Zulu Lithium DFS Funding Deposit

Premier African MineralsAnnouncement

11/03/2022 09:00

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RNS Number : 4980E  Premier African Minerals Limited  11 March 2022

11 March 2022

Premier African Minerals Limited

 

Zulu Lithium DFS Funding Deposit

Premier African Minerals Limited ("Premier" or the "Company"), is pleased to
confirm receipt of £1.2 million, the non-refundable deposit that Suzhou
TA&A Ultra Clean Technology Co., Ltd was required to pay as part of their
conditional Subscription Agreement as set out in our announcement on 8 March
2022.

Market Abuse Regulation

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018.

The person who arranged the release of this announcement on behalf of the
Company was George Roach.

Enquiries

 

 George Roach                        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)
 John More/Toby Gibbs                Shore Capital Stockbrokers Limited  Tel: +44 (0) 20 7408 4090
 Matthew Bonner                      EAS Advisors LLC                    Tel: +1 646 495 2225

 

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. The Company has accepted a share offer
by Vortex Limited ("Vortex") for the exchange of Premier's entire 4.8 per cent
interest in Circum Minerals Limited ("Circum"), the owners of the Danakil
Potash Project in Ethiopia, for a 13.1 per cent interest in the enlarged share
capital of Vortex. Vortex has an interest of 36.7 per cent in Circum.

 

In addition, the Company holds a 19 per cent interest in MN Holdings Limited,
the operator of the Otjozondu Manganese Mining Project in Namibia.

Ends

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