Premier African Minerals Ltd (PREM)

Sector:

Mining

Index:

FTSE AIM All-Share

0.23p
   
  • Change Today:
      0.004p
  • 52 Week High: 1.00
  • 52 Week Low: 0.16
  • Currency: UK Pounds
  • Shares Issued: 27,817m
  • Volume: 114,504,308
  • Market Cap: £63.70m

Premier African Minerals finalises prepayment deal, receives funds

By Josh White

Date: Wednesday 03 Aug 2022

LONDON (ShareCast) - (Sharecast News) - Premier African Minerals has concluded the definitive transaction documents of the marketing and prepayment agreement it announced on 24 June, it said on Wednesday.
The AIM-traded firm said it was in receipt of $18.1m of the prepayment that was required to have been paid to date.

It said the payment would be used for the Zulu plant fabricators and site contractors.

Fabrication and site construction was "well underway", with a projected completion date for commercial production expected in the first quarter of 2023.

"I am pleased to confirm the signing of this agreement and the receipt of funds," said chief executive officer George Roach.

"Fabrication, site design and construction are underway and projected commencement of commercial production is now scheduled for the first quarter of 2023.

"The pre-payment is expected to be fully offset against future shipments inside of 12 months at the prevailing SC6 pricing."

Roach said the company also recently appointed independent project and construction management teams to assist in ensuring compliance with timelines and budgets.

"At the same time, there has been an improved turn around in assays and we expect to release significant results as they come to hand.

"Further updates on the construction of the pilot plant will be provided in due course."

At 1447 BST, shares in Premier African Minerals were down 1.03% at 0.29p.

Reporting by Josh White at Sharecast.com.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

PREM Market Data

Currency UK Pounds
Share Price 0.23p
Change Today 0.004p
% Change 1.78 %
52 Week High 1.00
52 Week Low 0.16
Volume 114,504,308
Shares Issued 27,817m
Market Cap £63.70m

PREM Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
Market averageMarket averageMarket averageMarket averageMarket average
83.21% below the sector average83.21% below the sector average83.21% below the sector average83.21% below the sector average83.21% below the sector average
Price Trend
Market averageMarket averageMarket averageMarket averageMarket average
58.04% below the sector average58.04% below the sector average58.04% below the sector average58.04% below the sector average58.04% below the sector average
Income Not Available
Growth Not Available

PREM Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 5,613,777 @ 0.23p
16:35 41 @ 0.23p
16:35 1,000,000 @ 0.23p
16:35 1,000,000 @ 0.23p
16:35 1,000,000 @ 0.23p

Top of Page