Highlights:

  • Interim audit confirms Zulu Lithium ore is suitable for processing by the current route.
  • PREM plans immediate installation of the Xinhai 15–20 TPH flotation plant for production.
  • Discussions with lenders and offtake funders continue, depending on plant performance consistency.

Premier African Minerals Limited (LSE:PREM) has received the interim findings from the third-party audit of the Zulu Lithium plant and associated operations. The Audit Report examined the entire plant, including components that may be used in a new plant configuration, and provided observations and recommendations concerning the existing flotation plant. The findings are being reviewed by both the Company and the original equipment manufacturer (OEM) of the current flotation plant. A further update will be provided once the review and consultation process is completed and key findings are agreed.

Flotation Plant Installation
The interim Audit Report supports the Board’s decision, announced on 30 October 2025, to proceed with the acquisition, installation, and commissioning of a 15–20 TPH flotation cell plant manufactured by Xinhai Technology Processing EPC (“Xinhai Flotation Plant”). The objective is to enable Zulu Lithium to produce product at commercially acceptable grade and recovery levels. The Company is awaiting the OEM’s conclusions on whether the current flotation plant can be configured to supplement the Xinhai Flotation Plant.

Funding and Offtake Discussions
Premier African Minerals continues discussions with potential lenders and alternative offtake funders regarding the prepayment amount and accrued interest under the Offtake Agreement. Any potential arrangement is conditional on the Zulu Lithium plant demonstrating continuous and consistent production at the required grade and tonnage.

Share Price Snapshot

PREM was trading 17.65% higher at GBX 0.10 per share as of 19 November 2025.