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Highlights

  • Premier African Minerals has raised £1.38 million through a direct subscription of 6 billion new ordinary shares at 0.023 pence per share.

  • Funds will be used to optimise the Primary Flotation Plant, progress an alternative spodumene float plant, and support operating expenses and debt settlements.

  • Admission of the new shares to AIM is expected on or around 28 August 2025, increasing total issued share capital to 83.67 billion shares.

     

Premier African Minerals Limited (LSE:PREM) has announced it has successfully completed a subscription to raise £1.38 million (approximately AUD 2.64 million) before expenses. The funds were raised through the issue of 6,000,000,000 new ordinary shares at an issue price of 0.023 pence per share.

Use of Proceeds

The capital raised will be directed towards multiple priorities for the Zulu Lithium and Tantalum Project. The first allocation will support the ongoing refining and optimisation of the Primary Flotation Plant. Additionally, funding is earmarked for a potential alternative spodumene float plant, subject to review as previously announced on 20 August 2025.

Part of the proceeds will also be applied to operational expenses and debt settlements while negotiations related to the non-binding letter of interest, announced earlier in August 2025, continue. The balance will be allocated to general working capital requirements for Premier.

Subscription and Share Details

The subscription was arranged directly by the Company and involved the issue of 6,000,000,000 new ordinary shares of nil par value. The new shares will rank pari passu in all respects with the Company’s existing ordinary shares once admitted.

The subscription has been executed within Premier’s existing share authorities, with the proceeds dedicated to the outlined funding priorities.

Admission and Voting Rights

Application has been made for the Subscription Shares to be admitted to trading on AIM, with admission expected to take place on or around 28 August 2025.

Following admission, Premier African Minerals’ issued share capital will consist of 83,674,775,980 ordinary shares with voting rights. 

With the latest funding secured, Premier African Minerals continues to advance development at the Zulu Lithium and Tantalum Project while maintaining operational and financial flexibility.