Highlights

  • Premier issues 869,565,217 new shares at 0.0575 pence each to raise GBP 500,000.
  • Funds will support essential consumables and working capital at Zulu Lithium project.
  • Preparations begin for installation of 15–20 TPH Xinhai Flotation Plant at Zulu.

Premier African Minerals Limited (LSE:PREM) has completed a direct subscription of 869,565,217 new ordinary shares at an issue price of 0.0575 pence per share, raising approximately GBP 500,000 before expenses. The subscription shares will rank pari passu with existing shares and admission to trading on AIM is expected on or around 3 December 2025.

Use of Proceeds
The net proceeds from the subscription are intended to cover essential consumables at the Zulu Lithium and Tantalum Project (“Zulu”) and provide general working capital for Premier. The funds will also support initial preparations for the acquisition, installation, and commissioning of a 15–20 TPH flotation cell plant manufactured by Xinhai Technology Processing EPC (“Xinhai Flotation Plant”) at Zulu, with the objective of enabling commercial-grade production.

Share Capital and Voting Rights
Following the issuance of the subscription shares, Premier’s total issued share capital will consist of 9,355,468,121 ordinary shares with voting rights. Shareholders may use this figure as the denominator for calculating any notification requirements under the Financial Conduct Authority’s Disclosure and Transparency Rules.

Advisers and Placement
The subscription was undertaken within the Company’s existing share authorities. CMC Markets UK Plc, trading as CMC CapX, acted as placing agent in respect of the placing. Beaumont Cornish Limited serves as nominated adviser, and Shore Capital Stockbrokers Limited is also involved in the placement process.

Share Price Snapshot

PREM was trading 16.67% lower at GBX 0.06 per share as of 27 November 2025.