Premier African Minerals has secured approximately £1.2 million through a new share subscription to finance a 15-day processing campaign at its Zulu lithium-tantalum project in Zimbabwe. The programme will use stockpiled ore to assess the plant’s operating performance, including throughput, stability, lithium recovery and the quality of spodumene concentrate.
The AIM-listed company issued approximately 27.52 billion new shares at 0.00436 pence per share in a direct subscription. Most of the proceeds will support the restart campaign, which is intended to establish whether the processing facility can sustain more consistent production following an extended period of commissioning difficulties and plant modifications. Premier expects to process approximately 13,000 tonnes of ore already stored on the run-of-mine pad. Supplier engineers are being remobilised to the project to support the planned operating programme.
Plant Restart Campaign to Assess Processing Performance
The 15-day campaign is designed to test the processing circuit under operating conditions, with particular attention to feed rates, plant stability, recovery performance and the quality of the final spodumene concentrate. The assessment will determine whether the facility can maintain consistent processing operations and produce concentrate meeting saleable specifications. The key operational benchmarks extend beyond the volume of concentrate produced to include sustained throughput and acceptable lithium recovery.
Zulu has experienced an extended period of plant modifications, commissioning problems and funding pressure. These challenges have left the project’s progress dependent on demonstrating that the processing circuit can operate reliably rather than continuing to require intermittent commissioning work.
Further Development Depends on Restart Results
If the campaign delivers the expected results, Premier could proceed toward renewed mining activity and a longer processing run. If operating performance falls short, further plant modifications and additional financing may be required. The 13,000 tonnes of stockpiled ore allocated to the programme provide a defined feed source for the initial test, but the 15-day duration will not be sufficient to establish the project’s long-term operating economics.
The latest fundraising provides Premier with capital to conduct the restart test, although the issuance of approximately 27.52 billion shares represents substantial dilution for existing shareholders. The immediate objective is to establish whether the Zulu plant can sustain stable feed rates, achieve acceptable recoveries and consistently produce spodumene concentrate within saleable specifications. The results will determine the next operational steps, including the potential transition to renewed mining and an extended processing campaign.
