https://www.miningweekly.com

Premier African Minerals raises over £2m in oversubscribed offer

27th March 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Aim-listed Premier African Minerals' offer, made on Friday, to raise £1.5-million, at 0.5p per new ordinary share, received a very strong response from private and institutional investors, with the offer being oversubscribed.

The offer was on a first come, first served basis and was closed early on March 26, once £2-million had been surpassed and the offer having already been 34% oversubscribed by that time.

Premier will issue and allot 402-million ordinary shares at an issue price of 0.5p each to satisfy the offer.

CEO George Roach said the company was pleased with the support it received from investors.

“This fundraise enables expedited execution of the additional drilling that is under way at Zulu Lithium and our limestone deposit in Mozambique. When [our] RHA [mine] meets its guidance and a liquidity event occurs at Circum, we are unlikely to need further operational funding for any operations at any existing projects in the current calendar year.”

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.085 0.12s - 88pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: