Aim-listed Premier African Minerals and UK-based mining investment firm Cadence Minerals have agreed to extend the due diligence period on Premier’s Zulu project by a further 20 days until September 14, following unexpected interruptions as a result of the recent elections in Zimbabwe.
Premier and Cadence in June entered into a heads of terms agreement to fund the definitive feasibility study for the Zulu lithium project.
Cadence’s investment of up to $5.1-million secures it a 30% shareholding in the Zulu project.