Premier African CEO increases company's working capital facility
JOHANNESBURG (miningweekly.com) – Aim-listed multi-commodity company Premier African Minerals on Thursday announced that the terms of additional funding to be provided by its chairperson and CEO George Roach had been finalised.
Premier said in May that Roach would increase his working capital facility to the company from £300 000 to not less than £600 000.
To date the company had drawn down £200 000 of the additional funds to finanace additional exploration activity being undertaken at its flagship RHA tungsten project in Zimbabwe, as well as further selected infill drilling and metallurgical testwork, and the provision of additional general working capital.
Premier stated that the conversion price for any additional drawings under the increased facility, which Roach subsequently elected to convert into new ordinary shares, would be set by reference to the then most recent fundraising.
The company was also actively engaged in discussions with potential offtake partners and funders with the objective of securing the necessary funding for the development of the RHA tungsten mine by the end of 2014.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation















