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Premier receives funding deposit to further Zulu DFS

11th March 2022

By: Tasneem Bulbulia

Deputy Editor Online

     

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Aim-listed Premier African Minerals have received the £1.2-million non-refundable deposit that Suzhou TA&A Ultra Clean Technology was required to pay as part of its previously announced conditional subscription agreement.

On March 8, Premier announced a conditional subscription for new ordinary shares by Suzhou TA&A Ultra Clean Technology to raise £12-million before expenses for the ongoing definitive feasibility study (DFS) at Premier's Zulu lithium and tantalum project, in Zimbabwe.

The subscription would fully fund the completion of the DFS that is under way at Zulu.

Suzhou TA&A is listed on the Shenzhen Stock Exchange and has a market capitalisation of ¥42.9-billion (£5.1-billion).

The subscription agreement affords Suzhou TA&A additional rights, including a right to negotiate its future involvement and/or investment in support of the company.

Premier anticipates active involvement and expertise from Suzhou TA&A in the development of the DFS.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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