Canmax agrees to carry-over of outstanding payments by Premier
Aim-listed Premier African Minerals reports that Canmax Technologies has agreed that $3-million owed to it by Premier be carried forward.
The payments relate to Premier’s failure to deliver at least 1 000 t a month of spodumene concentrate from its Zulu lithium and tantalum project, in Zimbabwe, to Canmax in November and December 2023.
As a result, the interest rate for the outstanding balance of the prepayment amount will be increased to 12% a year, with effect from December 1, 2023.
"Premier is pleased that Canmax has elected to carry forward the monthly payments in respect of the non-delivery of product in the months of November and December 2023. The effect of this is that the monthly payment contemplated is rolled forward and clear indication that Canmax requires delivery of spodumene concentrate as soon as possible.
“Premier is deeply appreciative for the understanding and assistance Canmax has provided. And we remain committed to production in late February provided only that all commitments made by contractors are met,” says Premier CEO George Roach.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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