PREMIER AFRICAN MINERALS

The government of Zimbabwe has approved Premier African’s transfer of its stake in RHA Tungsten and has instructed the Zimbabwe Mining Development Corporation to coordinate the transfer with the company. Premier African is now overseeing the implementation process and is working with relevant parties on the legal, financial and administrative steps to resume commercial operations. CEO Graham Hill said the written confirmation removes uncertainties and allows commercial discussions to continue in the current tungsten price environment. The company said it will work with the ZMDC to review transactions that could create value beyond its interest in RHA Tungsten. » More on de.investing.com

Premier African Minerals has produced spodumene concentrate for the first time at the Zulu lithium-tantalum project; internal laboratory analyses confirmed spodumene, while independent verification is still pending. The concentrate grades achieved to date are below target, but the company reports gradual quality improvements during commissioning and optimisation of the flotation plant. No information was given on recovery rates, throughput or final concentrate grade; Premier says it will provide further updates as the operations team continues to adjust reagent dosing, flotation parameters and plant stability. » More on de.investing.com

Premier African Minerals has granted options on 2.4 billion new ordinary shares to directors and management, which expire on 27 May 2037 and increase the volume of outstanding options to 2.5 billion (about 6.4% of issued share capital). Directors received 720 million options (Graham Hill 400 million, Godfrey Manhambara 320 million); the remaining 1.68 billion went to management. The allotment is made in four equal tranches with exercise prices of 0.0185p, 0.023p, 0.028p and 0.036p and is conditional on time-based or production milestones at the Zulu lithium project in Zimbabwe. » More on de.investing.com