Premier African Minerals Ltd

Premier African Minerals negotiating over Zulu drilling programme

KME was supposed to carry out the drilling once the rainy season ended

Zulu is one of the largest lithium deposits in Zimbabwe

Premier African Minerals Limited (LON:PREM) is in talks over the final terms of the contract to drill the Zulu lithium deposit in Zimbabwe.

KME was supposed to carry out the drilling once the rainy season ended at a cost of US$400,000, but Premier said today a long form drilling contract has yet to be agreed.

The payment was to be in Premier shares at a price of 0.145p or well above the current market price of 0.1p.

Drilling will start once an agreement has been reached but if this is not possible Premier will look for a new contractor. 

Quick facts: Premier African Minerals Ltd

Price: 0.1375 GBX

Market: AIM
Market Cap: £15.13 m


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