Premier African Minerals sees shares fall on spodumene reagent delay

(Alliance News) - Premier African Minerals Ltd on Monday bemoaned production delays at its Zulu ...

Alliance News 3 April, 2023 | 3:00PM
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(Alliance News) - Premier African Minerals Ltd on Monday bemoaned production delays at its Zulu lithium and tantalum project in Zimbabwe.

The Africa-focused minerals and metals project developer said that two issues delayed production this weekend, the first of which was final approval from a Zimbabwean authority for the Zulu project.

The second was the late delivery of one outstanding reagent.

Chief Executive Officer George Roach said this was short-ordered "due to an error on the part of the plant supplier". The reagent is freely available, he added, but not in Africa, and complications related to airfreight of a chemical substance has caused this delay.

Not having the reagent does not make it impossible to produce spodumene, but it does affect the grade of spodumene concentrate produced.

Roach added: "We believe that the above issues will be resolved in the coming days and will update the market thereafter."

Premier African Minerals shares were trading 1.7% lower at 0.91 pence each in London on Monday afternoon.

By Holly Beveridge, Alliance News reporter

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Premier African Minerals Ltd 0.19 GBX -0.78 -

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