- Premier African Minerals Ltd
- 20 August 2025 13:22:18
Source: Sharecast
The AIM-traded company said the plant has produced saleable spodumene concentrate above 5% lithium oxide on several occasions, with grades reaching as high as 6.2%.
It added that further optimisation was expected to ensure this can be achieved consistently.
Premier said it had postponed a planned purchase of a secondary flotation plant while its newly-appointed managing director reviewed the project’s operating parameters and strategic benefits.
Meanwhile, a trading house that signed a letter of intent in April has confirmed that it would require saleable concentrate as a condition for an offtake agreement, following a second site visit.
“We are pleased with the progress made so far and remain focused on advancing Zulu from its current early stage to the diversified industrial minerals producer we believe it can become,” said chief executive George Roach.
“The recent rise in spodumene pricing is encouraging, with the potential to transition Zulu from its current position to sustained profitability.”
Roach added that achieving full optimisation and reducing debt would require additional funding and careful strategic management, with negotiations on offtake expected to begin shortly.
Engineering group Enprotec, which had been providing support to the Zulu team, confirmed its review of the project and agreed the plant has now entered its optimisation phase.
At 1302 BST, shares in Premier African Minerals were up 28.16% at 0.03p.
Reporting by Josh White for Sharecast.com.