Shares of Premier African Minerals (LON: PREM) are rallying on Friday after it announced the formal grant of an Exclusive Prospecting Order No. 1779 (EPO) over an area that encompasses the Zulu Lithium and Tantalum claims in the Fort Rixon district of Zimbabwe.
PREM shares are currently up 22.29% at 0.305p, after initially climbing to 0.495p following the news.
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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
The order is for three years and takes effect from 12 March 2021 to 11 March 2024.
“I am deeply appreciative of the Zimbabwe Government for the granting of this substantial EPO and Premier will reciprocate with mobilization for the commencement of the Definitive Feasibility Study (“DFS”) on the Zulu deposit which has an estimated completion time of 14 months,” said George Roach, CEO of Premier.
“Zulu remains a significant deposit,” added Roach.
Roach went on to say that at Zulu, there are further known lithium-bearing pegmatites offering upside to Zulu as well as historic small gold mines, potential molybdenite and many scheelite occurrences within the area.
“Premier expects to provide details in regard to further developments associated with Zulu and full details of the terms and conditions associated with the grant of the EPO in the near future,” he added.
Should you invest in Premier African Minerals shares? Premier African Minerals shares are traded on the AIM market of the London stock exchange (the alternative investment market) which is the sub market specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Premier African Minerals shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
