Premier African Minerals bullish about Zulu project

18th Jun 2024 12:03

(Sharecast News) - Premier African Minerals shares rose strongly on Tuesday after the mining company expressed confidence in its Zulu lithium and tantalum project in Zimbabwe.

PAM said the conditioning tank delivery and commissioning remains on track for completion during the week commencing 10 July.

"Premier sincerely hope the conditioning tank will be the last plant modification," said chief executive George Roach.

"The board remains confident regarding the prospects for Zulu and we note that at this time the development of Zulu, a complete mine, has cost the company the better part of $75m, and neither this nor the deemed valuation of Zulu agreed with our take-off partner is reflected in our current market capitalisation."

Shares were up 6.3% at 0.11p by 1210 BST, though still remain down 50% over the year to date.