New Risk • Apr 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 60% per year over the past 5 years. Shareholders have been substantially diluted in the past year (405% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (UK£4.93m market cap, or US$6.66m). Minor Risk Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Announcement • Apr 18
Premier African Minerals Limited Provides Operational Update on Zulu Lithium and Tantalum Project Premier African Minerals Limited provided a further interim update on the ongoing progress at the Zulu Lithium and Tantalum Project. Progress on the installation and integration of the new Xinhai Flotation Plant continues to be very encouraging. Over the past several weeks, work has primarily focused on labour-intensive, site-based fabrication activities, including the construction of overflow launders, walkways and the interconnecting pipework between flotation cells, as well as the installation of large-diameter air supply piping. Due to the design of the new Xinhai Flotation Plant, these components are required to be fabricated on site, and this work has been carried out by the Zulu Lithium engineering team under the supervision and guidance of the specialist installation engineer from Xinhai Technology Processing. The tailings tank has now been installed, marking a further key step in the overall plant infrastructure. In parallel, the electrical switchgear is nearing completion and is scheduled for factory testing at the manufacturer's facilities later this week. Subject to successful testing, delivery to site will follow, with installation and completion of the electrical works expected over the coming weeks. As part of the ongoing optimisation efforts, fabrication of new conveyor chutes is progressing in order to bypass the previously installed sorting equipment. Following operational review, these sorters were determined to be redundant and contributed unnecessary additional operating costs, including power consumption, manpower and maintenance. Their removal forms part of a broader strategy to simplify plant operations, improve reliability and enhance overall operability. Further modifications are also being undertaken to sections of pipework to bypass the thickener, as well as certain sumps and pumps that have historically presented operational challenges. The mining contractor has returned to site and has commenced dewatering activities within the pits in order to facilitate the recommencement of a very selective mining programme. The Company continues to make progress in building its processing operations team, while detailed commissioning planning is ongoing. Preparations are being made for the arrival of the Xinhai Flotation Plant commissioning engineer, who will support the final stages of plant commissioning and optimisation. The water supply dam remains at full capacity following favourable seasonal rainfall, providing a stable and reliable water source for upcoming commissioning and sustained operational activities. Announcement • Mar 27
Premier African Minerals Limited Provides Interim Update on Ongoing Progress at Zulu Lithium and Tantalum Project Premier African Minerals Limited provided an interim update on the ongoing progress at the Zulu Lithium and Tantalum Project. New flotation cells fully installed, aligned, levelled and connected under supervision of the manufacturer's installation engineer. Product and tailings pumps installed on plinths. Installation of launders underway with structural steelwork for walkways progressing well. Piping crew mobilised with plant integration pipework now commencing. Commissioning planning progressing with process engineering team mobilisation initiated. Approximately 5,000 tonnes of ore available on ROM stockpile for early commissioning. Commissioning and optimisation remain on track for Second Quarter 2026. Installation of the new flotation cells has been completed, with all units now aligned, levelled and connected. This critical phase was undertaken under the supervision of the manufacturer's installation engineer and is essential to ensure effective gravity-driven material flow through the flotation circuit. Following the delivery of materials for the fabrication of structural steel walkways and flotation launders, on-site fabrication by the Zulu Lithium team has progressed well. Installation of the launders is now underway, alongside the erection of supporting steel structures for safe plant access. The new pumps for both product and tailings streams have been successfully installed on their respective plinths. In parallel, the piping team has mobilised to site and commenced installation of the pipework required to integrate the new flotation plant with existing infrastructure. The motor control switchgear is currently being assembled off-site and will undergo factory acceptance testing prior to delivery. Delivery to site remains on schedule and is expected within the next two weeks. Operational readiness activities are advancing, including the development of a detailed commissioning plan and the mobilisation of the process engineering team. Discussions are also ongoing with a mining contractor to support appropriate mobilisation planning and ensure continuity of ore supply. The Company currently holds approximately 5,000 tonnes of ore on the ROM stockpile, which will be utilised during the initial commissioning phase, with additional ore to be supplied thereafter. Commissioning and optimisation during Second Quarter 2026 remain the target, with the aim of achieving steady-state production of on-spec spodumene concentrate. 
