Premier African Minerals Ltd (AIM:PREM), the metals and minerals developer, has entered a loan facility agreement worth £1.7 million, with Chairman and CEO George Roach as the lender, a company statement revealed.
Using the cash for general working capital purposes such as operational expenses at Zulu, the loan is unsecured and has no arrangement fees in place.
Shares in Premier African Minerals bounce close to 4% higher on Thursday, having opened at 0.52p.