Premier African Minerals’ Shares Surge 23% After Extending Lithium Offtake Agreement with Canmax

Shares in Premier African Minerals Ltd (AIM: PREM, OTC: PRMMF) climbed sharply by 23% to 0.043p on Monday following the company’s announcement that it has extended its offtake and prepayment agreement with Chinese partner Canmax Technologies for the Zulu Lithium and Tantalum Project in Zimbabwe. The amended deal pushes the so‑called “Long Stop Date” from 31 December 2025 to the earlier of 30 June 2026 or the date on which a new buyer acceptable to Canmax agrees to settle the outstanding prepayment. Under the revised terms, Premier is no longer required to secure a third‑party buyer’s non‑binding expression of interest within 30 days. Premier must retain its current management across both the parent company and its Zulu subsidiary and maintain the full security package outlined in December 2024. If Premier fails to meet the agreed conditions, Canmax may enforce its contractual rights. Managing Director Graham Hill said the extended deadline provides clarity as both parties work toward a successful outcome at Zulu. The original agreement, signed in August 2023 and revised twice since, underpins funding for one of southern Africa’s more advanced lithium prospects. #PremierAfricanMinerals #LithiumDeal #MiningNews #CanmaxExtension #SlimScan #GrowthStocks #CANSLIM