Premier African Minerals issues new shares after loan conversion

16th Feb 2016 12:54

(ShareCast News) - Premier African Minerals said it had issued 78m shares in the company after Darwin Capital Ltd decided to exercise a convertible loan note.The company said the loan notes have been used to part fund the re-opening of underground operations at RHA Tungsten, Premier's Zimbabwe tungsten project, and for working capital purposes.Premier is the operator of RHA and holds a 49% interest.Premier issued the shares at 0.269p each to cover the £0.2m conversion and the outstanding balance on the note is £0.95m.At 1433 GMT, shares in the company were down 1.5% to 0.37p.

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