PREM Shares Drop 3.3% On Second Fundraise

Premier African Minerals Ltd. announced a new fundraising. The company aimed to raise £610,000. The price per new ordinary share was set at 0.925p. After the announcement, the share price fell by 3.33%.

Your money is not completely safe. Trading CFDs is risky and it's possible to lose money. In fact, 81% of people who trade retail CFDs end up losing money. Be careful when trading and make sure you fully understand the risks involved before diving in.

The company got more money after investors were really interested in it. They got over £1.7 million in May 2023. Each new ordinary share was sold for 0.925p.

The second fundraiser was like the first. It offered investors a price very close to the company's trading price. That's why the share price didn't drop much.

The CEO of Premier African Minerals, George Roach, bought shares to help raise funds. He purchased 11,891,892 shares for £110,000, at a price of 0.925p per share. His total shares in the company now amount to 1,628,406,099 which is equal to a 7.1% ownership.

PREM is planning to use the money for day-to-day operations at Zulu and to help with general expenses.

Institutional investors are interested in PREM's Zulu lithium and tantalum project. They see quality in the project. Zulu is a world-class lithium resource, which is why investors are interested.

CMC Markets will work as the joint broker of PREM. This decision was announced by PREM.

Please note: This is not advice for investing. *Invest at your own risk.  Remember, you invest at your own risk. *Do your own research.  Make sure to conduct your own research. *Be aware of scams.  Stay alert for possible scams. *Consult a professional.  Consider seeking advice from a professional. *Stay educated and informed.  Keep yourself educated and informed.

The share price for Premier African Minerals (PREM) is being closely watched.

Yesterday, PREM's shares dropped 3.33% to 0.87p from 0.90p.

Be careful when trading CFDs. There's a high chance you'll lose money. In fact, 81% of retail accounts lose money. Keep in mind that your capital is at risk.

. Simon traded for more than 6 years. He dealt with FX, commodities and equities. Simon likes the financial market and concentrates on price action trading.