Premier African Minerals (PREM) H1 2025 earnings summary

Executive summary

• Transition period focused on plant optimisation at Zulu Lithium, aiming for consistent production and growth.

• Active negotiations for revised offtake agreements and funding to unlock Zulu’s full potential.

• Zulu benefits from strong resource base, infrastructure, and market access.

• Multi-option strategy for Zulu and ongoing negotiations for other projects.

Financial highlights

• Operating loss of $7.687 million for the six months ended 30 June 2025, mainly due to overheads and Zulu optimisation costs.

• Cash at hand as of 30 June 2025 was $0.029 million.

• Net assets at 30 June 2025 were $5.881 million, down from $12.480 million at 30 June 2024.

• Basic and diluted loss per share for the period was $0.020 (US cents), compared to $0.038 in the prior year.

• Net cash outflow from operating activities was $5.669 million; net cash from financing activities was $6.068 million.

Outlook and guidance

• Focus remains on optimising Zulu plant performance and securing revised offtake and funding agreements.

• Potential acquisition of a secondary flotation plant under review to increase production capacity.

• Multiple strategic options for Zulu under consideration, including joint ventures, partial sale, or bringing Zulu into full production.