Premier African Minerals (PREM) H1 2026 earnings summary

Executive summary

• Focus remained on progressing Zulu Lithium towards sustainable production and managing working capital and creditor obligations.

• Agreement with Canmax Technologies Co. Ltd was concluded to support Zulu Lithium, with capital allocation prioritized for this project.

• The company is actively managing creditor positions and exploring various funding and partnership options for its portfolio.

Financial highlights

• Operating loss for the six months ended 30 June 2026 was US$6.873 million, mainly due to overheads and administration costs at Zulu Lithium.

• Cash at hand as of 30 June 2026 was US$0.781 million.

• Total current liabilities stood at US$60.380 million, including US$48.222 million from an offtake and prepayment agreement.

• Net assets at 30 June 2026 were US$1.510 million.

• Basic and diluted loss per share for H1 2026 was (0.052) US cents.

Outlook and guidance

• Zulu Lithium remains the principal operational focus, with plans to bring it into full production or secure additional funding or partnerships.

• The board is considering options including joint ventures, partial or full sale of Zulu, or installation of additional plant capacity.

• Continued uncertainty exists regarding the timing and availability of future funding.