Oscar J Jeke- Zim Now Reporter
Premier African Minerals has posted a net loss of US$19.7 million for the financial year ended December 31, 2024, deepening concerns over the company's financial viability as it continues to operate without generating revenue.
The loss, down marginally from US$20.8 million in 2023, was driven by high operating costs, interest expenses, and the absence of commercial production at the company’s flagship Zulu Lithium and Tantalum Project in Zimbabwe.
Related Stories
The London-listed miner’s annual results, released this week, show no income from operations, while the cost of sales rose sharply to US$12.5 million from US$3.8 million the previous year—highlighting escalating production expenses despite the lack of revenue.
Premier also reported administrative costs of US$4.6 million and finance costs of US$2.3 million, although both figures represent a decline from the prior year.
The total comprehensive loss for 2024 stood at US$20.2 million.
Leave Comments