StockMarketWire.com - Premier African Minerals said it had issued a plan loan to Namibia-focused MN Holdings and welcomed the company's chairman, Herbert Nkala, to its board.

In July, the company had that it and Cambrian had entered into a secured $1.35m loan agreement with MN, with interest payable of 10%.

MN was the owner and operator of the Otjozondu manganese mine in Namibia.

'The completion of this loan payment and the appointment of MN's chairman to Premier's board cements the establishment of a strategic relationship and firmly aligns the best mutual interest of both parties,' chief executive George Roach said.

'It is also pleasing to note that export tonnages at MN continue to increase and mine production more than doubled in the last 12 months.'

'As I have previously stated, it is essential to the future of our company that we find a means to move to being production and cash generative, rather than development oriented and dependent on placements and the need to raise finance.'


At 8:27am: [LON:PREM] Premier African Minerals share price was +0p at 0.03p



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