[SMM News] Premier, Canmax Extend Long Stop Date on Zulu Lithium Offtake Agreement to December 31

On September 14th, 2026, London-listed Premier African Minerals agreed with Canmax Technologies to extend the long stop date under their restated offtake and prepayment agreement for the Zulu lithium and tantalum project in Zimbabwe, originally signed in August 2023, to December 31.

Premier, Zulu Lithium Private, and Canmax also signed a tripartite priority and subordination agreement, giving Canmax contractual priority over amounts owed by Zulu Lithium to Premier and other Premier group members. Other terms remain unchanged.

Amounts owed to Canmax, including outstanding prepayment and accrued interest, rank as senior indebtedness about $48.73-million as at September 10. Amounts owed by Zulu Lithium to Premier, including loans, advances, and intercompany balances, rank as subordinated indebtedness about $55.75-million.

Premier MD Graham Hill said the extension provides time and certainty to progress Zulu and reach a long-term resolution with Canmax, while the subordination agreement clarifies creditor positions and preserves Premier's claims against Zulu Lithium.