Premier African Minerals has suspended operations at its RHA tungsten operation in Zimbabwe after encountering poor ore grades.
Whilst production exceeded targets, the ore produced was at grades largely insufficient to achieve planned profitable production.
The operation consequently requires additional financial support, up until it can develop undiluted ore from the end of the first quarter.
Premier said it was is currently in discussions with the National Indigenisation and Economic Development Fund, which has an interest of 51% in RHA, to agree alternative financing options.
Separately, the company said it was also mulling whether to list its Zulu lithium project in London. "The listing is intended to take place as soon as possible, subject to regulatory and other approvals," the company said.