Premium Resources Ltd. is a mineral exploration and evaluation company focused on the discovery and advancement of high quality nickel copper cobalt platinum group elements resources in Botswana. Its principal assets are the Selebi Mines, comprising the Selebi and Selebi North nickel copper cobalt sulphide mines, and the Selkirk Mine, a nickel copper cobalt platinum group element sulphide property, both located in Botswana and held under ten year mining licences granted in…
Premium Resources Ltd. is a mineral exploration and evaluation company focused on the discovery and advancement of high quality nickel copper cobalt platinum group elements resources in Botswana. Its principal assets are the Selebi Mines, comprising the Selebi and Selebi North nickel copper cobalt sulphide mines, and the Selkirk Mine, a nickel copper cobalt platinum group element sulphide property, both located in Botswana and held under ten year mining licences granted in 2022 that are renewable upon submission of approved mine plans. The Selebi Mines include two operational shafts, associated rail power and road infrastructure, and are situated in the Central District of Botswana. The Selkirk Mine is located in the North East District and is supported by four surrounding prospecting licences. The company’s shares are listed on the TSX Venture Exchange under the symbol PREM and are quoted on the OTC Pink Open Market under the symbol PRMLF. The company’s activities include drilling programs, resource estimation, metallurgical testing, and the advancement of engineering studies aimed at moving the projects toward economic feasibility.
Premium Resources Ltd. does not currently generate revenue from mining production because it is still in the exploration and evaluation phase. The company raises capital through equity offerings, private placements, and strategic investments to fund drilling, resource definition, and development work. In June 2024, the company closed two tranches of a non brokered private placement, issuing 35,256,409 units at $0.78 per unit for gross proceeds of approximately $27.5 million. Each unit consisted of one common share and one common share purchase warrant. In March 2025, the company completed a significant refinancing that converted a three year term loan with Cymbria Corporation into equity and introduced a new strategic investor group. Future revenue will be derived from the sale of nickel, copper, cobalt, and platinum group elements once the Selebi and Selkirk mines transition into commercial production.
The company operates through the following segments.
- Selebi Mines: This segment includes the Selebi and Selebi North shafts, associated rail power and road infrastructure, and ongoing Phase 2 drill programs designed to expand the mineral resource estimate and support underground development activities. In 2023 the company commenced a Phase 2 drill program at the Selebi Mines completing 45,827 metres of drilling in 87 holes during 2024 and accumulating a total of 63,947 metres in 162 holes since the start of the program. Assays for 33,963 metres across 80 completed holes have not been incorporated into the initial mineral resource estimate filed in December 2024. The company has also begun testing deeper borehole electromagnetic plates from the N2 Limb and South Limb at Selebi North to further assess the mineralized system.
- Selkirk Mine: This segment encompasses the Selkirk nickel copper cobalt platinum group element sulphide mine, four surrounding prospecting licences, and related infrastructure. Activities include the resampling of historical drill core to augment the database, surface geophysical surveys using differential global positioning system and electromagnetic methods, and drilling programs to test prospecting targets. In January 2025 the company filed a mineral resource estimate for the Selkirk Mine in compliance with SEC Regulation S K 1300, providing a foundation for future economic studies. The company continues to transfer additional holes from Selkirk to the core processing facility at Selebi for further analysis.
Premium Resources Ltd. positions itself within the global battery metals sector where nickel and copper are essential for electric vehicle batteries and renewable energy storage. The company’s competitive advantages stem from the high quality nature of its nickel copper cobalt platinum group element deposits, the security of long term mining licences, and access to existing Botswana infrastructure including rail power and road networks. Botswana offers a stable mining jurisdiction with supportive government policies and a skilled workforce, which reduces development risk relative to many early stage explorers. While numerous competitors pursue similar battery metal projects worldwide, Premium Resources Ltd. differentiates itself by advancing two distinct sulphide systems that contain valuable platinum group elements in addition to base metals, thereby offering a diversified product mix.
As a preproduction company, Premium Resources Ltd. has no commercial customers at present. Its anticipated customers will include metal traders, smelters, and manufacturers that require nickel, copper, cobalt, and platinum group elements for stainless steel production, electric vehicle batteries, and other industrial applications. The company expects to sell concentrates or refined metals to international markets through off take agreements or spot transactions once production commences. Potential off take partners could include major battery material producers, automotive manufacturers, and metal trading houses seeking secure supplies of critical battery metals.