Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Premier African and its multi-commodity aims in Africa

As well as RHA and Zulu, the firm has assets in Mozambique and a stake in private firm Circum Minerals
Premier African and its multi-commodity aims in Africa
The firm has got multiple projects under many commodities in Africa

While the current focus is on lithium and tungsten and smallcap investor David Lenigas, there is more to Premier African Minerals Ltd (LON:PREM) than that.

The firm, according to its website, is developing multi-commodity exploration projects in Africa and it has made some big strides recently.

As well as lithium at Zulu, the group is developing the RHA tungsten mine in Zimbabwe, where production starts this year.

It also has assets in Mozambique and a stake in private firm Circum Minerals (which it has just increased to 3.7%) that is developing the Danakil Potash project in Ethiopia.

RHA and tungsten

The RHA deposit is around 800m in strike length and 300m wide, and the mine uses simple gravity techniques to extract wolframite (tungsten).

There have been issues along the way to get it up and running but these are being resolved, the firm assured.

Latest news, in July, was that the plant and operations have stabilised.

The plant is currently processing ore at approximately 55% of the XRT (X-ray) sorter capacity and higher grades of ore are needed to move RHA up to optimal production levels.

Zulu and lithium

At Zulu, significantly regarded as potentially the largest undeveloped lithium bearing pegmatite in Zimbabwe, Premier has discovered six new pegmatite zones.

The company is now looking at further exploration efforts on these new zones to establish the continuation, as well as depth extensions, following the completion of another 11 drill holes.

Zulu currently boasts a resource of 20.1 mln tonnes grading 1.06% Li₂O.

Lenigas a consultant

Meanwhile, David Lenigas, a veteran of the resource sector and small cap promoter, is involved as a consultant to carry out an independent review for the project - looking at potential strategic investors or joint ventures as well as financing.

Roach told Proactive he was very excited at Lenigas's appointment and believes that Zulu has "world scale potential written all over it".

A limestone deposit in Mozambique ... and forestry

Other interests include the Catapu forestry deposit that lies near the railway in the Sofala province, which the firm bought via its purchase of a 52% interest in a Mozambique firm, which also holds a 24,821 ha hardwood forestry concession.

Premier plans to start an initial exploration and assessment work programme on the limestone deposit, which is expected to provide a maiden resource and preliminary scoping study late this year. The exploration programme is fully funded.

In Togo ...

Premier has four assets - the Pagala zinc exploration project; the Haito nickel project, the Kara - Niamtougou uranium site and the Dapaong gold project.

Also worth noting in Zimbabwe, the firm has the Katete project which comprises 25 claim blocks prospective for Rare Earth Elements (REE). It is also investigating a 1,350-hectare area centred on the dormant Tinde Fluorspar mine and has the Lubimbi rare earth project.

View full PREM profile View Profile

Premier African Minerals Ltd Timeline

Related Articles

Royal Road Minerals' Nicaraguan ambitions starting to take shape
September 06 2017
Caza, which it has now bought, controlled land in the highly prospective but undeveloped gold belts of Nicaragua
July 03 2018
The company’s goal is to be a leader in the battery metals sector, with cleaner cobalt in Australia
August 02 2018
Shefa Yamim has a highly prospective gemstone project in Israel

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use