Premier African Minerals Ltd (LON:PREM)

Premier African Minerals Ltd (LON:PREM)


Share Price
0.08 p
Change
0 (0.00 %)
Market Cap
£5.99 m
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Premier African Minerals Ltd RNS Release

Update on RHA


RNS Number : 7751S
Premier African Minerals Limited
13 March 2019
 

Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining

For immediate release

 

13 March 2019

 

Premier African Minerals Limited

Update on RHA

 

Premier African Minerals Limited ("Premier" or the "Company") is pleased to report that the Company received a letter on the afternoon of 12 March from the Zimbabwe Ministry of Industry, Commerce and Enterprise Development ("Ministry") which states that the Ministry has secured a proposed investment of US$6 million investment into RHA Tungsten (Private) Limited ("RHA") for the immediate recommissioning of mining operations, subject to completion of the appropriate agreements.

The letter also states that Zimdiv Holdings Limited, which is a wholly-owned subsidiary of Premier and which manages the RHA Mine, will be awarded another management agreement on similar terms to the current management agreement which was entered into on 23 September 2013. The Company will provide further updates once the agreements have been signed.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged the release of this announcement on behalf of the Company was George Roach.

 

Enquiries:

Fuad Sillem

Premier African Minerals Limited

Tel: +44 (0)7734 922074

Michael Cornish / Roland Cornish

Beaumont Cornish Limited

(Nominated Adviser)

Tel: +44 (0) 20 7628 3396

Jerry Keen/Edward Mansfield

Shore Capital Stockbrokers Limited

Tel: +44 (0) 20 7408 4090

Tom Curran/Elliot Hance

SVS Securities Limited

Tel: +44 (0) 20 3700 0100

 

Notes to Editors:

Premier African Minerals Limited (AIM: PREM) is a multi-commodity mining and natural resource development company focused on Southern Africa with its RHA and Zulu projects in Zimbabwe.

 

The Company has a diverse portfolio of projects, which include tungsten, rare earth elements, lithium and tantalum in Zimbabwe, encompassing brownfield projects with near-term production potential to grass-roots exploration. In addition, the Company holds 5,010,333 shares in Circum Minerals Limited ("Circum"), the owners of the Danakil Potash Project in Ethiopia, which has the potential to be a world class asset.

 

 

Forward Looking Statements:

Certain statements in this announcement are or may be deemed to be forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'' ''could'' "should" ''envisage'' ''estimate'' ''intend'' ''may'' ''plan'' ''will'' or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth results of operations performance future capital and other expenditures (including the amount. nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.  Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward looking statements.

 

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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