Premier African Minerals Limited (LON:PREM) has commenced the diamond drilling programme at the open pit at the RHA tungsten mine.
As previously announced, Premier plans to drill a series of 15 holes to determine the depth at which the ore body is sufficiently consolidated to allow resumption of open pit mining. This stage of the drill programme is expected to complete by end-September and noteworthy results will be published as they are available.
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"Contact with the government of Zimbabwe remains open and we expect that following the inauguration of the president, final hurdles on the equity restructure at RHA will conclude," the company added.
Northland Capital Partners said it is positive to see Premier African Minerals recommencing work at the RHA tungsten project, which has been dormant for some time.
"The company is confident that following the inauguration of the president of Zimbabwe (26.08.18) the equity restructure of RHA will be finalised, resulting in Prem receiving majority ownership of the project. This will be a major de-risking milestone for the company and demonstrates an improved business environment in Zimbabwe. The short drill programme at RHA will provide us with important details regarding the potential to re-open the pit," the broker said.
Premier African Minerals is ready to deliver for #zimbabwe #prem pic.twitter.com/8I4qy4nqvF
— Facts only (@wizydave) August 27, 2018
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