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Premier African Minerals looking at other options for RHA

The company said it had received a direct approach from a potential alternative buyer of wolframite

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Money from NIEFF has yet to come through

Premier African Minerals PLC (LON:PREM) has started talks with other parties about the development of the RHA tungsten mine.

The junior has agreed to a direct approach from a potential alternative buyer of wolframite, while two Development Finance Institutions are to conduct due diligence.

WATCH: Premier African CEO would be disappointed if RHA not producing this year

Zimbabwe indigenisation authority NIEFF had promised US$6mln to help get RHA up and running again.

This money has yet to come through, though Premier is stil confident it will meet its obligation.

Premier is also waiting to hear on its  Exclusive Prospecting Order application for areas surrounding its Zulu lithium progress, where it believes the additional acreage will help with funding for a Definitive Feasibility Study.

Quick facts: Premier African Minerals Ltd

Price: 0.13 GBX

AIM:PREM
Market: AIM
Market Cap: £14.3 m
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Watch

Premier African CEO would be disappointed if RHA not producing this year

George Roach, Premier African Minerals PLC’s (LON:PREM) chief executive remain confident that the US$6mln earmarked by the Zimbabwe government to re-start the RHA tungsten mine will be forthcoming. Once the money comes through he is confident RHA can be back in operation within 100...

on 7/6/19

2 min read