Premier African Minerals (LON:PREM) – CORP: RHA and fundraising update
Market Cap: £26m; Current Price: 0.65p
RHA ramping up and £2m raised
Plant modifications, including the installation of the XRT sorter is complete.
The Company has also raised £2,011,396 through the issue of 402,279,254 shares at a price of 0.5p.
Following the issue of shares the Company will have 4,385,022,019 shares in issue.
NORTHLAND CAPITAL PARTNERS VIEW: Positive news for Premier African Minerals with the RHA Tungsten Mine, located in Zimbabwe now ramping up production and its balance sheet strengthened with a £2m financing. The Company will use these funds to complete the maiden resource estimate at the Zulu Lithium Project, located in Zimbabwe and for exploration at the Catapu Limestone Project, located in Mozambique.
Dr Ryan D. Long +44 (0)20 3861 6621
rlong@northlandcp.co.uk
Botswana Diamonds (LON:BOD) – SPECULATIVE BUY*: Interims
Market Cap: £4.8m; Current Price: 1.3p
An interesting period lies ahead of the Company
H116 LBT decreased to £136k from £161k in H115.
Net debt increased to £146k in H116 from net cash of £311k in H115.
At the Frischgewaagt Project located in South Africa, 34 reverse circulation and 9 diamond holes have been drilled, of which 22 reverse circulation and 8 diamond holes intersected kimberlite. Petrographic and microdiamond analysis is ongoing with initial results expected in the coming months.
At the Maibwe joint venture located in Botswana, three reverse circulation holes have now been completed on PL186. Analysis expected to take two months.
In April, sampling and geophysics will be undertaken on the PL260 in Orapa and PL 135, 235 and 234 in Gope, as part of the Alrosa joint venture in Botswana.
NORTHLAND CAPITAL PARTNERS VIEW: Botswana Diamonds is approaching a very interesting period for the Company with microdiamonds results from the Frischgewaagt Project and Maibwe joint venture, and geophysics and sampling commence shortly at the Company’s joint venture projects with Alrosa.