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Premier African cost cutting measures are keeping the show on the road

Premier African Minerals has a diverse portfolio of assets across southern Africa

Premier African Minerals Ltd -
The Zulu lithium project continues to show promise

Premier African Minerals Ltd (LON:PREM) lost US$18mln after tax in the six months to June 2019 and closed out the period with US$1.2mln cash in the bank.

During the period work continued on the company’s RHA tungsten project and on the Zulu lithium project, both in Zimbabwe.

Premier African also said that it was encouraged by conditions in Zimbabwe in the post-Mugabe era and urged the new government to meet its commitments, not least to Premier African itself.

Post-period end, chairman Michael Foster resigned, but what was perhaps more noteworthy was that Neil Herbert, a mining entrepreneur with an extremely successful track record, rejoined the board.

Quick facts: Premier African Minerals Ltd

Price: 0.135 GBX

AIM:PREM
Market: AIM
Market Cap: £14.86 m
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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...

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