Premier African Minerals Limited Zulu Lithium Update (7329X)
April 27 2023 - 7:00AM
UK Regulatory
TIDMPREM
RNS Number : 7329X
Premier African Minerals Limited
27 April 2023
27 April 2023
Premier African Minerals Limited
Zulu Lithium Update
Premier African Minerals Limited ("Premier" or the "Company"),
is pleased to provide a further update on progress at Zulu Lithium
and Tantalum Project ("Zulu").
George Roach, CEO commented , "Subsequent to our update of 12
April 2023, Premier is pleased to provide this additional progress
report. Following commissioning of all plant components, work on
optimisation of the plant and process control procedures to achieve
nameplate throughput continues.
The plant has demonstrated its ability to float Mica/Lepidolite
rich concentrates and Spodumene. Open pit mining operations
continue and as the pit expands, we are encountering less weathered
ore than was originally anticipated and seeing an ore body that is
conforming to the predicted internal geological mining model. This
is particularly important and will add confidence to future
operating guidance.
As announced on the 29 March 2023, cashflow is constrained at
Zulu, this is expected to be short term and Premier will implement
applicable financing measures to deal with this in the lead up to
first revenues from sale of concentrates in the coming weeks.
Further near-term updates will follow.
Video of floatation in the wet circuit of Zulu plant:
Your browser does not support HTML5 video.
The person who arranged the release of this announcement on
behalf of the Company was George Roach.
Enquiries:
George Roach Premier African Minerals Tel: +27 (0) 100
Limited 201 281
Michael Cornish Beaumont Cornish Limited Tel: +44 (0) 20
/ Roland Cornish (Nominated Adviser) 7628 3396
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John More/Toby Shore Capital Stockbrokers Tel: +44 (0) 20
Gibbs Limited 7408 4090
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Forward Looking Statements:
Certain statements in this announcement are or may be deemed to
be forward looking statements. Forward looking statements are
identi ed 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 re ect
the Directors' current beliefs and assumptions and are based on
information currently available to the Directors. A number of
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.
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 Tungsten and Zulu Lithium
projects in Zimbabwe.
The Company has a diverse portfolio of projects, which include
tungsten, rare earth elements, lithium and tantalum in Zimbabwe and
lithium and gold in Mozambique, encompassing brownfield projects
with near-term production potential to grass-roots exploration. The
Company has a ccepted a share offer by Vortex Limited ("Vortex")
for the exchange of Premier's entire 4.8% interest in Circum
Minerals Limited ("Circum"), the owners of the Danakil Potash
Project in Ethiopia, for a 13.1% interest in the enlarged share
capital of Vortex. Vortex has an interest of 36.7% in Circum .
In addition, the Company holds a 19% interest in MN Holdings
Limited, the operator of the Otjozondu Manganese Mining Project in
Namibia.
Ends
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April 27, 2023 08:00 ET (12:00 GMT)
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