Premier African Minerals Limited Completion of Plant Upgrades at RHA (5295A)
March 24 2017 - 12:19PM
UK Regulatory
TIDMPREM
RNS Number : 5295A
Premier African Minerals Limited
24 March 2017
Premier African Minerals Limited / Ticker: PREM / Index: AIM /
Sector: Mining
For immediate release
24 March 2017
Premier African Minerals Limited
("Premier" or the "Company")
Completion of Plant Upgrades at RHA and return to Production
Premier African Minerals Limited, the AIM-traded,
multi-commodity resource and development Company focused on
Southern and Western Africa, is pleased to announce that the plant
modifications at RHA Tungsten mine in Zimbabwe ("RHA"), which
includes the installation of the XRT sorter based upgrading of run
of mine ore, is complete and commissioned and the mine is back in
production.
George Roach, Chairman and CEO commented: "I am pleased to
report that the upgraded plant is now fully commissioned and back
in production. We have commenced the optimisation process and I
expect the plant to steadily increase throughput and concentrate
production over the coming weeks to meet our operating cost and
revenue guidance, set out our RNS of the 30 January 2017, when we
achieve steady state operations. The upgrade has involved a major
rebuild of the crushing circuits and our team fully deserves our
appreciation. The guidance provided in this previous RNS remains
valid and RHA is expected to become cash generative in the near
future. I would also like to thank our shareholders for their
continued support during this transitional period for the
Company."
Enquiries
Premier African Minerals Tel: +44 (0)7734
Fuad Sillem Limited 922074
------------------ --------------------------- ------------------
Michael Cornish Beaumont Cornish Tel: +44 (0) 207
/ Roland Cornish Limited 628 3396
(Nominated Adviser)
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Jerry Keen/Edward Shore Capital Stockbrokers Tel: +44 (0) 207
Mansfield Limited 408 4090
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Beaufort Securities Tel: +44 (0) 20
Jon Belliss Limited 7382 8300
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Charles Goodwin/ Yellow Jersey PR Tel: +44 (0) 7747
Harriet Jackson Limited 788221
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Notes to Editor:
Premier African Minerals Limited (AIM: PREM) is a
multi-commodity mining and natural resource development company
focused in Southern and Western Africa with production started at
its flagship RHA project in Zimbabwe.
The Company has a diverse portfolio of projects, which include
tungsten, rare earth elements, gold, lithium and tantalum in
Zimbabwe and Benin, encompassing brownfield projects with near-term
production potential to grass-roots exploration. The Company
recently acquired a 52% controlling stake in Mozambique-based TCT
Industrias Florestais Limitada, which owns a substantial limestone
deposit and forestry business located on rail in the Sofala
Province of Mozambique. In addition, The Company holds 2 million
shares in Circum Minerals Limited ("Circum"), the owners of the
Danakil Potash Project in Ethiopia, which has the potential to be a
world class asset. At present those shares are valued at US$4
million based on the latest price at which Circum has accepted
subscriptions. Premier also has a 4.5% interest in Casa Mining
Limited, a privately-owned exploration company that has a 71.25%
interest in the 1.2 million ounce inferred resource Akyanga gold
deposit in the DRC.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
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