Premier African Minerals Limited Zulu Update (0215U)
21 November 2023 - 12:20AM
UK Regulatory
TIDMPREM
RNS Number : 0215U
Premier African Minerals Limited
20 November 2023
20 November 2023
Premier African Minerals Limited
Zulu Update
Premier African Minerals Limited ("Premier" or the "Company"),
provides this update on operations at Premier's Zulu Lithium and
Tantalum Project ("Zulu").
Zulu Update
Further to the announcement on 14 November 2023, Premier
confirms that current plant operations have been partially
suspended to allow for civil construction to commence in
preparation for the installation of the 55 tons per hour ball mill
and other associated structures. Those aspects of the plant that
will continue to run include the X-Ray Transmission ("XRT") and
Ultraviolet ("UV") sorters (collectively the "Ore Sorters") that
have not been fully commissioned and optimised at this time.
At the same time, the plant will be prepared to recommence
production at the original design capacity and compromises needed
for the lower tonnages fed to date will be removed. All
instrumentation will be inspected and repaired as needed during
this temporary shutdown period of the plant.
Mining operations will continue, intended to enlarge the pit
envelope and allow for better selective mining and the avoidance of
waste rock contaminating the ore feed to the plant.
Tests will be conducted, and a decision will be taken regarding
possible reprocessing of concentrates produced that carry excessive
contamination from country rock and gangue material that should
have been eliminated to a far greater extent than has occurred.
Premier continues to see grades of spodumene produced in its
onsite laboratory from Run of Mine ("ROM") ore when the
contaminants not associated with pegmatite material are removed
that meet the Offtake and Prepayment Partner requirements.
Optimisation of the Ore Sorters and the pit development both noted
above, should largely eliminate this problem when plant operations
are recommissioned.
Premier continues to update its Offtake and Prepayment Partner
and sincerely appreciates the support it continues to receive.
Shareholder Q & A
George Roach will hold a virtual Questions and Answers session
with shareholders this evening. Please register your interest with
the Company at wilna@regentresources.co.za .
Market Abuse Regulation
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK Domestic Law by virtue of the European Union (Withdrawal) Act
2018.
The person who arranged the release of this announcement on
behalf of the Company was George Roach.
A copy of this announcement is available at the Company's
website, www.premierafricanminerals.com
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"
"planned" "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 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.
Enquiries:
George Roach Premier African Minerals
Limited Tel: +27 (0) 100 201 281
Michael Cornish / Beaumont Cornish Limited
Roland Cornish (Nominated Adviser) Tel: +44 (0) 20 7628 3396
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Douglas Crippen CMC Markets UK Plc Tel: +44 (0) 20 3003 8632
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Toby Gibbs/Rachel Shore Capital Stockbrokers
Goldstein Limited Tel: +44 (0) 20 7408 4090
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Ends
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