Premier African Minerals Limited Update on the Zimbabwe Minerals Projects (5570J)
06 December 2018 - 12:10AM
UK Regulatory
TIDMPREM
RNS Number : 5570J
Premier African Minerals Limited
05 December 2018
Premier African Minerals Limited / Ticker: PREM / Index: AIM /
Sector: Mining
For immediate release
5 December 2018
Premier African Minerals Limited
Update on the proposed restructuring of Zimbabwe Minerals
Projects
Premier African Minerals Limited ("Premier" or the "Company") is
pleased to confirm that in the period following the announcement of
the 7 November 2018, due diligence as described in that
announcement has progressed satisfactorily and Premier and KME have
agreed to proceed to a formal framework agreement irrespective of
the outcome of ongoing discussions that are expected to resolve the
equity status at RHA Tungsten Pvt Ltd. The Company will provide
further updates once it has agreed the framework agreement.
Shareholders are reminded that this transaction is subject to
their approval, completion and signing of the formal framework
agreement and regulatory approval. When all conditions are met, the
transaction will result in a direct distribution of Newco (as
defined in RNS dated 7 November 2018) shares on a pro rata basis to
holders of Premier shares when shareholder consent is granted, and
Newco shares are admitted to trading.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014. The person who arranged the
release of this announcement on behalf of the Company was George
Roach.
Enquiries:
Premier African Minerals Tel: +44 (0)7734
Fuad Sillem Limited 922074
Michael Cornish / Beaumont Cornish Limited Tel: +44 (0) 20 7628
Roland Cornish (Nominated Adviser) 3396
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Jerry Keen/Edward Shore Capital Stockbrokers Tel: +44 (0) 20 7408
Mansfield Limited 4090
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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 and Zulu projects in
Zimbabwe.
The Company has a diverse portfolio of projects, which include
tungsten, rare earth elements, lithium and tantalum in Zimbabwe,
encompassing brownfield projects with near-term production
potential to grass-roots exploration. In addition, the Company
holds 5,010,333 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. Premier also has an interest
in Arc Minerals that has a number of mineral assets in Europe and
Africa.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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