Premier African Minerals Limited Update on RHA (7751S)
13 March 2019 - 11:55PM
UK Regulatory
TIDMPREM
RNS Number : 7751S
Premier African Minerals Limited
13 March 2019
Premier African Minerals Limited / Ticker: PREM / Index: AIM /
Sector: Mining
For immediate release
13 March 2019
Premier African Minerals Limited
Update on RHA
Premier African Minerals Limited ("Premier" or the "Company") is
pleased to report that the Company received a letter on the
afternoon of 12 March from the Zimbabwe Ministry of Industry,
Commerce and Enterprise Development ("Ministry") which states that
the Ministry has secured a proposed investment of US$6 million
investment into RHA Tungsten (Private) Limited ("RHA") for the
immediate recommissioning of mining operations, subject to
completion of the appropriate agreements.
The letter also states that Zimdiv Holdings Limited, which is a
wholly-owned subsidiary of Premier and which manages the RHA Mine,
will be awarded another management agreement on similar terms to
the current management agreement which was entered into on 23
September 2013. The Company will provide further updates once the
agreements have been signed.
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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Tom Curran/Elliot Tel: +44 (0) 20 3700
Hance SVS Securities Limited 0100
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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.
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. Many 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.
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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