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Premier African Min - RHA Update

RNS Number : 3567X
Premier African Minerals Limited
18 December 2019
 

Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining

For immediate release

 

18 December 2019

 

Premier African Minerals Limited

 

RHA Update   

 

Premier African Minerals Limited ("Premier" or the "Company") is pleased to provide the following update on RHA Tungsten Pvt Ltd ("RHA") in which Premier has a 49% interest and is the operator.

Following the corporate update on 11 December, and further correspondence now received from the Zimbabwe Electricity Supply Authority ("ZESA"), Premier is pleased to confirm that the following items have now been sourced by ZESA, a changeover panel and 1.5 MVA 33/0.4V transformer.

We are further pleased to confirm that ZESA have provided RHA with a temporary solution whereby they are in the process of coupling two transformer units rated 1MVA 33/11kv and 1.6MVA 11/0.4kv into one unit that can be used at RHA while we await delivery of the other transformer. In terms of the changeover panel, this can be operated manually at site until such time as the item has been delivered and installed.

The overall effect of the above is that RHA will have access to electricity to power all facets of the operations from early January 2020.

George Roach, CEO commented: "I am very pleased that we managed to electrify RHA. When coupled with the plant optimisation, this will significantly reduce operating expenditure and generally further de-risk planned return to production.     

I look forward providing further updates on the restart of operations at RHA."  

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:

Fuad Sillem

Premier African Minerals Limited

Tel: +44 (0)7734 922074

Michael Cornish / Roland Cornish

Beaumont Cornish Limited

(Nominated Adviser)

Tel: +44 (0) 20 7628 3396

Jerry Keen/Edward Mansfield

Shore Capital Stockbrokers Limited

Tel: +44 (0) 20 7408 4090

 

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, 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, the owners of the Danakil Potash Project in Ethiopia, which has the potential to be a world class asset.

 

Glossary

"KV"

Kilovolt

"MVA"

Mega Volt Amp

"V"

Volt

 

Forward Looking Statements:

Certain statements in this announcement are or may be deemed to be forward looking statements. Forward looking statements are identified 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 reflect 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.


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 [email protected] or visit www.rns.com.
 
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