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Premier African CEO on Danakil deposit valuation

Premier African Minerals (LON:PREM) chief George Roach says the Danakil Potash deposit in Ethiopia is likely to attract major players in the agricultural mineral business after a recent definitive feasibility study published by Circum Minerals valued it as US$2.1bn.

Premier African has a 2% stake in Circum after it sold it Danakil in 2013 for US$5mln cash and a further 2mln shares.

Circum has now decided to appoint a major international investment bank to advise on the strategic alternatives while a number of Asian and Middle Eastern groups had expressed an interest in the project.

In a recent note, roker Shore Capital estimates Premier's Circum stake may be worth £27.1mln or 3.97p/share.

Quick facts: Premier African Minerals Ltd

Price: 0.0686 GBX

Market: AIM
Market Cap: £8.53 m

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