11th May 2015 09:15
LONDON (Alliance News) - Premier African Minerals Ltd Monday said Circum Minerals Ltd, in which it has a 2.15% stake, has put out data showing that Circum's Danakil potash project has the potential to be a "major world-class potash asset" and it's confident it will get a "substantial" uplift in the valuation.
Circum is currently in the process of completing a private placing of approximately USD30 million to further fund and progress the project, and plans to complete the Definitive Feasibility Study in July and then expects to get a mining license in the second half of 2015.
Premier African Minerals shares were up 4.3% at 1.77 pence Monday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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