10th Feb 2015 10:27
LONDON (Alliance News) - Premier African Minerals Ltd saw its share jump Tuesday after it gave an update on its mineral projects, including news that it has seen "encouraging", positive results from the open pit trenching programme at its RHA tungsten project.
Premier African is a multi-commodity natural resource company, which has mineral projects located in Southern and Western Africa.
The company's share rose 14.4% to 0.944 pence mid-morning Tuesday after it said that the positive results from the open pit trenching programme at RHA, both confirms the geological model and offers the prospect of additional high grade mineralisation within the pit envelope.
"With the prospect of resultant benefits in grade, stripping ratio and operating costs, together with confirmation that at this time RHA remains on track for plant delivery and commissioning in May," said Chief Executive George Roach in the statement, stating that risk continues to reduce and confidence in the project continues to improve.
In the company's statement, it said that it will move its development focus onto the Zulu lithium and tantalum project immediately after the RHA project is cash generative.
"Similarly [the Globe graphite project] whilst offering good graphitic carbon opportunity will benefit from the potential poly-metallic mineralisation that in the context of other graphite developments is essential if this is to develop further," said Roach.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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