10th Sep 2014 07:51
LONDON (Alliance News) - Premier African Minerals Ltd saw its shares rise early Wednesday after it said that process test work results at its RHA Tungsten project in Zimbabwe had confirmed excellent recoveries and a marketable end product, meaning it can push ahead with securing off-take deals and updating the economic model for the mine.
The results were based on a mini pilot run in the processing plant, consisting of crushing, scrubbing and screening a bulk sample to finer and finer fractions. The test flow sheet produced two different concentrates: -6mm +1mm at 62.7% Wolframite and a -1mm at 67% Wolframite at a cumulative recovery of 77.3%.
"Determination of the concentrate grade and process recovery is a significant milestone in the development of the RHA mine. The fact that these positive results were achieved on a mini pilot scale allows us to finalise the flow sheet and plant design and proceed to order," Chief Executive George Roach said in a statement.
Roach said the company is now advancing talks on potential off-take and marketing agreements, and will update the economic model in its conceptual mining study released in September 2013 with these results and the enhanced resource it announced in May of this year.
The company said most aspects of the proposed flow sheets and plant design have now been finalised.
Premier African Minerals shares were up 2.4% at 1.33 pence early Wednesday.
By Steve McGrath; [email protected]; @stevemcgrath1
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