7th Aug 2015 07:26
LONDON (Alliance News) - Premier African Minerals Ltd on Friday noted the definitive feasibility study issued by Circum Minerals Ltd on its Danakil potash project in Ethiopia.
Premier African owns a 2% stake in Circum.
The AIM-listed company said particularly significant to it is that the project's net present value has been estimated at USD2.1 billion and that Circum is in the process of hiring an investment bank, which is did not name, to advise on the strategic options for the site.
Circum said it has already seen interest from a number of Asian and Middle Eastern-based group in becoming involved in the project.
Premier African shares were up 6.7% to 2.695 pence in early trade on Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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