7th Oct 2014 16:34
LONDON (Alliance News) - Premier African Minerals Ltd Tuesday said dewatering of Old Mine workings on its RHA Tungsten project in Zimbabwe has commenced, following the grant of a discharge permit.
"As soon as the Old Mine is dewatered, it will be made safe and accessed to allow confirmatory work on historic non-compliant ore reserves to commence, whilst surface work traces the full strike length of the lode 1 and 2 ore body that will be the initial open pit target," said Chief Executive George Roach in a statement.
The multi-commodity natural resource company with mineral projects located in southern and western Africa, also said that a preliminary draft of the updated Preliminary Economic Assessment has been received, and is currently under review for release during October.
"The preliminary draft confirms management's confidence in the project and compliments our decision to proceed to early production on a low capital cost basis immediately," Roach said.
Premier African Minerals shares closed down 4.1% Tuesday at 1.29 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Premier African Minerals