2nd Apr 2015 09:52
Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining
For immediate release
2 April 2015
Premier African Minerals Limited
("Premier" or the "Company")
Construction on schedule at RHA Tungsten Project
Premier African Minerals Limited, the AIM-traded, multi-commodity natural resource company with mineral projects located in Southern and Western Africa, provides details of the construction progress on its flagship RHA Tungsten Project ("RHA") in Zimbabwe. Premier is the operator of RHA and holds a 49% interest.
Highlights
· Plant fabrication remains on schedule for shipment from Johannesburg to RHA in May 2015;
· Earthworks ahead of schedule; and
· Waste stripping commenced at open pit mining area.
Please visit our website to view images of the progress made with the construction of the plant at www.premierafricanminerals.com
George Roach, CEO, commented:
"Construction remains on time and on budget. It is most pleasing being able to report that the first bench of the open pit is being cut and stripping has commenced. We look forward to updating shareholders in due course."
Enquiries
Pamela Hueston | Premier African Minerals Limited | Tel: +44 (0) 755 778 3855 |
Michael Cornish / Roland Cornish | Beaumont Cornish Limited (Nominated Adviser) | Tel: +44 (0) 207 628 3396 |
Jerry Keen/ Edward Mansfield | Shore Capital Stockbrokers Limited | Tel: +44 (0) 207 408 4090 |
Kelsey Traynor | Yellow Jersey PR | Tel: +44 (0) 779 900 3220 |
Further information
Process Plant
The fabrication of the process plant is on schedule for transport from Appropriate Process Technologies ("APT") in Johannesburg in May 2015. The Jig has been tested and delivered to APT.
Earthworks and Civils work
Earthworks are ahead of schedule at 21% actual completion versus 8% planned completion. The RHA Open-pit mining pad has been completed and first civil works have started.
Infrastructure
Infrastructure development (power and water supply and reticulation) is underway with all trenching for water supply lines completed.
Mining
Development of the open pit mining area is on schedule, with the first waste stripping started.
Qualified Person
Werner Swanepoel, Chief Operating Officer of Premier, has reviewed and approved this release. Mr Swanepoel has 21 years' experience in the Southern African mining industry and holds a Master's degree in Mining Engineering, an MBA and Mine Manager's Certificates in both Metalliferous and Coal Mining. He is a registered Professional Engineer with the Engineering Council of South Africa.
Forward Looking Statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors. A number of factors could cause actual results to differ materially from the results discussed in the forward looking statements including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company. Although any forward looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements.
Notes
Premier African Minerals Limited (AIM: PREM) is a multi-commodity exploration and development company focused in Southern and Western Africa with near term Tungsten production at its flagship RHA project in Zimbabwe.
The Company has a diverse portfolio of projects, which includes tungsten, rare earth elements, gold, lithium and tantalum in Zimbabwe and Togo, encompassing brownfield projects with near-term production potential to grass-roots exploration. The Company also holds 2 million shares in Circum Minerals Limited ("Circum"), the owners of the Danakil Potash Project in Ethiopia, which has the potential to be a world class asset. At present those shares are valued at US$2.5 million based on the latest price at which Circum has accepted subscriptions.
ENDS
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