Premier African Minerals Limited Appointment of Financial Advisor for RHA (6850I)

TIDMPREM

RNS Number : 6850I

Premier African Minerals Limited

23 March 2018

Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining

For immediate release

23 March 2018

Premier African Minerals Limited

Appointment of Financial Advisor for RHA

Premier African Minerals Limited ("Premier" or the "Company") is pleased to announce today that it has appointed Brandon Hill Capital Limited ("Brandon Hill") as financial advisor to assist the Company with regards to the funding and development of the RHA Tungsten Mine in Zimbabwe ("RHA") in which Premier has a 49% interest and is the operator.

George Roach, Premier's CEO, commented: "The ratification of the amendments to the Indigenisation and Economic Empowerment Act strongly reaffirms that Zimbabwe is open for business. Premier finds itself very favourably positioned to advance its well-established profile of exploration assets in Zimbabwe.

A major procedural hurdle in the ongoing discussions with our joint venture partner NIEEF has now been removed.

It is with great pleasure that I welcome Brandon Hill on board, they are widely recognised in the investment community for providing financial advice on transactions. I am pleased that their engagement is completely incentive driven with their principle focus being the future development of RHA."

Enquiries:

 
                          Premier African         Tel: [phone] 
 Fuad Sillem              Minerals Limited                  922074 
------------------  ---------------------------  ----------------- 
 Michael Cornish          Beaumont Cornish            Tel: +44 (0) 
  / Roland Cornish             Limited                20 7628 3396 
                         (Nominated Adviser) 
------------------  ---------------------------  ----------------- 
 Jerry Keen/Edward   Shore Capital Stockbrokers       Tel: +44 (0) 
  Mansfield                    Limited                20 7408 4090 
------------------  ---------------------------  ----------------- 
                        Brandon Hill Capital          Tel: +44 (0) 
 Jonathan Evans                Limited                20 3463 5000 
------------------  ---------------------------  ----------------- 
 

Beaumont Cornish Limited is acting solely as the Company's Nominated Adviser for the purposes of the AIM Rules and no one else and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the matters referred to in this announcement.

Notes to Editors:

Premier African Minerals Limited (AIM: PREM) is a multi-commodity mining and natural resource development company focused in Southern and Western Africa with its flagship RHA project in Zimbabwe.

The Company has a diverse portfolio of projects, which include tungsten, rare earth elements, lithium and tantalum in Zimbabwe, encompassing brownfield projects with near-term production potential to grass-roots exploration. In addition, the Company holds 5,010,333 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. Premier also has an interest in Casa Mining Limited, a privately-owned exploration company that has a 71.25% interest in the 1.5-million-ounce inferred resource Akyanga gold deposit in the DRC.

Forward Looking Statements:

Certain statements in this announcement are or may be deemed to be forward looking statements. Forward looking statements are identi ed 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 re ect the Directors' current beliefs and assumptions and are based on information currently available to the Directors. Many 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.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

ENDS

This information is provided by RNS

The company news service from the London Stock Exchange

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March 23, 2018 03:01 ET (07:01 GMT)