Premier African Minerals Share Discussion Threads

[king kong dong] 12/12/2017 07:23

Mark, i disagree 100% - nowhere does it say that, in fact it says just the opposite.

'Underground mining and on strike development are progressing well. The monthly target tonnage required to achieve profitable operations at RHA at projected resource grade, remains less than the projected 6,000 tonnes per month mining target.'

As they are owed $20m by the Zimbabweans they probably want to see more of that.
Secondly, what he does say is 'any further working capital provided to RHA from the end of this year will only be provided to bridge time between availability of concentrate to ship and the date of payment.'

[highly geared] 12/12/2017 07:22

RHA remains a work in progress albeit all the spade work and plant optimisation done. Q1 2018 will confirm and a clear statement that no more money required to be spent on it.

[doctor 69] 12/12/2017 07:21

MarkThe main point is production has started and there is money to come in be a few weeks down the line

[ny boy] 12/12/2017 07:17

Spectacular

[markth126] 12/12/2017 07:15

Rha does not sound profitable!! Read roaches statement

[doctor 69] 12/12/2017 07:14

So rha on track , sounds profitable , Zulu stunning

[highly geared] 12/12/2017 07:11

Extremely good grades being discovered. This is getting better and better. Sit tight and watch this develop through 2018. If they can get an expanded Jorc resource published in H1 2018 that triples the current, then the NPV will push up north of £1.5 billion and will see a JV or buy out.

[mike_f] 12/12/2017 07:10

News:George Roach, Premier's CEO, commented: "The mineralisation and assay results from this hole are spectacular. Not often is a grade of 4.24% Li2O seen in drill core. Together with other known results previously reported, this supports our declared exploration target of 60 to 80 million tonne in the step-out zone. With true widths at approximately two thirds of the drilled width, Zulu is now justifying our belief that this is a tier 1 asset. Results such as these strongly underwrite our recently released scoping study and fully support our confidence in this world-class deposit. At the same time, we are encouraged by the changing environment in Zimbabwe, particularly that under new proposals related to Lithium mining, we will be encouraged to develop to Lithium Carbonate production and may retain sole ownership of the entire project."What an intersection 4.24% is!! Blimey

[moneymunch] 12/12/2017 07:09

HA Update
RNS Number : 0256Z
Premier African Minerals Limited
12 December 2017


12 December 2017





Premier African Minerals Limited

RHA Update





Premier African Minerals Limited, ("Premier" or the "Company") is pleased to provide an update on the operations at the RHA Tungsten Mine ("RHA") in Zimbabwe.



Open Pit Review

In order to confirm the in-situ resource grade, stripping ratio and concentrate recovery through the plant, RHA has completed the mining phase of a large bulk sample containing 8,272 tonnes of ore from the open pit of which 7,247 tonnes have been processed. The results will guide future open pit operations and cost effectiveness or otherwise, of blending ore from the open pit with underground ore. Processing of the remaining component of open pit ore through the plant will take place when the mining contractor has completed fragmentation of large boulders.



Underground Operations

Underground mining and on strike development are progressing well. The monthly target tonnage required to achieve profitable operations at RHA at projected resource grade, remains less than the projected 6,000 tonnes per month mining target. 3,700 tonnes of ore from on strike development is available on the ROM and this tonnage is expected to reach 6,000 tonnes during December 2017 and to continue at this rate or greater for the foreseeable future. Processing of this ore through the plant commenced on the 6th December 2017. The RNS dated 29 September 2017 sets out the parameters required to achieve breakeven throughput at RHA.



Plant Performance

Plant performance is encouraging, and the extensive maintenance and optimisation work completed over the past few months has seen improved plant recoveries, when plant availability maintains satisfactory levels of performance. Plant throughput is 700 tonnes per day and plant performance is primarily constrained because of a high fine particle percentage in the open pit ore. Processing of underground ore only and/or mixing of open pit with underground ore is likely to improve plant performance as well as overall recoveries of concentrate even further.



Finance

Capital budgets for the underground operations at RHA are fully funded and no portion of the recent financing announced on 20 November 2017 has been used for this purpose. Premier does not expect to provide any significant financing for future RHA operations after the 31 December 2017. And, any further working capital provided to RHA from the end of this year will only be provided to bridge time between availability of concentrate to ship and the date of payment.



To date, RHA has been sole funded by Premier and has received no contribution from the National Indigenisation and Economic Empowerment Board ("NIEEB"), which holds a 51% interest in RHA. Premier is owed in excess of US$20 million before any adjustment for the true cost of that debt. Premier continues to accrue lease payments for the plant and equipment at RHA, which are solely owned by Premier on a fully secured basis.



Afmine

The Company also issued today 59,756,000 new Ordinary Shares at an issue price of 0.5 pence per new Ordinary Share to African Mining and Exploration ("Afmine"), the principal mining contractor at RHA as payment for services rendered by Afmine in relation to ongoing mining operations as detailed in the announcement dated 23 November 2016 (the "Afmine Shares").

The Afmine Shares will rank pari passu in all respects with the existing Ordinary Shares. Application will be made for the Afmine Shares to be admitted to trading on AIM and admission is expected to take place on or around 18 December 2017.

Following the issue of the Ordinary Shares, the Company's issued share capital consists of 6,557,972,350 ordinary shares, with voting rights. This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

George Roach, Premier's CEO, commented: "With ongoing negotiations with potential partners in regard to Zulu Lithium, and some additional stellar drilling results imminent, RHA is progressing as planned, and with Premier having secured further funding, I sincerely believe that the value of Zulu and Circum holdings should be reflective in our market capitalisation. Regardless of the performance at RHA during December 2017, Premier does not intend to provide any further finance to RHA for normal operations or capital unless RHA is trading profitably and then only for bridging finance."

[moneymunch] 12/12/2017 07:06

George Roach, Premier's CEO, commented: "The mineralisation and assay results from this hole are spectacular.!!! Gla ;-)

[moneymunch] 12/12/2017 07:04

Zulu Drilling Update
RNS Number : 0257Z
Premier African Minerals Limited
12 December 2017


12 December 2017







Premier African Minerals Limited

Zulu Drilling Update

Up to 4.24% Li2O in Spodumene at Zulu





Premier African Minerals Limited ("Premier" or the "Company") is pleased to announce further assay results from the Company's Zulu Lithium Project near Fort Rixon in Zimbabwe ("Zulu").



The focus of the current drilling programme is to upgrade and expand the Resources in the Main Zone, where the Company has declared a Maiden Mineral Resource Estimate of 20.1 million tonnes grading 1.06% Li₂O, and to convert the exploration targets in both the Main Zone and step-out zones to code compliant status.



Highlights:

· Hole ZDD-45, located in the step-out zone, 220m south-east of the Main Zone, intersected 68m of mineralised pegmatite from 101 meters down hole. Assay results from the first 38.84m analysed contains an average grade of 1.55% Li2O in multiple intersections, including:

Ø 8.22m at 1.96% Li2O from 101.24m

Ø 3.53m at 1.06% Li2O from 111.70m

Ø 1.20m at 2.08% Li2O from 124.40m

Ø 11.47m at 1.90% Li2O from 126.77m

§ Including 0.95m at 4.24% Li2O

Ø 8.48m at 1.25% Li2O from 138.96m

· Results are still pending for a further 30m of intersected pegmatites in this drill hole



George Roach, Premier's CEO, commented: "The mineralisation and assay results from this hole are spectacular. Not often is a grade of 4.24% Li2O seen in drill core. Together with other known results previously reported, this supports our declared exploration target of 60 to 80 million tonne in the step-out zone. With true widths at approximately two thirds of the drilled width, Zulu is now justifying our belief that this is a tier 1 asset. Results such as these strongly underwrite our recently released scoping study and fully support our confidence in this world-class deposit. At the same time, we are encouraged by the changing environment in Zimbabwe, particularly that under new proposals related to Lithium mining, we will be encouraged to develop to Lithium Carbonate production and may retain sole ownership of the entire project."



Drilling at Zulu:

The Company has now completed a further 24 drill holes, equivalent to 3,638.54m since completion of the initial 2,500m drilling programme that resulted in the Maiden Inferred Mineral Resource Estimate at Zulu of 20.1 million tonnes grading 1.06% Li₂O (as announced on 6 June 2017). The current drilling programme is focussed on expanding as well as upgrading the resources in the Main Zone, and, to delineate further the Li mineralisation in the new south-eastern zone. All of the 24 new drill holes have intersected mineralisation with ZDD-45 having the best intersections so far. ZDD-45 was drilled on an apparent triple junction of step-out zones SO1, SO2 and the Main Zone. The intersected pegmatites are predominantly spodumene rich, petalite and lepidolite are scarce. The table below sets out the intersections from bore hole ZDD-45.

[moneymunch] 11/12/2017 22:11

Cheers forwood, it all looks very promising here, and fingers crossed crossed for a positive update that will be well received.....and so plenty of potential upside from this bargain low imho....Ukog's near term fortunes are dependent on decent flow rates from BB...and still every chance despite the delays. Gl ;-)

[temmujin] 11/12/2017 21:32

ive discovered another 50 bagger..if you look at my research on Inspirit Energy INSP the takeover thread you will see the research is rock solid...i believe Centrica will buy them out for £50m plus...they bought out a similar firm for £145m a few years ago and this bioler technology is far superior..ive done all the hard work for you...price is 0.1p and market cap about £1m...and guess what Centrica announced today a new joint venture company with a norwegian firm...the name Spirit Energy!

[the bull] 11/12/2017 16:04

I'll let others do that and then I can try catching vitec up

[doctor 69] 11/12/2017 15:37

Full ask paid

[ihavenoclue] 11/12/2017 14:31

The Bull ... go for it ... short it from here

[mrphiljones] 11/12/2017 13:34

No chance now IMHO....

[the bull] 11/12/2017 13:10

I hovered on the buy button this morning but would rather pick them up sub 0.04

[forwood] 11/12/2017 12:55

Good to see you here MM. I think this has even better prospects than UKOG.

[doctor 69] 11/12/2017 11:41

Donald lots of snow here

[dodge city] 11/12/2017 09:27

Clearly the RNS re RHA which was promised 2 weeks ago has been held back for some mysterious reason....