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Share Name Share Symbol Market Type Share ISIN Share Description
Premier African Minerals Limited LSE:PREM London Ordinary Share VGG7223M1005 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.06 0.055 0.065 0.06 0.06 0.06 18,102,382 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.1 -6.1 -0.1 - 7

Premier African Minerals Limited RHA Update

18/12/2019 12:29pm

UK Regulatory (RNS & others)


Premier African Minerals (LSE:PREM)
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RNS Number : 3567X

Premier African Minerals Limited

18 December 2019

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

For immediate release

18 December 2019

Premier African Minerals Limited

RHA Update

Premier African Minerals Limited ("Premier" or the "Company") is pleased to provide the following update on RHA Tungsten Pvt Ltd ("RHA") in which Premier has a 49% interest and is the operator.

Following the corporate update on 11 December, and further correspondence now received from the Zimbabwe Electricity Supply Authority ("ZESA"), Premier is pleased to confirm that the following items have now been sourced by ZESA, a changeover panel and 1.5 MVA 33/0.4V transformer.

We are further pleased to confirm that ZESA have provided RHA with a temporary solution whereby they are in the process of coupling two transformer units rated 1MVA 33/11kv and 1.6MVA 11/0.4kv into one unit that can be used at RHA while we await delivery of the other transformer. In terms of the changeover panel, this can be operated manually at site until such time as the item has been delivered and installed.

The overall effect of the above is that RHA will have access to electricity to power all facets of the operations from early January 2020.

George Roach, CEO commented: "I am very pleased that we managed to electrify RHA. When coupled with the plant optimisation, this will significantly reduce operating expenditure and generally further de-risk planned return to production.

I look forward providing further updates on the restart of operations at RHA."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged the release of this announcement on behalf of the Company was George Roach.

Enquiries:

 
                      Premier African Minerals        Tel: +44 (0)7734 
 Fuad Sillem                   Limited                          922074 
 Michael Cornish /    Beaumont Cornish Limited    Tel: +44 (0) 20 7628 
  Roland Cornish         (Nominated Adviser)                      3396 
                    ---------------------------  --------------------- 
 Jerry Keen/Edward   Shore Capital Stockbrokers   Tel: +44 (0) 20 7408 
  Mansfield                    Limited                            4090 
                    ---------------------------  --------------------- 
 

Notes to Editors:

Premier African Minerals Limited (AIM: PREM) is a multi-commodity mining and natural resource development company focused on Southern Africa with its RHA Tungsten and Zulu Lithium projects 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, the owners of the Danakil Potash Project in Ethiopia, which has the potential to be a world class asset.

 
 Glossary 
 "KV"    Kilovolt 
        -------------- 
 "MVA"   Mega Volt Amp 
        -------------- 
 "V"     Volt 
        -------------- 
 

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. 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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December 18, 2019 07:29 ET (12:29 GMT)

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