Construction Update

RNS Number : 1665O

Premier African Minerals Limited

26 May 2015

 

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

For immediate release

 26 May 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 resource and development company focused on 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

·     Process plant delivered to RHA on schedule.

·     Offloading of plant has been completed.

·     Management team induction completed.

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:

"Appropriate Process Technologies ("APT") the manufacturers of the process plant who are responsible for assembly on site and commissioning, undertook that commissioning would be complete by 3 June 2015. Mining continues to progress well and visible mineralisation continues to confirm the geological model. Subject to APT meeting their undertakings, we expect to produce concentrate by the end of the first week of June 2015. I look forward with great excitement to the transition from exploration and development company to producing mining company."

Enquiries

Pamela Hueston	Premier African Minerals Limited	Tel: [phone]
Michael Cornish / Roland Cornish	Beaumont Cornish Limited (Nominated Adviser)	Tel: [phone]
Jerry Keen/ Edward Mansfield	Shore Capital Stockbrokers Limited	Tel: [phone]
Kelsey Traynor/Dominic Barretto	Yellow Jersey PR Limited	Tel: [phone]

Further Information

Process Plant

The complete process plant, except for the cone crusher, has been delivered to site on schedule on 22 May and offloading was completed on 24 May. Erection of the plant is currently underway. The cone crusher has been delivered to APT in Johannesburg and arrangements are being finalised to transport to RHA.  

Earthworks and Civils work

The earthworks and civil works program was successfully fast tracked to ensure that the site was ready for offloading of the plant. Only minor elements of the program remain, including apron slabs and limited masonry work.

Infrastructure

Infrastructure development (power and water supply and reticulation) is underway with 90% of the piping and site buildings completed. The generators are expected at RHA by the end of May 2015.  

Mining

Development of the open pit mining area remains on schedule, with waste stripping underway and run of mine ore being stockpiled.

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

 

END

 

 

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