RHA Project Update

RNS Number : 0157V

Premier African Minerals Limited

04 August 2015

 

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

For immediate release

4 August 2015

Premier African Minerals Limited

("Premier" or the "Company")

RHA Project Update

Premier African Minerals Limited, the AIM-traded, multi-commodity mining and resource development company focused on Southern and Western Africa, is pleased to issue an interim update on progress and developments at its flagship project the RHA Tungsten mine ("RHA"), in respect of which the Company is the operator and holds a 49% interest.

·    Plant modifications discussed in the Company's press release of 8 July 2015 arrived at the mine on 1 August 2015 and a team of engineers has commenced installation. This is expected to be completed on 10 August 2015.

·     First concentrates have left the mine and are on route to Durban, South Africa.

George Roach, CEO commented that: "With the arrival on site of these plant modifications, we anticipate that we will progress rapidly to steady state production. At the same time, higher grade ore is now arriving at the plant as we continue to expose more of the defined resource in the developing open pit. Whilst I had expected the plant to settle to steady state quicker than has been the case, the fact that the plant has demonstrated the ability to recover wolframite in concentrates of up to 70% WO₃ augers well for the future of RHA.

"The initial shipment of concentrates will test the packing, inspection and assay procedures as well as verifying the export, inland transport and payment methods. It remains our intention to update the market and provide details of anticipated revenues thereafter and when steady state production is attained."

Please visit our website at www.premierafricanminerals.com.

Qualified Person

Werner Swanepoel, Chief Operating Officer of Premier, has reviewed and approved all technical matters relating to the plant commissioning in 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.

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]

Notes

Premier African Minerals Limited (AIM: PREM) is a multi-commodity mining and resource development company focused in Southern and Western Africa with production started 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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