Director Resignation and Appointment of Consultant

RNS Number : 3228F

Premier African Minerals Limited

27 July 2016

 

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

For immediate release

27 July 2016

Premier African Minerals Limited

("Premier" or the "Company")

Director Resignation and Appointment of Consultant

Summary

Premier African Minerals Limited, the AIM-traded, multi-commodity mining and natural resource development company focused in Southern and Western Africa announces that Ms. Pamela Hueston has resigned as a director of the Company and simultaneously Mr. Russel Swarts has been appointed as a consultant to the Company. The Board extends its thanks and appreciation to Ms. Hueston for her dedication and stewardship over the years and wishes her well with her future endeavours. At the same time, the Company welcomes the appointment of Mr. Swarts as consultant to the Company. 

Mr. Swarts will provide oversight of the financial management.  Russel qualified as a Chartered Accountant (South Africa) in 1989, after serving articles with Price Waterhouse in Johannesburg. After leaving the profession in 1991, Russel took up senior financial roles within a number of JSE listed South African companies. Subsequently, Russel was appointed as CEO of the largest specialist telecommunications group in South Africa before taking on a director role at a private equity investment group involved in energy and natural resources.  Russel spent five years as CFO of AIM-traded URU Metals Ltd before consulting in his areas of expertise.

Russel has extensive experience in Southern African and international listed entity reporting, rules and regulations, corporate governance, mergers and acquisitions, specialist financing, strategic planning and group reporting planning and structuring.  Russel has been involved in auditing, group reporting, budgeting and forecasting, systems implementations and restructuring.

George Roach, CEO and Chairman commented: "I'm delighted to welcome Mr. Swarts to the Company. Mr. Swarts brings a wealth of experience which we can draw on as the Company enters into a new phase of development. His appointment will facilitate the consolidation of our accounting function in Southern Africa and in turn generate significant operating efficiencies. While I am pleased to welcome Mr. Swarts, I am sad to see Ms. Hueston who has been with the Company since inception leaving. I would like to thank her on behalf of the team for her dedication and stewardship over the years and wish her well for the future."

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

Enquiries

Fuad Sillem	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]
Charles Goodwin/Aidan Stanley /Dominic Barretto	Yellow Jersey PR Limited	Tel: [phone]

Notes

Premier African Minerals Limited (AIM: PREM) is a multi-commodity mining and natural 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 Benin, 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$4 million based on the latest price at which Circum has accepted subscriptions.

ENDS

 

END

 

 

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