Construction on schedule at RHA Tungsten Project

RNS Number : 3041J

Premier African Minerals Limited

02 April 2015

 

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

For immediate release

 2 April 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 natural resource company with mineral projects located in 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

·     Plant fabrication remains on schedule for shipment from Johannesburg to RHA in May 2015;

·     Earthworks ahead of schedule; and

·     Waste stripping commenced at open pit mining area.

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:

"Construction remains on time and on budget. It is most pleasing being able to report that the first bench of the open pit is being cut and stripping has commenced. We look forward to updating shareholders in due course."

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	Yellow Jersey PR	Tel: [phone]

Further information

Process Plant

The fabrication of the process plant is on schedule for transport from Appropriate Process Technologies ("APT") in Johannesburg in May 2015.  The Jig has been tested and delivered to APT.

Earthworks and Civils work

Earthworks are ahead of schedule at 21% actual completion versus 8% planned completion. The RHA Open-pit mining pad has been completed and first civil works have started.

Infrastructure

Infrastructure development (power and water supply and reticulation) is underway with all trenching for water supply lines completed.

Mining

Development of the open pit mining area is on schedule, with the first waste stripping started.

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

 

 

MSCKMGGDRZGGKZG