REG - Premier African Min. - Zulu Lithium Update

Premier African MineralsAnnouncement

21/09/2023 08:00

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RNS Number : 1961N  Premier African Minerals Limited  21 September 2023

21 September 2023

Premier African Minerals Limited

 

Zulu Lithium Update

 

Premier African Minerals Limited ("Premier" or the "Company"), is pleased to
report on the progress of the installation and commissioning of the RHA Ball
Mill ("Mill") at Premier's Zulu Lithium and Tantalum Project ("Zulu").

George Roach, CEO, commented, "Subsequent to our update of 23 August 2023, I
am pleased to confirm the completion of the installation of the Mill including
all necessary feeds and discharge components, pumps, control circuitry and
grinding media requirements that is expected to support planned production of
up to 1,000 tons per month of spodumene from November 2023 at Zulu.

The commissioning phase is now planned to commence from today with first
material expected to be fed through the Mill on Monday, 25 September 2023.

Open pit mining operations at Zulu are expected to resume next week and while
there is already substantial material on the run-of-mine pad, it remains
critical that the plant has sufficient ore for current processing.

Further updates will follow in Premier's unaudited interim results for the six
months ended 30 June 2023 which will be published on 29 September 2023."

Video of Mill circuit of Zulu plant:

Market Abuse Regulation

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018.

The person who arranged the release of this announcement on behalf of the
Company was George Roach.

A copy of this announcement is available at the Company's website,
www.premierafricanminerals.com (http://www.premierafricanminerals.com)

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'' "planned" ''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 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 and lithium and gold in
Mozambique, encompassing brownfield projects with near-term production
potential to grass-roots exploration. The Company has accepted a share offer
by Vortex Limited ("Vortex") for the exchange of Premier's entire 4.8%
interest in Circum Minerals Limited ("Circum"), the owners of the Danakil
Potash Project in Ethiopia, for a 13.1% interest in the enlarged share capital
of Vortex. Vortex has an interest of 36.7% in Circum.

 

In addition, the Company holds a 19% interest in MN Holdings Limited, the
operator of the Otjozondu Manganese Mining Project in Namibia.

Enquiries:

 

 George Roach                        Premier African Minerals Limited    Tel: +27 (0) 100 201 281
 Michael Cornish / Roland Cornish    Beaumont Cornish Limited            Tel: +44 (0) 20 7628 3396

                                     (Nominated Adviser)
 Douglas Crippen                     CMC Markets UK Plc                  Tel: +44 (0) 20 3003 8632
 Toby Gibbs/Rachel Goldstein         Shore Capital Stockbrokers Limited  Tel: +44 (0) 20 7408 4090

 
Ends

 

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