REG - Premier African Min. - Zulu Update

Premier African MineralsAnnouncement

20/11/2023 13:30

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RNS Number : 0215U  Premier African Minerals Limited  20 November 2023

20 November 2023

Premier African Minerals Limited

 

Zulu Update

 

Premier African Minerals Limited ("Premier" or the "Company"), provides this
update on operations at Premier's Zulu Lithium and Tantalum Project ("Zulu").

Zulu Update

Further to the announcement on 14 November 2023, Premier confirms that current
plant operations have been partially suspended to allow for civil construction
to commence in preparation for the installation of the 55 tons per hour ball
mill and other associated structures. Those aspects of the plant that will
continue to run include the X-Ray Transmission ("XRT") and Ultraviolet ("UV")
sorters (collectively the "Ore Sorters") that have not been fully commissioned
and optimised at this time.

 

At the same time, the plant will be prepared to recommence production at the
original design capacity and compromises needed for the lower tonnages fed to
date will be removed. All instrumentation will be inspected and repaired as
needed during this temporary shutdown period of the plant.

 

Mining operations will continue, intended to enlarge the pit envelope and
allow for better selective mining and the avoidance of waste rock
contaminating the ore feed to the plant.

 

Tests will be conducted, and a decision will be taken regarding possible
reprocessing of concentrates produced that carry excessive contamination from
country rock and gangue material that should have been eliminated to a far
greater extent than has occurred.

 

Premier continues to see grades of spodumene produced in its onsite laboratory
from Run of Mine ("ROM") ore when the contaminants not associated with
pegmatite material are removed that meet the Offtake and Prepayment Partner
requirements. Optimisation of the Ore Sorters and the pit development both
noted above, should largely eliminate this problem when plant operations are
recommissioned.

 

Premier continues to update its Offtake and Prepayment Partner and sincerely
appreciates the support it continues to receive.

 

Shareholder Q & A

 

George Roach will hold a virtual Questions and Answers session with
shareholders this evening. Please register your interest with the Company at
wilna@regentresources.co.za (mailto:wilna@regentresources.co.za) .

 

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 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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