Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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For immediate release
15 July 2020
Premier African Minerals Limited
Corporate Update
The Board of Premier African Minerals Limited ("Premier" or the "Company") is pleased to provide updates on Premier's projects in Zimbabwe and in respect of the 19% interest in MN Holdings Limited, the owner and operator of the Otjozondu Manganese Mining Project in Namibia "Otjozondu".
Commenting on this announcement, George Roach CEO noted that, "I am pleased with developments at RHA Tungsten (Pvt) Ltd ("RHA") as set out below, and it is worth noting that a plan to operate the mine on underground ore at 6,000 ton per month does not require the X-Ray Transmission ore sorter ("XRT") and we are actively looking for a suitable alternative use for the XRT in Zimbabwe. Also important is the view of our offtake partner that the recent softening tungsten prices has resulted in mine closures and delays elsewhere in the world and our offtake partner views this as an opportunity for RHA that they are prepared to support as they believe that shortages of tungsten may occur into 2021.
In regard to Otjozondu, whilst export tonnages are limited by the shortage of containers, we are pleased that Otjozondu has reported to us (as described further below) that it has a positive operating margin, that there has been an increase in production at the mine and the confirmation from MNH that it has been provided with pre-payment finance for operational purposes. A resolution of mine-gate to port logistical issues would facilitate an increase in export volume
hang on a min wasn't that XRT a must have a couple of years ago? Shambles.
Vaguely positive though overall I guess...
https://www.londonstockexchange.com/news-article/tidm/headline/14615432
And again
TOTALLY UNINVESTABLE...
Roach runs this Company, for his own gain, nothing more
Suckers like you just keep feeding him.... and boy he is large, so you have fed him loads
Rha going to be back in production with off take of $1.5 m and mnh profitable .
More waffle and gob****e from our leader.
More vague nonsense about MNH as well...."The operating and trading data in respect of Otjozondu referred to in this section has been provided by Otjozondu management and has not been independently verified by Premier." well maybe you should verify it instead of continuing to give them more money in exchange for feck all. Total shambles of a company as usual. Just give us the bloody EPO so we can all run for the hills...
Random ,
Epo is coming , but we have a profitable mnh and rha going back into production
The off take deal for rha is $1.7 m , that is a lot
Another update from Knotty Ash,same old,same old WE'VE ALL BEEN HAD BY THIS ROBBING HUNT.
EPO application is achievable in the near future loooool
What near future for the roach?? This is hilarious.
Well if it's profitable we don't need to worry about funding do we? Given we've stumped up over a million and change, which would find us for a while even, we can rely on the dividends from a good investment by GR for a change.....or have I got that wrong?
Mnh profitable , but ramp up limited by container shortages at ports , that will be remedied by aiming to go to bulk is my understanding . The profit margin looks great and better than Tsipi in South Africa .
Revenue from MNH would be enough to keep prem going if it didnt do anything with Zulu after epo is granted.
Prem directors have agreed to defer salaries and to be paid in shares. This does not reflect the lifestyle company I previously thought about prem.
Positive update..
RHA opening up..
MNH profirbale ...
Should be a decent lift today.
What do you think Molly/Acker?
PROFITABLE
Graham--is it not a little early to be having a smoke.
Jonjo--I would wager a bet that MNH does not pay Prem any dividends this financial year.
How does one remove tea from ones laptop keyboard?
Another very disappointing RNS. I had really hoped Neil Herbert would have taken a bit more control and stopped GR from issuing such tosh to the market.
GR has NO interest in delivering shareholder value, In fact, his only interest is self interest.
Don’t be fooled any more by the odd positive word he delivers in an RNS. he has structured the company to suit his own needs and he will ask for more money for his own personal gain.
GR is incompetent at best......At worst?......
Walk away and invest in ethical companies,
It’s time to hop the emotional attachment hurdle most have with this share and see who he gets to line his pockets then...
Disappointed but not in the slightest surprised...
What is not said in rns is the plan to move to bulk at mnh will massively ramp up production , later in the year . Prem are looking to get mnh way beyond 10,000 tonnes per month in late 2020;, with more next year
Champagne perhaps..
Did you listen to me on ARCM Cackers?
The first sensible question asked on this bb for a long long time