Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Zulu lithium mine has the potential to emerge as one of the more substantial hard rock lithium-rich mine in Zimbabwe, Premier African Minerals Chief Executive Officer Mr George Roach has said.
Premier has made progress on drilling at its Zulu Lithium project presently under development in Matabeleland South province with presently waiting for assay results.
According to Roach following observations from preliminary drilling at its Zulu lithium project it expects to substantially add to the existing resource estimate.
“Whilst we wait for assay results and modelling, it is most encouraging to note the pegmatite intersections encountered in a zone not previously included in any of our exploration target assessments or in the existing resource estimate. Together with preliminary results from exploration activities in the wider Exclusive Prospecting Area, this continues to support my view that Zulu is likely to emerge as one of the more substantial hard rock lithium-rich regions in Zimbabwe, a country already hosting significant LCT pegmatites, and a deposit with world-class potential.” Roach said.
Roach said that the company was assessing investors who want to invest in the Zulu lithium project in order to improve the mine’s funding for the growth and development of the lithium sector in Zimbabwe.
“As announced on 5 November 2021, I indicated that Premier was in discussion with interested parties regarding investment into Zulu. I can confirm that due diligence visits are underway, and indications are that Premier is dealing with strong and growing interest as we progress Zulu.” Said Roach.
The Minister of Mines and Mining Development Hon Winston Chitando is optimistic that the Zulu lithium mine will be one of the significant lithium players to contribute to the US$12 Billion mining roadmap where the mining sector is expected to fetch an annual revenue of US$12 billion by 2023 with lithium contributing half a billion.
Redtrade, link doesn't appear to work.
https://miningzimbabwe.com/zulu-to-be-the-biggest-lithium-mine/
Snowking - agreed so much moaning , I believe everyone who is moaning expects news every single day and instantly but when money is invested then patience wears thin and some will be holding shares from EPO high and possibly 2015 high of 3p because the simple fact is this stock is a 10 bag+ from here and it doesn’t take a genius to figure that out! Patience is the key, things are lining up nicely and the future is looking good. The news taking us up to the DFS will be very interesting, I can see some big changes and huge progression that’s why I don’t worry about the day to day price as in 12-18 months time this price will be a bargain and the asset will be HUGE! Do your own research, check the latest news, interviews, upcoming news (drill results, JV, increased resource, interim DFS) but most importantly don’t risk what you can’t afford to lose! GLA
welshy , i think they think there are too many moaners on here
Hope fully this will add to the list of successes!
I’m sure you agree This BB shows there are many long term disgruntled holders , some newbies who got stung in the EPO (poor f@k@rs) and others like myself who have only played with this for a couple of years .
You post Often , that inevitably means you get the sh@t from many.
Surely your colleagues in the Pandora group could chip in slightly more often with their thoughts.
The more that join into the discussions the more balanced it would become (even now and again)
Just my opinion ....
welshy , fun in London , but over the last 30 yrs plus i have been in several shares which were a roller coaster only for me to see massive rises. Imagination technology and BTG for just two .
Vetta
You as a long term investor with such a sizeable holding know only too well the rollercoaster ride that Prem is .
Occasionally, Just occasionally one wakes in early in the morning in the middle of a sweet dream. One such day could be real. Well, I hope so, for you and for me. I shall keep an eye of the price of PREM till your dream turns into a reality. So, you have, at least, one faithful follower.
its great and one day i wake up and we are up 1000% , just like one day in March and it will happen again , just watch
Snowking.....must be fun living in the GR fantasy world !
It is pretty simple
Plan A is for an offtake deal , that means giving nothing away of % of Zulu to build the mine
Plan B woudl be to give say 20-50% away to build the mine.
THere are few mines left in the world for anyone to invest in and so Prem will have loads of companies chasing it . The rush has started just listen to the interviews and pick up the phone and ask George how much interest have you had in the last two weeks .
Acker must have as he has bought back in.
You can wait for the following if you want certainty
1. good assay results
2. JV deal for 10% of Prem to complete DFS
3. Resource increase 20mt to 40mt
4, No placing
45 Discussions to have an off take agreement with no more zulu given away , retaining may be 80%
I think 1, 2 , 3 and 4 will occur before xmas and 5 in Q1/Q2 2022
So lets see where we are by xmas
Thanks Bick, realistically then GR will never get a JV to build a mine for just 20% of Zulu... it will be interesting hear what snowking thinks.
Wolf, there wont be any significant savings on development of an above ground mine. Remember quality of manufacture/installation is sacrosanct and there isn't much difference in construction materials across geographical locations. There will be savings on operations but these will be on labour only. Generally the capital development costs do not vary significantly from one country to another.
Sirius is slightly different because of the extent of tunnelling and the mitigation measures required for proximity of the national park etc.
Bickmaster
Bick, the cost of building a mine in the developed world can go into crazy figures... remember Sirius, don't you think it will be considerably cheaper in Zimbabwe.
Early reports omicron is mild. GR might get lucky after all
Pilbara spent approx $300m AUD on their stage 1 plant. Which equates to approx £160m. Though it was in 2018 so with inflation and price escalation in construction materials (steel has doubles for example) etc. that would be closer to £200m nowadays. The thoughts of GR even going anywhere near a project of this scale isn't worth thinking about.
Although we may be lucky and Snowking might confirm more than 50% of the mine has already been built because GR has done some early design work on flowsheets etc. That would save approx £100m.
Bickmaster
All I ask for Christmas is this to spike do that I can sell the rest of my shares without incurring a substantial loss. I have total faith in GR to totally f*** this up.
Cherryburn, the figure that's been banded around is 70 to 100mil for the cost of building the mine... anyone paying for that would insist on at least 51% and for George to take a long vacation... there is good road and rail infrastructure with power close by that will need upgrading, Zulu is after all only 10 kilometer from Bulawayo.
I don't think GR will do a deal until the DFS is completed... then it will be sold.
Wolf
Correct, Redandy, I reckon George's use of the word imminent could be used here. So, using that as a guide 'a lot' probably means around 10%. George is a slippery little monkey and never gives clear and concise information, I can't even begin to think how the JV negotiations might be proceeding! FACTS are what is needed and we (shareholders) get precious little.
Snowking you saying by what George has said that you interpret more than 50% has been done highlights the problem .
Nothing is ever clear and concise from George so most of the time we are guessing or surmising what could be happening .
Communication is dreadful and will continue to be with George at the helm .
Bick it is around 6 mns into interview
Bick,
George said a lot of the drilling has been done already . So I interpret that as more than 50% done .
Snowking,
In response to your post at 20:29 below, at no point in the Stockbox interview does GR say the majority of the drilling is done. So you cannot say over 50% of the DFS work is complete.
I am not a fan of your posts which are not true, indeed they are misleading. It may be time to bring back Napom as the spokesman for your group.
Bickmaster
Welshy , you must have misheard , the plan is to build the mine but keep as much as possible
Not a coo tomorow , but Pr lady
Acker May be I am naive