PREM RNS18 Mar 2021 11:40
The Definitive Feasibility Study ("DFS") timeline is estimated at 14 months and this is unlikely to change. Subsequent to completion of our Zulu resource estimate, further drilling identified additional prospective zones as announced on 2 February 2018 and supported the mine plan included in the scoping study prepared by Bara Consulting of 1,000,000 tonnes run of mine ore per annum with a projected grade of 1.39% Li in the first year.
Subsequent to the awarding of the EPO for Zulu, Premier has received multiple approaches both proposing direct funding for the Zulu DFS as well as investment linked to product take off and future mine development. Premier is evaluating these and now expects to be able to update our shareholders on the way forward by the end of this month.
In closing, it is worth noting that the Zimbabwean Government's award of the EPO at Zulu and several other EPO applications, is a clear signal that Zimbabwe is truly open for business and is taking steps to achieving their long-term mining goals."