RE: Perfect example13 Mar 2019 13:09
Premier African Minerals Limited ("Premier" or the "Company") is pleased to report that the Company received a letter on the afternoon of 12 March from the Zimbabwe Ministry of Industry, Commerce and Enterprise Development ("Ministry") which states that the Ministry has secured a proposed investment of US$6 million investment into RHA Tungsten (Private) Limited ("RHA") for the immediate recommissioning of mining operations, subject to completion of the appropriate agreements.
The letter also states that Zimdiv Holdings Limited, which is a wholly-owned subsidiary of Premier and which manages the RHA Mine, will be awarded another management agreement on similar terms to the current management agreement which was entered into on 23 September 2013. The Company will provide further updates once the agreements have been signed.