Last checked at 19 Aug 2019 13:30
Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining
For immediate release
19 August 2019
Premier African Minerals Limited
RHA Electrification
Premier African Minerals Limited ("Premier" or the "Company") is pleased to confirm that the electrification of RHA Tungsten Pvt Ltd ("RHA"), in which Premier has a 49% interest and is the operator, is expected to be concluded by the end of November 2019, based on correspondence now received from the Zimbabwe Electricity Supply Authority ("ZESA").
The investment received from the National Indigenisation and Economic Empowerment Fund ("NIEEF"), as reported on 27 June 2019, has provided RHA with the funding to commence with the electrification of RHA.
George Roach, CEO commented: "We are pleased that ZESA has now set out that the complete infrastructure that is needed at the mine site will be completed towards the end of November 2019. With this now known, work for bringing the underground operations back on stream can commence."
ZESA Scope of Works
The works will be divided into two phases, which will be commissioned concurrently in an attempt to reduce the completion time:
·; Phase 1, includes the supply of materials, installation (including associated civil works) and commissioning of 1.5MVA 33/0.4kV 5/S, this includes a 400V changeover panel and LV power cabling to existing 400V feeder panel; and
·; Phase 2 includes the supply of materials, installation (including associated civil works) and commissioning of proposed 400m 33kV overhead line T-off and 500kVA 33/0.4kV pad mounted soft start up to high voltage of the transformer.
The ZESA Scope of Works has been quoted and is to be settled in Zimbabwean local currency ("RTGS Dollars").
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged the release of this announcement on behalf of the Company was George Roach.
Enquiries:
Fuad Sillem | Premier African Minerals Limited | Tel: +44 (0)7734 922074 |
Michael Cornish / Roland Cornish | Beaumont Cornish Limited (Nominated Adviser) | Tel: +44 (0) 20 7628 3396 |
Jerry Keen/Edward Mansfield | Shore Capital Stockbrokers Limited | Tel: +44 (0) 20 7408 4090 |
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, encompassing brownfield projects with near-term production potential to grass-roots exploration. In addition, the Company holds 5,010,333 shares in Circum Minerals Limited ("Circum"), the owners of the Danakil Potash Project in Ethiopia, which has the potential to be a world class asset.
Glossary
| |
"LV" | Low Voltage |
"KV" | Kilovolt |
"KVA" | Kilovolt-Ampere |
"MVA" | Mega Volt Amp |
"V" | Volt |
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'' ''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.
ENDS