Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining
16 September 2014
Premier African Minerals Limited ("Premier" or "the Company")
Corporate and Environmental Impact Assessment Update
Third Tranche of USD$1million received from Circum
Premier African Minerals Limited, the AIM traded, multi-commodity natural resource company with mineral projects located in Western and Southern Africa, today announces that it has received the third tranche of USD$1 million from Circum Minerals Ltd.
Premier expects to receive a further USD$1 million on both the 15 November 2014 and 15 January 2015.
Environmental and Social Impact Assessment Prospectus receives approval from Environmental Management Agency of Zimbabwe ("EMA")
Premier has engaged BUMIRA Environmental Consultancy ("BUMIRA"), a leading environmental consulting company in Zimbabwe, to provide an environmental and social impact assessment report ("ESIA") for RHA Tungsten (Pvt) Ltd ("RHA") in which Premier is the operator and holds a 49 percent interest. This ESIA prospectus, which was submitted to EMA on 26 August 2014, details the key assessment areas and required approach for the successful completion of the ESIA. This approval received on 11 September 2014 from EMA is an important step to the environmental licencing of RHA that will be required before production commences. This approval confirms that the mine is environmentally acceptable and final licencing is conditional, inter alia on approval of our social and environmental management plans that we anticipate submitting within the coming months.
George Roach, CEO, commented, "It's another step on the pathway to production. Premier remains single-mindedly focused on meeting every requirement to get RHA into production, on time and on budget."
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.
For further information please visit www.premierafricanminerals.com or contact the following:
Pamela Hueston |
Premier African Minerals Limited |
Tel: +44 (0) 755 778 3855 |
Michael Cornish / Roland Cornish |
Beaumont Cornish Limited (Nominated Adviser) |
Tel: +44 (0) 207 628 3396 |
Jerry Keen/ Edward Mansfield |
Shore Capital Stockbrokers Limited |
Tel: +44 (0) 207 408 4090 |
Tim Blythe/ Halimah Hussain |
Blytheweigh |
Tel: +44 (0) 207 138 3204 |
Notes
Premier African Minerals Limited (AIM: PREM) is a multi-commodity exploration and development company focused in Southern and West Africa. The Company has a diverse portfolio of multi-commodity projects which includes tungsten, rare earth elements, gold, lithium, tantalum, graphite and uranium in Zimbabwe and Togo, which span from brownfield projects with near-term production potential to grass-roots exploration. The Company holds 2m shares in Circum Minerals Ltd, the owners of the Danakil Potash Project formerly held in part by AgriMinco Corp. At inception, those shares had a nominal value of USD$1.4m. Circum is fully funded to completion of feasibility study.
