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Premier African Minerals

LSE:PREM

AIM-listed, natural resource development company which acquires and develops strategic metals & agri-mineral projects located across Africa

Overview

  • Engaged in the mining of wolframite, lithium and tantalite as well as interests in other rare earth elements, including Circum Minerals’ potash project in Ethiopia and MN Holdings’ manganese mining project in Namibia.

  • Projects in Zimbabwe, Togo, Benin and Mozambique.

  • Zulu Project Located in Zimbabwe, it is one of the largest lithium-tantalum bearing pegmatite in the country.

  • Mineral resources estimated at 526kt of lithium carbonate equivalent and 1,025tof tantalum pentoxide. A scoping study indicated a 15-year mine life and targeted annual production of 84kt of spodumene and 32.5kt of petalite concentrate.

  • Company recently secured funding for the Definitive Feasibility Study from Suzhou TA&A Ultra Clean Technology, a Chinese company listed on the Shenzhen Stock Exchange, via a £12m subscription agreement.

  • To date 18,000 m has been drilled at Zulu, with assay testing and results continuing with the plan to be brought into early production based on a large-scale pilot plant by Q1 2023.

  • RHA Tungsten Mine Premier has invested US$18million to acquire and develop the mine and owns 10 of 50 Mineral claim blocks which covers 1,800 hectares, remaining 40 are under option and .

  • Processing plant capable of processing 40ktpm proposed to produce a high-grade tungsten concentrate for which the company has already agreed an offtake agreement with Nobel Resources.

  • Katete REE Project Comprises 25 Mineral claim blocks, Premier has right to explore in with these blocks, the initial evaluation specifies that the distribution of total rare earth oxide are consistent with depth and several sample showed TREO content of greater than 3%.

  • Tinde Project Located in the northeast corner of the Kamativi Basement Complex Inlier, the mine produces 1360 tonnes of fluorspar. Flotation tests indicate that concentrates of up to 97.8% CaF2 are achievable.

  • Company signed a binding JV Agreement with Li3 Resources Inc.whereby Li3 will acquire a 50% interest in Premier's hard-rock lithium assets located in the Mutare Greenstone Belt in Zimbabwe. Premier acquired these claims in June 2020.

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Share Price

Reserves and Resources

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