Premier African Minerals – With Its Finals Due Next Week Company Issues News on Its Undervalued Zulu Lithium Project

Ahead of announcing its Annual Results on Friday of next week, 28th June, Premier African Minerals (LON:PREM), the multi-commodity mining and natural resource development company focused on Southern Africa with its RHA Tungsten and Zulu Lithium projects in Zimbabwe, has this morning issued an Update on its Zulu Project.

The conditioning tank delivery and commissioning remains on track for completion during the week commencing 10th July, while the sale of concentrates on hand is now expected to proceed on an ex-mine gate basis.

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CEO George Roach stated that:

“Premier sincerely hope the conditioning tank will be the last plant modification and on that note, the Board remains confident regarding the prospects for Zulu and we note that at this time the development of Zulu, a complete mine, has cost the Company the better part of US$75 million, and neither this nor the deemed valuation of Zulu agreed with our take-off partner is reflected in our current market capitalisation.”

PREM has a diverse portfolio of projects, which include tungsten, rare earth elements, lithium and tantalum in Zimbabwe and lithium and gold in Mozambique, encompassing brownfield projects with near-term production potential to grass-roots exploration.

The £33m capitalised group’s shares were up 7.3% at 0.1100p on the news.

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