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Premier African Minerals completes new conceptual mine plan
StockMarketWire.com
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StockMarketWire.com Premier Africa Minerals has completed a new conceptual mine plan for RHA, in conjunction with technical assistance from independent South African mine planning consultants, Bara Consulting, geological consultants Shango Solutions, and metallurgy and process engineer Multotec Process Equipment.
The objective of the new Conceptual Mine Plan is to assess the potential impact of returning RHA to production. It also assesses whether RHA can generate a return on Premier's investment to date in surface infrastructure, plant and equipment at RHA at minimal additional capital costs, based on the existing vertical access shaft..
The Conceptual Mine Plan assesses an underground production rate of 6,000 tons per month with a projected life of mine of 10 years and indicates a peak funding requirement of US$2.5 million and a payback within 16 months.
As Premier has not committed to further funding to RHA, the new funding would need to be provided by a third party - either the National Indigenisation, and Economic Empowerment Fund or another party.
The drilling programme has commenced at Zulu and, despite delays caused by increasing Covid-19 infections in Zimbabwe and government action in controlling the spread of the virus, the company remains on track with its plans to prepare Zulu's Definitive Feasibility Study in line with previously reported timelines.
At 9:59am: (LON:PREM) Premier African Minerals share price was 0p at 0.04p
Story provided by StockMarketWire.com
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