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Premier African Minerals Ltd - Africa-focused minerals and metals project developer - Notes continued adequate quality of assays from ongoing work at Zulu lithium & tantalum project in Zimbabwe.
‘I am pleased to note continuity in the quality of assays from ongoing work at Zulu,’ says Chief Executive Officer George Roach. ‘The large number of outstanding results remains as much a concern as an opportunity,’ he adds.
Finds up to 2.09% of lithium oxide and 198 parts per million of tantalum pentoxide, it says.
‘Work progresses well in relation to the pilot plant installation and we remain on target for hot commissioning in the first quarter of 2023. At the same time, recent forecasts suggesting extended shortages of Spodumene and prices projected at current levels through to 2025, are both encouraging and supportive of the approach we have taken to target production early in 2023. Of particular interest is that our ongoing resource development is strongly supportive of the use of sensor-based ore sorting and we remain confident that this is likely to see wider utilisation of the available resource, particularly lower grade sections and potentially an overall lower production cost,’ CEO Roach says.
Current stock price: 0.34 pence, up 2.3% on Friday
12-month change: up 77%
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