Premier African Minerals Limited Update on the Acquisition of Mining Assets (4084W)
17 Abril 2019 - 1:00AM
UK Regulatory
TIDMPREM
RNS Number : 4084W
Premier African Minerals Limited
17 April 2019
Premier African Minerals Limited / Ticker: PREM / Index: AIM /
Sector: Mining
For immediate release
17 April 2019
Premier African Minerals Limited
Update on the Acquisition of Gold and Mining Equipment
Assets
Premier African Minerals Limited ("Premier" or the "Company")
announces that following the announcement on 14 February 2019,
which outlined the proposed conditional acquisitions of 50% of KME
Plant (Proprietary) Limited ("KME Plant Hire") and 50% of the
equity in Honey Badger Resources Limited ("HBR"), Premier will now
not proceed with either transaction until there is some finality on
the future of RHA Tungsten (Private) Limited ("RHA"). Accordingly,
the proposed transactions with KME Plant Hire and HBR have been
terminated today.
Premier notes that pursuant to our announcement on 13 March
2019, the final agreements are with the office of the Ministry of
Industry, Commerce and Enterprise Development ("Ministry") and
Premier now awaits final sign-off.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014. The person who arranged the
release of this announcement on behalf of the Company was George
Roach.
Enquiries:
Premier African Minerals Tel: +44 (0)7734
Fuad Sillem Limited 922074
Michael Cornish / Beaumont Cornish Limited Tel: +44 (0) 20 7628
Roland Cornish (Nominated Adviser) 3396
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Jerry Keen/Edward Shore Capital Stockbrokers Tel: +44 (0) 20 7408
Mansfield Limited 4090
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Notes to Editors:
Premier African Minerals Limited (AIM: PREM) is a
multi-commodity mining and natural resource development company
focused on Southern Africa with its RHA Tungsten and Zulu Lithium
projects in Zimbabwe.
The Company has a diverse portfolio of projects, which include
tungsten, rare earth elements, lithium and tantalum in Zimbabwe,
encompassing brownfield projects with near-term production
potential to grass-roots exploration. In addition, the Company
holds 5,010,333 shares in Circum Minerals Limited ("Circum"), the
owners of the Danakil Potash Project in Ethiopia, which has the
potential to be a world class asset.
Forward Looking Statements:
Certain statements in this announcement are, or may be deemed to
be forward looking statements. Forward looking statements are
identi ed 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 re ect
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.
ENDS
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END
UPDCKADPABKDNQD
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