Premier African Minerals Ltd - Africa-focused metals and mineral project developer - Expects to complete work at the Zulu Lithium and Tantalum Project by late January or early February next year. It is targeting revenue generating production by February, following the installation of the 55 tonnes per hour ball mill, as well as other associated structures.
Chief Executive Officer George Roach says: ‘With these upgrades at Zulu, we expect to rectify the most significant of the deficiencies in the original plant design and be able to mill sufficient material to the correct particle size to meet the design capacity for the float plant of 37.5 tonne per hour of dry solids.’
‘It is important to note that in repeated test work Zulu demonstrates that production of spodumene to grade and within specifications is attainable and the board believes that our anticipated SC6 production is now within our grasp...Also important is the fact that our Offtake and Prepayment Partner remains extremely supportive and this is evidenced by the fact that they have not called for payment related to the delayed delivery.’
Current stock price: 0.29 pence, up 20% in London on Thursday
12-month change: down 48%
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