Newly Aim-listed explorer focusing on Zimbabwe tungsten, rare earths
The initial focus of aspirant multi-commodity natural resource asset developer Premier African Minerals, which recently raised £1.5-million on admission to London’s Alternative Investment Market (Aim), is tungsten and rare-earth- elements exploration work in Zimbabwe.
The £6.7-million-market- cap company, which also has mineral projects in West Africa, intends operating as an explorer with a difference.
“We will not operate as a traditional junior exploration company,” says Premier African Minerals CEO George Roach, a former UraMin luminary.
Since 2007, the company has been establishing a diversified portfolio of in-demand com-modities that have potential to be fast-tracked into mines.
Premier African Minerals says that it will use the funds raised from the placing of 75-million shares at 2p a share to assist in the funding of project development activities, with the initial focus being on continuing exploration work at the former operating RHA tungsten mine and the Katet rare-earth-elements project, both in Zimbabwe.
Former Falconbridge geologist Bruce Cumming is technical director and Pamela Hueston is finance director.
The company is intent on acquiring RHA-like assets that have the benefits of histor- ical exploration, reduced geological risk and the potential for rapid advancement.
Shore Capital Stockbrokers Limited is broker to the company and Cairn Financial Advisers its nominated adviser.
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