Premier raises £1.25m for use at its Zulu lithium, tantalum project

21st May 2024

By: Creamer Media Reporter


Font size: - +

London-listed Premier African Minerals is raising about £1.25-million through the issue of about 781.25-million shares at 0.16p each.

It will use the funds raised for the ongoing mining operations at its Zulu lithium and tantalum project, in Zimbabwe, as well as for working capital purposes.

"We are encouraged with mining operations and the run-of-mine ore grades that consistently exceed our resource estimate and this is mitigating, for the moment, the ore sorter deficiencies.

"This also supports a review of overall operations and production costs and the likely reduced production costs," CEO George Roach comments.

Premier in March replaced the original contractor at the Zulu plant and says that, while the flotation circuit is now capable of running in a constant and stable state, it will take time to fully remedy the original design deficiencies in the overall plant and move from what, in many instances, are interim fixes to the final operating plant.

Extensive ore sorting testwork will soon start and replacement ore sorters will be considered thereafter. "It remains our preferred outcome that the original supplier resolves this," the company states.

Further, the company has installed a header box and gravity feed arrangement for hydrosizers at plant.

"While there will still be some optimisation required, the initial operation suggests that the plant will run on a single hydrosizer, and this arrangement has resulted in better optimisation of the mill. The unexpected upside of this is that the overall plant capacity in respect of the crushers, milling and sizing circuit is likely to allow for a substantial increase in throughput at a lower cost than would otherwise have been the case with an additional mill," the company points out.

In addition, dense media separation-based testwork on the undersized ore fraction being stockpiled has been completed and laboratory results are awaited to determine spodumene and tantalum recoverability.

At the same time, the original-equipment manufacturer for the installed magnetic separation is assisting and working closely with Zulu.

"We have a long way to go but we remain encouraged by the fact that we are producing spodumene that is saleable. The design for the additional conditioning circuit required is complete and most components are either on site or on order.

Premier expects to take delivery of the circuit at end-June.

"Provided this timeline is met, installation and integration are expected to take a further 14 days. Normal operations are not expected to be impacted.

"This is expected to be the final component to allow recoveries at design capacity," the company states.






Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online




FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa


Latest Multimedia

sponsored by

Magazine image
Magazine round up | 12 July 2024
12th July 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?







sq:0.333 0.388s - 194pq - 2rq
Subscribe Now