Business
Board changes, Notice of AGM and Corporate Update
Board changes, Notice of AGM and Corporate Update.
About this update from Premier African Minerals Ltd.
[{"type":"text","content":"\n \nRNS Number : 3104V Premier African Minerals Limited 20 July 2018 \n\nPremier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining\nFor immediate release\n \n \n 20 July 2018\n \nPremier African Minerals Limited\nBoard changes, Notice of AGM and Corporate Update \n \nPremier African Minerals Limited (AIM: PREM), the London-quoted mining and exploration company is pleased to announce the appointment of Michael Foster as interim Chairman and notice of the Annual General Meeting (\"AGM\").\nBoard changes - Appointment of Chairman \nPremier is pleased to announce that Mr Michael Foster, a Senior Non-Executive Director on the Board of Premier has been appointed as Non-Executive Chairman of the Company with effect from 20 July 2018. Michael Foster will replace George Roach who remains as CEO of Premier. \nGeorge Roach, CEO commented: \"The separation of Chairman and CEO roles is long overdue and is expected to enhance board oversight and direction. Michael has a wealth of experience in management and development of resource companies and I am appreciative that he has agreed to work with me over the next 6 months that are critical to realising the vast potential that Premier offers.\"\nMichael Foster said: \"I am delighted to have been appointed as Chairman of Premier. My focus will be on strategic governance, improving all aspects of board oversight and assisting management meet targets and advance the Zulu Lithium Project as well the RHA tungsten mine in Zimbabwe. \nGeorge Roach has assembled an excellent portfolio of assets over the years and I believe that with the right approach and partners significant value can be unlocked in the immediate future.\"\nRHA Tungsten Project \nIn expectation of sign-off of the proposed RHA Tungsten Project (\"RHA\") equity restructuring by the Zimbabwean Government, the Company has had RHA's management undertake an in-depth assessment of alternatives to reopen RHA, and three options have been proposed to the Board. \nThe first three original options are based on a limited drilling programme (\"Drill Programme\") being completed. The Drill Programme is broken down into two parts, the first part will include fifteen 50-meter boreholes to establish at what depth below the current pit floor, previously predicted ore grades are likely to materiali...