Business
Disposal of Premier's 52% Interest in TCT IF
Disposal of Premier's 52% Interest in TCT IF.
About this update from Premier African Minerals Ltd.
[{"type":"text","content":"\n \nRNS Number : 2219R Premier African Minerals Limited 20 September 2017 \n\nFor immediate release\n20 September 2017\nPremier African Minerals Limited \n (\"Premier\" or the \"Company\")\nDisposal of Premier's 52% Interest in TCT IF \n \nSummary\nPremier African Minerals Limited, the AIM-traded, multi-commodity mining and natural resource development company focused on Southern and Western Africa, announces that it has today entered into an agreement with Amire Glory Limited (\"Amire Glory\" or the \"Buyer\") for the sale of Premier's 52% interest in Mozambique-based TCT Industrias Florestais Limitada (\"TCT IF\"), which principally owns a limestone deposit and forestry interests in Mozambique (\"Disposal\"). Premier will retain a 50% interest in the limestone deposit following completion of the Disposal.\n \nBackground to the Disposal\nThe Board announced last month that it was reviewing possible partnerships and / or a sale of Premier's TCT IF forestry interests whilst ensuring that Premier maintained an interest in the limestone deposit. Over the course of this year Premier has become increasingly focused on the exploration and development of its Zulu lithium asset and bringing RHA into sustainable ongoing production. In addition, Premier has increased its strategic interest in Circum Minerals through a series of share acquisitions. \n \nThe limestone asset of TCT IF remains of continuing potential interest to Premier, but the deposit is still at the very initial stages of exploration. At the time of initial acquisition there had been some early test-work on surface material of the limestone, which indicated that there were potentially acceptable grades of calcium carbonate (CaCO3) for limeston...