Business
Update on RHA Tungsten Mine
Update on RHA Tungsten Mine.
About this update from Premier African Minerals Ltd.
[{"type":"text","content":"\n \nRNS Number : 2822U Premier African Minerals Limited 06 April 2016 \n\nPremier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining\n \nPremier African Minerals Limited \n(\"Premier\" or the \"Company\")\nUpdate on RHA Tungsten Mine\n \n \nPremier African Minerals Limited, the AIM-traded, multi-commodity mining and resource development company focused on Southern and Western Africa, is pleased to provide an update on the RHA Tungsten Mine (\"RHA\"), in which the Company is the operator and holds a 49% interest. \nHighlights\n· Re-equipping of the 120 meter vertical shaft nearing completion; \n· First ore from 870 level expected at surface during April 2016;\n· Improving grades from ore processed off 926 level expected to see WO3 concentrate shipments resume shortly;\n· Positive operational cash flow from RHA (before capital expenditure and working capital) expected when first ore from 870 level is processed and crushing circuit upgrades installed; and\n· Upgrades to crushing circuit planned for this month.\n \nGeorge Roach, CEO, commented: \"Re-equipping the 120 meter existing vertical shaft at RHA has taken a little more time than was originally expected but with all equipment now on site and power reticulation installed, this project is nearing completion and ore will arrive at surface during this month. Upgrades to the crushing circuit have been agreed by Premier's consultant and Appropriate Process Technologies (APT), who have been instructed to proceed immediately at their expense. The total cost of the crushing circuit upgrade is expected to be less than US$100,000 and take less than two weeks to install and commission once all components are at site at RHA. I am pleased to report that Premier has dramatically reduced fixed expenditure at RHA and we remain confident that as and when 870 ore is processed at the grades indicated, and through-put and recovery meet design criteria, RHA will operate profitably.\" \n \nThis release should be read in conjunction with Premier's RNS of the 18th January 2016 when underground development was discussed in some detail.\n \nForward Looking Statements\nCertain statements in this announcement, are, or may be ...