Business
Zulu Lithium Project Update
Zulu Lithium Project Update.
About this update from Premier African Minerals Ltd.
[{"type":"text","content":"\n\n25 May 2023\nPremier African Minerals Limited\n \nZulu Lithium Project Update\n \nPremier African Minerals Limited (\"Premier\" or the \"Company\"), is pleased to provide a further update on progress at Zulu Lithium and Tantalum Project (\"Zulu\").\nHighlights\n\n\n\n\n· \n\n\nPlant provider has recommended staged approach to optimisation.\n\n\n\n\n· \n\n\nFirst Spodumene (SC6) shipments now scheduled for June 2023.\n\n\n\n\n· \n\n\nFinal optimisation now expected in Quarter 4 of 2023 following plant modifications.\n\n\n\n\n· \n\n\nProduction from Spodumene float circuit expected to increase by 25% after final optimisation.\n\n\n\n\n· \n\n\nMining operations continue to confirm resource model.\n\n\n\n\nGeorge Roach, CEO commented, \"The process plant is fully commissioned and capable of producing concentrate. The Plant Supplier has advised that the milling and sizing component of the plant requires certain limited modifications to allow for full optimisation to design capacity throughput. The Plant Supplier has provided details and timelines for this remedial action and pending completion of this work, has advised that expected production of concentrate to 30 June 2023 will be 1,376 tons and production for July and August will be 1,137 tons per month, increasing to 2,359 tons in September, 3,577 tons in October 2023 and 4,471 tons from 1 December 2023.\nAt present concentrate prices and production at these current levels to the end of August, the Company expects Zulu to operate profitably.\nThe modifications include the upgrade of screening, relocation of the mill and addition of cyclones to remove correctly sized material to the floatation plant. Premier understands that the costs associated with this remedial action will be met by the plant supplier, and we will work with them to ensure that the plant achieves nameplate throughput expeditiously.\nAs announced on 29 March 2023, Premier's requirements to supply spodumene to Canmax Technologies Co., Ltd. (\"Canmax\") are to ship first product by 30 May 2023 (which will not now be met), failing which CanMax may elect to cancel the Marketing and Pre-Payment Agreement and require that the prepayment plus interest is settled within 90 days following notice. Canmax has always been s...