Business
Zulu Updated Scoping Study
Zulu Updated Scoping Study.
About this update from Premier African Minerals Ltd.
[{"type":"text","content":"\n \n \n \n RNS Number : 6751I\n Premier African Minerals Limited\n 16 August 2021\n \n \n \n \n For immediate release\n \n \n 16 August 2021\n \n \n \n Premier African Minerals Limited\n \n \n (\"Premier\" or the \"Company\")\n \n \n Zulu Updated Scoping Study\n \n \n \n Premier African Minerals Limited (\"Premier\" or the \"Company\"), is pleased to provide an update on the Zulu Lithium Private Limited (\"Zulu\") Scoping Study as previously published in November 2017 to reflect the current Spodumene selling prices, together with current costings. \n \n \n \n \n \n \n George Roach, CEO commented\n \n , \"With the recently reported surge in Spodumene concentrate selling prices, Premier approached Bara Consulting with a request that the scoping study financial matrix be reviewed taking cognisance of the price changes and any other salient factors that may have changed in the period after publication of the scoping study. \n \n \n \n \n \n The review was limited to the concentrate option only and the results thereof are published below. It should be noted that Premier has already embarked on a definitive feasibility study at Zulu with drilling at Zulu well underway with two rigs operating at present. It is encouraging to note that preliminary work in that regard continues to support the findings set out in the scoping study. Specific examples include an overall reduction in certain specific costs in Zimbabwe, most notably in respect of labour and confirmation of the projected logistics costs on an FOB Beira basis. \n \n \n \n \n \n It is interesting to note the significant increase in Zulu's net present value with improved and projected Spodumene concentrate pricing compared to Premier's present market capitalisation. Further updates will follow as details of intersections and results start to flow.\"\n \n \n \n \n \n Updated Scoping Study\n \n \n The Company published in November 2017 the results of the scoping study completed on its Zulu Lithium and Tantalum Project (\"Zulu\" or \"Zulu Project\") in Zimbabwe (\"Scoping Study\"). The Scoping Study was prepared in compliance with the guidelines of SAMREC by independent South African mine planning consultants, Bara Consulting (Pty) Limited (\"Bara Consulting\") and evaluated the economics of developing an open pit mine and processing f...