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Premier African gearing up for first production

By Robert Tyerman | Thursday 5 March 2015


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


George Roach, chairman, chief executive officer and major shareholder of Premier African Minerals (PREM), sounds upbeat as he pauses from crucial last-minute offtake and financing negotiations for the company’s RHA tungsten project in north-west Zimbabwe, which he says should start production in June. He says talks have reached a ‘very detailed’ stage about a single debt package worth $2 million (£1.3 million) to cover the final shortfall and plant is being assembled in Johannesburg to re-launch the mine, which was developed up to the 1970s by Canadian miner Falconbridge, a company later bought by the Xstrata combine.


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