Premier African (PREM) Shares Muted on the Latest Drill Results

Premier African Minerals Ltd (LON: PREM)’s share price was little after the miner released the latest assay results from its Zulu lithium and tantalum project. Investors shrugged off the results because they were exactly as expected.

The miner noted that today’s results are from drill holes in the area where it plans to construct the pilot mine. The results are expected to form part of the mineral resource update used to prepare the project’s Definitive Feasibility Study (DFS).

Investors were largely unfazed by today’s results as they confirmed the nature of Zulu’s underlying resources, which are already known. Markets are awaiting any significant advances in advancing the pilot plant that could trigger a rally.

Premier African Minerals is privileged to have the services of Bruce Cumming, its Principal Geologist, who has over 46 years of experience as a geologist working on multi-commodity projects across Africa. He is also a Registered Geoscientist with GSSA and SACNASP.

PREM shares are up 33.75% year-to-date as most investors look forward to the pilot plant becoming operational. The company last week provided an update on the construction of the pilot plant, which is in the final stages.

The miner indicated that it will produce spodumene concentrate (SC6) as planned in this first quarter. Nevertheless, the company was waiting for the delivery of generators and control centers for electric motors, which would be installed as soon as they arrived from Johannesburg.

Premier African Minerals had already started pit clearance and was on track to expose the primary orebody for mining. The company’s water supply in the form of a 10 meter dam was operational, as were the flotation circuits.

George Roach, CEO of Premier African Minerals commented: “We continue to see good intercepts within the spodumene-rich pegmatite that are both encouraging long-term and support our decision to commence operations with the large-scale pilot plant as we have done.”

*This is not investment advice.

Premier African Minerals (PREM) share price.

Premier African Minerals (PREM) shares fell 1.43% to 0.69p from Friday’s close of 0.70p.