Premier’s RHA process plant ready to ship, second loan note tranche expected

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LONDON – The process plant to be installed at the flagship RHA tungsten project has been completed and is ready to be transported to the site in Kamativi, multi commodity natural resource group Premier African Minerals said on Tuesday.

The project remained on track for commissioning in June as Johannesburg-based Appropriate Process Technologies informed Premier of the preparation for the transportation of the plant to site for assembly.

“At the same time, the terms of the agreement provide some flexibility for Premier to demonstrate quality and consistency of our wolframite concentrates that may result in better terms after an initial six-month period,” Premier chief-executive officer George Roach
George Roach

“We have achieved another milestone today with the completion of the process plant,” Premier CEO George Roach said in an update to shareholders.

The completion and expected delivery of the process plant meant that Premier had met all the conditions required to receive the second of three tranches of the £1,65-million loan note instrument secured from Darwin Strategic in April.

Following the issue of the first £450 000 paid upon the signing of the subscription agreement on April 28, Darwin planned to release £750 000 to Premier on Tuesday.

A further £450 000 would be paid out on June 1 after the process plant and equipment were delivered to the site and commissioned.

– Mining Weekly