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Premier African Minerals Ltd.
Summary
| Project: | Zulu | |
|---|---|---|
| Deposit: | Zulu | |
| Location: | Zimbabwe | |
| Commodities: | Lithium-Tantalum | |
| Date: | 11/20/2017 | |
| Report Code: | SAMREC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-11-2017: Premier African Minerals Ltd. announces a Scoping Study report for its Zulu deposit at the Zulu project. Scoping study results incl. NPV (10%) US$127.3M, IRR 85.9% pre-tax. Premier African Minerals Limited ("PREM" or the "Company") is pleased | |
| Resources: | (Resource, Inf.): 20.1Mt @ 1.06% Li2O at Zulu | |
| CP/QP: | [Overall Report]: Andrew D. Pooley (Bara Consulting Pty Ltd.) | |
| ABSTRACT: | Premier African Minerals Limited ("PREM" or the "Company") is pleased to announce the results of a scoping study completed on its Zulu Lithium and Tantalum Project ("Zulu" or "Zulu Project") in Zimbabwe ("Scoping Study"). The Scoping Study has been prepared in compliance with the guidelines of SAMREC by independent South African mine planning consultants, Bara Consulting (Pty) Limited ("Bara Consulting"). Results of the Scoping Study demonstrate excellent potential for developing a robust, low capital cost lithium project with low operating costs, strong cash flow generation capacity and significant upside potential through further Resource growth. The Scoping Study identifies a target production of 84,000 tonnes of spodumene concentrate and 32,500 tonnes of petalite concentrate per year for an initial 15-year life of mine ("LOM") to be the most appropriate option. The significant exploration potential already identified close to the existing Resource base, together with the fact that mineralisation is open at depth and on strike, and the new zones identified and described in the Company's announcement dated 6 August 2017, indicate significant potential for a substantial increase in life of mine and production targets. The Scoping Study assessment of a pre-tax NPV10 value of US$127M is based on prices of US$800/t spodumene and US$400/t petalite concentrate prices respectively. Analysis conducted as part of the Scoping Study to test Zulu project's sensitivity to the spodumene and petalite concentrate price highlights the potential for an uplift in value when current spodumene prices are applied. The results of the Scoping Study are set out in Table 1 below. | |
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