Premier African Minerals Releases Updated PEA for RHA Project

Premier African Minerals Ltd. (LSE:PREM) announced that an updated preliminary economic assessment (PEA) for its Zimbabwe-based RHA tungsten project points to an extended mine life of 15 years. That’s up from the six-year life reported previously.

Other highlights include:

• Pre-tax project net present value (‘NPV’) at 5% $183m
• Internal rate of return (‘IRR’) of 455%
• Early infrastructure works have commenced

George Roach, CEO of Premier, commented:

This update to our September 2013 Preliminary Economic Assessment (‘PEA’) takes into account recently announced mineral resource increases, final metallurgical studies and test work and a number of other important trade-off and optimisation studies and whilst still at PEA status, reflects a substantial increase in the confidence levels of the project. We expect to provide more details of the low capital, near term production options we plan to implement in the near term.

Click here to read the full Premier African Minerals Ltd. (LSE:PREM) press release.