Chief Executive Statement
It is a pleasure to share with you the unaudited interim results for the six months ended 30 June 2021.
The first six months activity of 2021 (the ‘Period’) has been extensively reported as post financial year end events in our annual financial statements that were released just a few months ago and in various interim announcements.
I am happy to confirm as we publish these interim results, a few notable achievements including:
· The reversal of the impairment imposed on Zulu Lithium Private limited (‘Zulu’), which has been internally reviewed in consultation with our external auditor;
· International spodumene concentrate prices continue to increase and this is most encouraging for our prospects at Zulu;
· All sample preparation and site analysis equipment has been delivered to Zulu and has been commissioned;
· First provisional analysis results from drilling are imminent;
· Negotiations proceed regarding RHA Tungsten Private Limited (‘RHA’) and whilst ammonium para tungstate prices continue to hold above $300 per metric ton unit, there is a strong potential future for RHA, and
· We continue to engage directly with MN Holding Limited in our focus on cash generative assets.
Financial and Statutory Information
The Group had an operating profit of $3.943 million for the six months ending 30 June 2021. This is due to the reversal of the impairment of the evaluation and exploration assets of Zulu Lithium.
Premier received continued financial support from its shareholders throughout the period.
These interim statements to 30 June 2021 have not been reviewed by the auditors.
Mr. George Roach
Chief Executive Officer
30 September 2021
Forward Looking Statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ‘believe’, ‘could’, ‘should’, ‘envisage’, ‘estimate’, ‘intend’, ‘may’, ‘plan’, ‘will’ or the negative of those, variations, or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors’ current expectations and assumptions regarding the Company’s future growth, results of operations, performance, future capital, and other expenditures (including the amount, nature, and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors. A number of factors could cause actual results to differ materially from the results discussed in the forward looking statements including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses, and other factors, many of which are beyond the control of the Company. Although any forward looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018.
The person who arranged the release of this announcement on behalf of the Company was George Roach.
For further information please visit www.premierafricanminerals.com or contact the following:
Premier African Minerals Limited
Tel: +27 (0) 100 201 281
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