Premier’s Roach agrees to surety with JRG
JOHANNESBURG (miningweekly.com) – Aim-listed Premier African Minerals chairperson and CEO George Roach on Monday agreed to provide a guarantee for any amounts owing under the proposed memorandum of agreement (MoA) with JR Goddard Contracting (JRG).
Under the MoA with JRG, which was the openpit mining contractor at RHA Tungsten, Premier would settled the $851 312 owing to JRG at a rate of $54 626 a month over a 20-month period.
Should Premier restart openpit mining operations through the direct engagement of JRG during the 20-month period, $247 000 would be recovered by way of equal monthly payments against JRG's mining certificates over the duration of the new agreement.
In light of this, Premier entered into a put option agreement with Circum Minerals, in which Roach would acquire Circum shares at $2 apiece in the event Premier failed to meet its obligations under the JRG memorandum, JRG exercised its rights under the surety against Roach, or Premier failed to find an alternative buyer for its Circum shares.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation