Michael Foster has resigned as nonexecutive director and chairperson of Premier African Minerals.
CEO George Roach will, strictly for 30 days, act as interim chairperson in an effort to continue supporting Premier’s efforts in the restructuring and diversification of both country and commodity risk, with Premier’s principal focus being the need for a cash-generative asset.
The recent addition to Premier’s board of Neil Herbert, and the proposed appointment of another representative from MNH in due course, are all aimed at revitalising the company and aligning the best mutual interest of both Premier and MNH.
Concurrent with Foster’s resignation, Roach on Monday said Premier had a further invitation to attend a meeting with the Mining Affairs Board, in Harare, at the end of September, as part of the ongoing exclusive prospecting order application for the company’s Zulu lithium and tantalum project.
In respect of the RHA tungsten mine, site work has started, with the construction of a suitable substation for electrification of the mine.
Premier has also been able to better assess the overall funding that will need to be invested by the National Indigenisation and Economic Empowerment Fund.