Premier African Minerals One2One Investor Presentation 14th March

Investor Presentation 

March 2013

Disclaimer 

This document, which is personal to the recipient, has been issued by Premier African Minerals Limited ( “PREM or Premier”) and does not constitute or 

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estimates or projections or opinions contained herein necessarily involve significant elements of subjective judgment, analysis and assumptions and each 

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The information contained in this document has not been fully verified and is subject to material updating, revision and further amendment. This document 

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This document and its contents are confidential and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or 

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or, as appropriate, the Company directors’ current expectations and projections about future events. By their nature, forward-looking statements involve a 

number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the 

forward-looking statements. Forward-looking statements contained in this document regarding past trends or activities should not be taken as a 

representation that such trends or activities will continue in the future. The Company does not undertake any obligation to update or revise any forwardlooking 

statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking 

statements, which speak only as of the date of this document. The mineral resource estimates referred to in this document are estimates only and no 

assurance can be given that any particular grade of minerals will in fact be realised or that an identified resource will qualify as a commercially mineable (or 

viable) deposit that can be legally and economically exploited. No estimates of mineral resources comply with the U.S. Securities and Exchange 

Commission’s Industry Guide 7. 

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Premier African Minerals / March 2013 2

PROFILE 

PORTFOLIO 

STRATEGY 

VALUE 

Company Snapshot 

AIM quoted multi-commodity (tungsten, Rare Earth Element (‘REE’), phosphate, 

gold, lithium, tantalum, fluorspar and clays) development company focussed on 

Southern and West Africa 

RHA Tungsten Project and Katete REE Project – Zimbabwe 

Southern Togo Phosphate Projects – Togo 

Dapaong Gold Project - Togo 

Pipeline multi-commodity portfolio offering value upside 

Focussed on value creation by advancing its multi-commodity portfolio up the 

resource curve to development and production, and completing strategic and costeffective 

acquisitions and forming strategic alliances 

Near term resource and production potential at RHA Tungsten project 

Large scale REE deposit at Katete 

Phosphate development potential in Togo 

Exploration value upside at unexplored Dapaong gold project in Togo 


George Roach 

Chairman & CEO 

Pamela Hueston 

Finance Director 

Bruce Cumming 

Technical Director 

Ian Stalker 

Non Executive Director 

Leslie Goodman 

Non Executive Director 

Experienced Board 

• Extensive experience in securing and establishing mineral exploration tenure and operations throughout Africa, 

including the CAR, Zimbabwe, South Africa, Chad, Mali, Namibia, Zambia and Tanzania 

• Founding Director and former Managing Director Africa for UraMin Inc., a uranium resource company with 

operations in Namibia, South Africa and the CAR. UraMin was sold in 2007 for US$2.5 billion 

• President and CEO of Axmin Limited (TSX-V:AXM) 

• Chairman and CEO of Ethiopian Potash Company (TSX-V: FED) 

• Former CFO designate of Ethiopian Potash Company (TSX-V: FED) and CFO of G and B Central African Resources 

• CFO of Virginia Diamond Field, which conducted a US$25 million bulk sample diamond exploration project in 

South Africa 

• Head Accountant with Caledonia Mining Corporation (TSX: CAL), a junior gold mining and exploration company 

with operations in South Africa, Zimbabwe and Zambia 

• Four years with Deloitte in various global locations working as a Senior Manager in Forensic Accounting 

• Canadian Chartered Accountant and MBA Graduate from the University of Cape Town 

• Experienced exploration geologist with over 35 years in base metal and diamond exploration across Africa 

• Bachelor of Science (Honours), University of Cape Town 

• 26 years with Falconbridge Limited group of companies throughout Southern and West Africa, exploring for 

nickel, copper, gold, diamonds and uranium 

• Consulted on various PGM opportunities in the Bushveld, Exploration Manager in Sierra Leone for an AIMlisted 

diamond exploration company 

• Specialist Exploration for Konkola Copper Mines (Vedanta), Zambia 

• Chief Executive of Brazilian Gold Corporation, listed on TSX Venture Exchange 

• Over 30 years of development and operational mine experience in Europe, Africa, and Australia 

• Former CEO of Berkeley Resources, listed on ASX and AIM 

• Former CEO of UraMin Inc. 

• Former Vice President of Gold Fields Ltd., the world’s fourth largest gold producer at the time 

• Mr Goodman, a M.A. in Law from Cambridge University, qualified and practiced as a Solicitor in London 

• Mr. Goodman held the position of C.E.O. for ACE Global Markets, ACE Strategic Advisors Inc. and Jardine 

• Lloyds Advisors Limited. He was a Director and Head of International M & A with Barclays de Zoete Wedd 

• Limited, and Director of Corporate Finance with Hill Samuel. He was previously Chairman of the Board of 

• Directors of Viatel Holdings (Bermuda) Limited and Chapelthorpe plc. He is also a Director of two publicly 

traded companies 


Portfolio 

RHA Tungsten Project 

Zimbabwe 

Katete REEProject 

Zimbabwe 

Southern Togo Phosphate 

Project 

Togo 

Dapaong Gold Project 

Togo 

Pipeline Projects 


Project locations 

“Premier African Minerals is building a diverse portfolio of highly prospective multicommodity 

projects in Southern and West Africa” 


1,800 ha landholding in the multi-commodity Kamativi 

Tin Belt in NW Zimbabwe centred over the historic RHA 

and Tung tungsten mines 

Exploration potential to host both a commercial scale 

open pit tungsten mine with a favourable stripping ratio 

(3:1) and high-grade quartz vein hosted underground 

operations 

Potential Exploration target of 10Mt @0.12% to 0.17% 

WO 3 and 86,000 tonnes @ 2.25% WO 3 

Further resource upside at depth and along strike - 2km 

strike untested and historic Tung open pit mine 5km NE 

which PREM has an option on 

RHA is a historic operation which focussed on multiple 

quart vein (lodes) hosted wolframite mineralisation 

produced high-grade concentrate utilising simple gravity 

circuit (1,247t at 65% WO 3) – all historic data secured 

Excellent infrastructure – accessible from the main 

Bulawayo-Hwange tar road 

Development plan in place to fast-track towards 

SAMREC compliant resource by H1 2013 

Production potential by the end of 2013 

RHA Tungsten Project - Zimbabwe 

Drilling Programme at RHA 

Historic Production at RHA mine 


1,302m five hole diamond drilling (‘DD’) programme 

undertaken, sampling confirmed significant tungsten 

oxide values – best results include: 

DD003: Weighted average 0.46% WO3 over 15m* 



*Note: Intersection widths, not true widths 

Drilling uncovered two, potentially three, previously 

unknown, well mineralised quartz veins lying in the 

hanging wall of the existing lode system 

Further detailed examination and sampling of the DD 

drill core completed with 198 samples taken targeting 

individual samples and zones > 0.15% (‘WO 3’) – results 

due Q1 2013 

Initial detailed geological logging has revealed tungsten 

mineralisation in the form of very coarse wolframite 

crystals, hosted within narrow quartz veins between 

5cm and 10cm 


PREM Exploration Mine Development Work Programme 

Fast-track exploration and development work to define a 

compliant mineral resource in H1 2013 

Conceptual mine study in progress assessing the 

potential to redevelop the mine as an open pit operation 

or high-grade underground operation by the end of 2013 

Further 2,500m drilling planned to continue to explore 

the down-dip extensions of the high-grade lodes and 

further explore the newly discovered zones 

Enter the existing underground workings for more 

detailed geological mapping of the lode system, resampling 

and confirmation assaying of the underground 

workings, and collection of bulk samples for 

metallurgical flow sheet development 

Update resource to Indicated category from the above 

work 


29.49m weathered quartz vein, partially oxidised wolframite 


61.07-61.20m, quartz vein with wolframite laths and clusters 

broken up by shearing 


Historic open pit workings 

Historical plant 

RHA camp facilities 

Tailings 

RHA - Gallery 


3,750 ha project area covering 25 mineral claim 

blocks covering the Katete carbonatite in the 

Matabeleland North Province in NW Zimbabwe 

Excellent infrastructure with good accessibility via 

all weather gravel road from Kamativi 

Large multi-phase REE enriched carbonatite 

complex exposed at the surface thus amenable to 

open cast mining with a low strip ratio 

Previous exploration conducted by Anglo American 

for phosphate identified the presence of significant 

REE mineralisation 

PREM Trenching – 425 samples - high grade zones 

between 1-3% TREO identified with peak result of 

14.6% TREO (13.2% Ce 2O 3 and 0.6% La 2O 3) with 

average 1.74% TREO 

PREM scout drilling – 7 holes for 1,178.9m, TREO 

distribution is consistent with depth and several 

samples displayed >3% TREO over widths from 1m 

to 4m 

Best analysis to date: 4.9% TREO from drillhole 

KATDD003 over a 3m interval from 89.64m to 

92.64m (La203 1.4%, Ce203 2.4% and Nd203 0.7%) 

– further analyses are pending 

Katete REE Project - Zimbabwe 


2013 Work Programme 

Complete initial mineralogical and metallurgical 

study once all assays are received 

Targeting compliant mineral resource in H1 2013 

Commence of a preliminary economic study by H2 

2013 


Katete - trenching 

George Roach and Ian Stalker at Katete 


100% owned 173.99 sq km permit area located in 

southern Togo, 35km from the port of Lomé 

Phosphate has been Togo’s largest export for over 

40 years 

Potential for a large phosphate deposit: 

Concession borders and is on strike with state 

high-grade phosphate mine which has extracted 

>50Mt of ore over a 40 year period, producing a 

35.7% P2O5 product (BPL 78%) 

Sedimentary basin geology is simple and without 

displacement or significant faulting 

Historic hydrogeological drilling has identified 

phosphate beds on the property 

Shallow cover deposit – potential for low-capex 

open pit mining operation 

1.5km strike between state (SNPT) phosphate mine 

and PREM’s permit area – potential for commercial 

quantities of high-grade phosphate mineralisation 

Conceptual exploration target of 75Mt at 32% P₂O₅ 

defined by mining consultants – Venmyn 

Exploration work to be undertaken to define 

compliant resource by Q3 2013 

Phosphate ore in the area is processed to create a 

marketable phosphoric acid product – metallurgical 

work of PREMs property to be undertaken 

Southern Togo Phosphate Project – Togo 

PERMITS PREM CORE HOLE 

FLUVIATILE SEDIMENTS DGMG CORE HOLE 

RECENT SANDS AND CLAYS 

SANDY CLAYS 

PHOSPHATE ORE BODIES 

PHOSPHATIC LIMESTONES 

LAMINATED CLAYS CONTAINING ATTAPULGITE 

WHITE LIMESTONES 

CALCAREOUS MARLS 


Two exploration permits totalling 400 km² in the 

Dapaong area northern Togo 

Considered to be highly prospective for gold due 

to location and favourable geological setting 

Project underlain by Birimian-aged intrusives 

and similar aged minor volcanic and 

sedimentary sequences located on the eastern 

extent of the West African Craton – geology 

which hosts multi-million ounce deposits in 

Ghana, Mali, Cote d’Ivoire and Burkina Faso 

Significant artisanal activity in the permit areas 

which have never been subjected to systematic 

exploration for gold 

Exploration activities to be directed to the 

discovery of the bedrock sources of artisanal 

gold workings and geochemistry programmes to 

assess the gold potential of the whole area 

Dapaong Gold Project - Togo 


Project Country Further details 

Southern Togo Clays Togo 

Pipeline Portfolio 

“Generative pipeline of multi-commodity projects which offer future exploration & 

development, JV and strategic partner opportunities to maximise shareholder value” 

Bassar Phosphate Togo 

Haito Nickel Laterite Togo 

Pagala Lead-Zinc Togo 

Kara Niamtougou Uranium Togo 

Tinde Fluorspar Zimbabwe 

Lubimbi REE Zimbabwe 

Zulu Lithium Zimbabwe 

Taoudenni Potash Mali 

Located in the northern part of Southern Togo Project 

High quality clay project with potential in-situ resources of 108Mt attapulgite and smectite 

Mineralisation remains open along strike and down dip 

Venymn: potential conceptual Exploration Target upside of 254Mt 

Located 315 km north of PREM’s Southern Togo Phosphate project (350km to Port of Lome) 

Non compliant resource of 20Mt at 22% P₂O₅ 

1,000m drill programme planned to assess the project 

600 sq km project located in south west Togo - deposit still open at depth 

Inferred compliant resource by surface pitting of 7.21Mt at 0.99% Ni at 0.7% Ni cut off 

400 sq km contiguous land position 230km north of the port of Lome 

Non compliant historical resource of 3.6Mt at 2.7% Zn 

766 sq km permit area 380km north of the port of Lome 

Non compliant resource of 150 -300t Uȝ08 

1,350 Ha located east of the historic Kamativi tin mine in the Matabeleland North province 

Vein fluorspar >30% grade historically mined - exploration target 34,000t at 33%CaF2 

REE deposit located in Matabeleland North province 

Xenotime identified in historical trenching 

350 Ha project with good infrastructure located 16km from Fort Rixon District in Matabeleland 

South province - historic exploration target of 1Mt @1.45% Li – PREM conducted mapping & 

trenching 

976 sq km prospecting area in central northern Mali 

53Mt non compliant resource of sodium salt 


Investment Case 


RHA Tungsten Project – Zimbabwe 

Define SAMREC compliant mineral resource by H1 2013 

Complete conceptual mine study by H1 2013 

Potential production by the end of 2013 

Katete REE Project – Zimbabwe 

Complete initial mineralogical and metallurgical study 

Targeting compliant mineral resource by H1 2013 

Commence a preliminary economic study by H2 2013 

Southern Togo Phosphate Project 

Metallurgical work of property to be undertaken 

Exploration work to be undertaken to define compliant 

resource by Q3 2013 

Dapaong Gold Project 

Exploration programme including geochemistry planned 

to further assess artisanal gold workings 

Pipeline portfolio 

Evaluate synergistic opportunities to either fast-track 

development or monetise project 

2013 Development Milestones 

Trenching at Zulu Lithium Project - Zimbabwe 



Investment Case 

Solid portfolio of multi-commodity projects in mineral rich countries in Africa, with a clear 

development path to drive value 

Diverse portfolio – mitigating risk: 

Near term resource potential at RHA Tungsten and Katete REE projects in Zimbabwe - potential to 

fast-track projects up the development curve with a view to production and early cash flow 

Commercial phosphate development potential in Togo 

Exploration value upside at under explored Dapaong gold project in Togo 

Pipeline portfolio offers future development upside and spin-out opportunities 

Value creation potential through strategic partnerships and acquisition opportunities 

Strong newsflow for 2013 – significant milestones targeted 

Proven Board and management team – experienced at sourcing and developing natural resources 

projects in Africa and creating shareholder value 

Strong relationships with governments, authorities and regional stakeholders, contractors and 

suppliers in its countries of operation 


Appendices 


MARKET AIM 

TICKER PREM 

SHARE PRICE 0.875p (11.03.13) 

MARKET CAP £3.18m 

Shareholder 

Analysis 

Coc'roach Limited - 33.36% 

ZRH Nominees (0105) Ltd - 23.82% 

Cumming Limited - 4.61% 

Others 

Appendix 1 - Key Data 

12 MONTH HIGH/LOW 1.99p/0.8p 

SHARES IN ISSUE 336,000,000 

NOMAD Cairn Financial 

BROKER Shore Cap 

Directors Shareholding 

George Roach 57.19% 

Bruce Cumming 4.61% 

Ian Stalker 1.36% 

Total 63.16% 

Share price 

• ZRH Nominees is a BVI company set up to act as nominee for Corestar Holdings Ltd. Corestar Holdings Ltd is a BVI company which is wholly-owned by the Corestar STAR Trust, a trust established for the furtherance of 

certain purposes which could include the provision of benefits to George Roach and his family, at the discretion of the trustees of the trust. 

• Coc’roach Limited is owned by the Coc’roach Trust. The Coc’roach Trust is a partial discretionary trust pursuant to the terms of which George Roach and his family may fall within the class of potential beneficiaries. 

• Cumming Limited is owned by the Cumming Family Trust which is a partial discretionary trust pursuant to the terms of which Bruce Cumming and his family may fall within the class of potential beneficiaries. 


Broad multicommodity 

portfolio 

Operating in 

known mineral 

rich countries 

Defined development 

strategy 

Secured excellent 

historical data 

across key 

projects 

Near term resource 

and production 

potential 

Significant JV 

partner 

opportunities 

Appendix 2 - Value Drivers 

Pipeline portfolio 

offers future deal 

and monetisation 

opportunities 

Highly 

experienced team 

In-country 

operational 

network 


Appendix 3 - Corporate Structure 


Appendix 4 - Togo and Zimbabwe Regional Geology 


Tungsten REE 

- Essential component in several key industrial applications – 

50% of worldwide production produced tungsten carbide, 

secondary uses include electronics and specialist steel 

alloys 

- Strong market fundamentals: 

- China produces 80% of world tungsten – also a net 

importer with domestic demand expected to grow 

8% annually 

- Declared as a critical metal for Europe by EU in 

2010 

- Supply constraints in the market 

Phosphate 

• 90% of all phosphate rock is used in the production of 

fertilisers 

• Market growing in line with other agricultural markets owing to 

population and per capita use increases 

• Phosphate usage is expected to stem largely from the 

developing countries of Asia-Pacific, Latin America and the 

Middle East 

• China is the world’s largest producer of phosphate rock 

• Togo currently produces just over 800,000 tonnes of rock 

phosphate each year - estimated 60 million tonnes of phosphate 

reserves according to the US State Department 

Appendix 5 - Commodity Markets 

• REE comprise 17 chemical elements that are widely used in 

high-tech goods and low carbon technologies 

• Global industrialisation and population growth are placing 

an increased pressure on REEs 

• Despite name, REE are relatively plentiful but are rarely 

found in concentrated and economically exploitable forms 

• China currently dominates the market, accounting for 95% 

of supply 

• Price of several REEs has multiplied by five or six times 

since 2010 after China announced export restrictions 

Premier African Minerals / March 2013 24 

Gold 

• Average growth of demand for gold has outstripped the 

average growth in supply by 3% a year since 2002 

• High gold prices have allowed many mines to lower cut-off 

grades to extract previously uneconomical resources 

• Gold supply spread across a variety of countries , including 

China and South Africa – diversity of supply reduces 

volatility 

• Jewellery is the largest source of world gold demand with 

India forming the largest market 

• Rising disposable incomes in India and China have 

potential to double gold jewellery over next decade

George Roach, Chief Executive Officer 

Premier African Minerals 

E: george@regentresources.co.za 

T: +27827822283 

UK Office 

49 Cadogan Gardens, 

London, SW3 2TH 

United Kingdom 

Contacts

Premier African Minerals One2One Investor Presentation 14th March

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