ZIMBABWE-FOCUSED miner, Premier African Minerals has appointed Neil Herbert as its non-executive chairman with immediate effect.
BY MTHANDAZO NYONI
George Roach, who was acting chairman, reverts to his role of chief executive.
Commenting on the development, Roach said: “I am grateful that Neil Herbert has accepted this appointment and particularly at this time when our company is looking to exploit the opportunities both for cash generative assets and to add value as we anticipate granting of our EPO application at Zulu Lithium and Tantalum and through our existing and recently acquired exploration and development projects.”
“I look forward to further board and management changes and a stronger focus on operational efficiencies, improvements and value generation,” he said.
Herbert was appointed a director of the company on August 28 last year.
He has nearly three decades of experience in finance and he trained with PwC and has been involved in growing mining ventures, both as an executive (including Antofagasta plc, Brancote Holdings plc and UraMin Inc) and as a manager of investments (including Galahad Gold plc and Polo Resources Limited).
Herbert has served as a director of several stock exchange-listed companies across the world and was previously a director of Premier between August 20 2013 and April 22 2016.
Currently, he is chairman of IronRidge Resources, Helium One, Siderian Resource Capital and is the former chairman of MN Holding Limited and its subsidiaries which operate Otjozondu.
He has a BA with Joint Honours from the University of Leicester and is a Fellow of the Association of Chartered Certified Accountants.
Herbert currently has 4 million vested options in Premier with the first two million being exercisable at 1,15 pence and the second 2 million being exercisable at 1,5 pence.
Apart from the options, Herbert holds no ordinary shares in the company.
Herbert has a formal engagement with MN Holding Limited to act as consultant under which he is entitled to a 10% fee on any overall purchase of MNH.
Premier is a multi-commodity mining and natural resource development company focused on southern Africa with its RHA Tungsten and Zulu Lithium projects in Zimbabwe.
The company has a diverse portfolio of projects, which include tungsten, rare earth elements, lithium and tantalum in the country.