Leading Africa in the Battery Minerals Revolution
Prospect Resources Limited (ASX: PSC, FRA:5E8) is a battery minerals company with a focus on lithium in and around Zimbabwe, with the flagship project being the 70% owned Arcadia Lithium project, located on the outskirts of Harare in Zimbabwe.
Prospect has a strong, agile team split between Africa and Perth who have the optimal experience to build Prospect as Africa's leading mineral business.
Australian Team – financing, investor relations, corporate governance, offtake and marketing
- Small and focused head office team
- Deep financial market and transaction experience
African Team - development and exploration
- Strong and experienced local team with a track record of discovering, proving, building and operating mining projects in Africa
- Significant majority of the Prospect team is based on the ground in the region
Latest News
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08 Mar 2021
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08 Mar 2021
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02 Mar 2021
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01 Mar 2021
Project Highlights
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Arcadia, a game changing lithium project
Arcadia Lithium Project represents a globally significant hard rock lithium resource. The project is being rapidly developed by Prospect’s experienced team, with the focus on near term production of petalite and spodumene concentrates.
- 7th largest global hard rock lithium asset
- Fully permitted to commence production
- Strong project economics to drive returns for shareholders
- Diversified markets across Europe, North America and North Asia
- Close proximity to a skilled labour force and established infrastructure
- Operating in an established mining jurisdiction, with over 100 years of mining history
- Offtake agreement and equity investment from Shenzhen Stock Exchange listed lithium chemical converter Sinomine Resources Group
- Appointed Afreximbank to arrange and manage the primary syndication of a US$143m project finance debt facility
On 12th Dec 2019, Prospect released an updated Definitive Feasibility Study (DFS) with the following key project outcomes:
- US$710M pre-tax NPV10, up 39%. Confirming the value of the project and the opportunity for Prospect Resources
- Exceptional profitability and healthy operating margins with US$168M average annual EBITDA for the first 5 years of operation
- US$162M capital expenditure estimate Including EPCM contract cost provision, and 14% contingency (including EAA*)
- US$3.42B LOM revenue excluding tantalum credits, up 17%. Demonstrating the value to shareholders
- 15.5 year mine life,further increasing Arcadia's exposure to long term EV demand
- Substantially improving project returns with an internal rate of return (IRR) of 71% (pre-tax), up from IRR 44%