Quarterly Activities Report
Quarterly Activities Report
Perth, Aug 1, 2018 AEST (ABN Newswire) - Prospect Resources Ltd (ASX:PSC) (Prospect, the Company) is pleased to report on another busy quarter of activities.

Summary of Significant Announcements in the Quarter and up to the date of this announcement:

4 April - Completion of A$10m placement at 6c per share to Sinomine and US$557m Sinomine offtake agreement

5 April - Hunter Capital Advisers issues research report

3 May - Zimbabwe Minister for Mines visits Prospect's Lithium Carbonate Pilot Plant

14 May - Appointment of Sam Hosack as Managing Director

16 May - Appointment of DRA to provide upfront engineering & design services

21 May - Appointment of Earthmoving Contractor

8 June - Release of BBC Radio interview with Harry Greaves

14 June - Arcadia Lithium Mine progress update in photos

15 June - Arcadia Mine flyover

We finished the Quarter with:

- A$16m cash available to spend on Arcadia and a further US$10m funding commitment;

- Continued interest in securing the balance of the Stage 1 offtake volume along with finance proposals for the Arcadia Mine;

- Additional interest in Stage 2 offtake supplies;

- First mining contracts signed;

- The tailings storage facility cleared, starter pit cleared, working accommodation facilities under construction and the platform for some 5,000m2 of covered facilities being prepared; and

- A strong trading cashflow of some A$548,000 (YTD A$1.496m) from farm sales and currency trading. Gross profit from these activities for the quarter was A$580,000.

To view the full report, please visit:
http://abnnewswire.net/lnk/S60B03R7


About Prospect Resources Ltd

Prospect Resources Ltd ASX PSCProspect Resources Limited (ASX:PSC) is based in Australasia with operations in Zimbabwe and is a publicly listed company. We are committed to creating value for Prospect's shareholders and the communities in which our company operates. Our vision is to build a Southern African based mining company of international scale.

 


Contact

Hugh Warner
Prospect Resources Ltd
Executive Chairman
T: +61-413-621-652

Sam Hosack
Prospect Resources
Managing Director
T: +61-420-407-890

Harry Greaves
Prospect Resources Ltd
Executive Director
T: +263-772-144-669
WWW: www.prospectresources.com.au



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