Quarterly Activities Report
Summary of Significant Announcements:
5 April - Update of Pre-Feasibility Study (PFS) timing and New Website
5 June - Receipt of Environmental Approval to Build the Arcadia Lithium Mine
13 June - Acquisition of Option - Good Days Lithium Project
26 June - High Grade Spodumene Confirmed at Good Days Lithium Project
3 July - PFS Confirms viability of the Arcadia Lithium Project
As with the March Quarter, much of the quarter was spent on completing the Pre-Feasibility Study (PFS) for the Company's Arcadia Lithium Project.
Shareholders will also be aware that we have delivered Arcadia's first product samples to potential customers in Asia, Europe and the US. I am pleased to say that demand has out stripped supply of our samples and so we are now preparing additional samples for delivery to more potential customers. Our team will be back in Asia in the coming weeks to continue discussions with potential customers and to meet prospective customers.
We finished the Quarter:
- in a strong financial position with A$7.34m cash in the bank and no debt;
- the PFS released;
- product samples being delivered to customers; and
- a management team with extensive lithium mining, process and marketing experience and importantly a history of building and operating large scale mining operations in Africa.
The Company is now focusing on discussions with potential off-take partners, settling off-take terms, securing project finance and commencing mine development and plant construction in the shortest possible time so that we can be one of the first of the new wave of lithium producers in the world.
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About Prospect Resources Ltd
Prospect 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.
Prospect Resources Ltd