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Prospect Resources Ltd (ASX:PSC) provides the Company's latest Presentation on Arcadia Lithium Project.

- 70% increase in Ore Reserve

- Conditional Offtake and Placement Agreement to Fully Fund Construction of the Arcadia Lithium Mine

- A New Government in Zimbabwe

Arcadia Lithium Project Summary

- ~808 000t lithium oxide (>2,000,000t lithium carbonate equivalent)

- 7 year Offtake for 100% of Phase 1 Production

- Sinomine to Fully Finance & construct Mine & Plant (under Prospect's supervision)

- No repayment of loan until plant is operating at name plate capacity and product is shipped

- Phase 1 Fully Financed: Subject to Prospect and Sinomine each obtaining necessary regulatory approvals (including National Development Reform Commission, the Ministry of Commerce and State Administration of Foreign Exchange and FIRB); and the parties negotiating and executing the Build and Transfer Contract and Facility Agreement

Prospect Resources Background

- Prospect Resources Limited (ASX:PSC) is a Lithium company based in Perth with operations in Zimbabwe.

- The Arcadia Lithium Project is one of the largest hard rock lithium resources in the world.

- Zimbabwe set for an economic boom under its new government

- 7 year offtake for 100% of Phase 1 Production with Sinomine

- Sinomine to fully finance the construction of the Mine and Plant, subject to conditions

- Sinomine to become a major shareholder in Prospect via a share investment of A$10 million, subject to conditions

- Prospect Resources has a strong and experienced management team with a track record of building and operating mining projects in Zimbabwe

- Near term Spodumene and Petalite production - both lithium bearing minerals are converted to battery grade lithium carbonate and lithium hydroxide

- 99.5% battery grade lithium carbonate produced from Arcadia Petalite

To view the full presentation, please visit:
http://abnnewswire.net/lnk/VBKBU054


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.

 

Contact

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

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



Link: Presentation - Arcadia Lithium Project



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Related Industry Topics:
Metals Materials General Mining Gold Lithium

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