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The directors of Prospect Resources Limited (ASX:PSC) (the "Company" or "Prospect") and its controlled entities (the "Group") submit herewith the financial report of the Group for the half-year ended 31 December 2017.

REVIEW OF OPERATIONS

The first half of the year focussed on infill drilling of the proposed Arcadia pit, bulk sampling and grade control, building our lithium carbonate laboratory, meeting potential offtake partners and potential financiers and investors and investigating additional lithium and cobalt acquisitions in the region.

The above resulted in

- the PFS being released;

- product samples being delivered to customers;

- 99.5% battery grade lithium carbonate produced from petalite at our in-house laboratory;

- A conditional Offtake and A$10m Placement and Framework Agreements with Sinomine Resources Exploration Co. Ltd. and Sinomine International Exploration (Hong Kong) Co. Ltd. (collectively "Sinomine");

- the Mineral Resource Estimate and Ore Reserve upgraded;

- Acquired option over Tombolo Copper/Cobalt Project;

- A$10m placement via Hunter Capital; and

- Option over the Good Days Lithium Project being exercised.

To view the full report, please visit:
http://abnnewswire.net/lnk/3CMIJZ2K


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

Prospect Resources Ltd
T: +61-8-9217-3300
E: info@prospectresources.com.au
WWW: www.prospectresources.com.au



Link: Half Yearly Report and Accounts



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Related Industry Topics:
Metals Materials General Mining Gold Lithium

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