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Prospect Resources Ltd. ( (AU:PSC) ) has issued an announcement.
Prospect Resources has significantly expanded the Mumbezhi Copper Project’s mineral resource, reporting a 63% increase in tonnage and a 50% rise in contained copper, with over 41% now in the Indicated category. The updated resource, now comparable in grade to leading Zambian Copperbelt mines and bolstered by maiden gold and cobalt resources, strengthens the project’s development credentials and potential by-product economics.
Re-assaying at Nyungu Central has confirmed widespread gold mineralisation, which will feed into an updated resource estimate in the June quarter, while drilling at West Mwombezhi has outlined a shallow, kilometre-scale copper footprint that will underpin a maiden resource. Backed by a A$45 million equity raising and a 90% stake in Mumbezhi, Prospect is funded for a 50,000m drilling program through 2027, positioning the company for further resource growth and value creation for shareholders.
The most recent analyst rating on (AU:PSC) stock is a Buy with a A$0.60 price target. To see the full list of analyst forecasts on Prospect Resources Ltd. stock, see the AU:PSC Stock Forecast page.
More about Prospect Resources Ltd.
Prospect Resources Ltd. is an Australia-listed mineral exploration and development company focused on the Mumbezhi Copper Project in Zambia’s Copperbelt. The company targets large-scale copper deposits with additional gold and cobalt by-product potential, aiming to build a tier-1 polymetallic operation supported by extensive drilling and technical studies.
Average Trading Volume: 1,326,776
Technical Sentiment Signal: Buy
Current Market Cap: A$276.8M
Find detailed analytics on PSC stock on TipRanks’ Stock Analysis page.