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Prospect Resources Ltd. ( (AU:PSC) ) has provided an announcement.
Prospect Resources has completed its Phase 2 drilling program at the Mumbezhi Copper Project in Zambia, with nearly 15,000m of diamond drilling and over 3,500m of aircore drilling extending the mineralised footprint at the Nyungu Central deposit to more than 1.5km and confirming significant extensions at the Kabikupa deposit. The results, which include numerous notable copper intercepts and confirmation of widespread by-product gold mineralisation at Nyungu Central, are expected to underpin updated Mineral Resource estimates for Nyungu Central and Kabikupa in the first quarter of 2026. In parallel, regional airborne electromagnetic surveying has identified 11 strong conductors, including the 2.5km-long Chipimpa target that mirrors the geophysical signature of Nyungu Central, highlighting broader district-scale potential. On the corporate front, the company strengthened its board with the appointment of geologist Dr Doug Jones, completed the US$2.2 million sale of its Step Aside Lithium Project in Zimbabwe, and ended the quarter with approximately A$10.4 million in cash and no debt, positioning it to accelerate exploration and development at Mumbezhi and potentially enhance its standing as an emerging multi-commodity copper-gold player in Zambia.
The most recent analyst rating on (AU:PSC) stock is a Hold with a A$0.43 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 ASX- and Frankfurt-listed mineral exploration and development company focused on copper and associated by-product metals in Africa, with its flagship asset being the Mumbezhi Copper Project in Zambia. The company has recently divested non-core lithium interests in Zimbabwe to concentrate capital and management attention on advancing Mumbezhi and related regional targets, while maintaining a debt-free balance sheet and solid cash position to fund exploration and resource growth.
Average Trading Volume: 711,317
Technical Sentiment Signal: Buy
Current Market Cap: A$310.2M
Find detailed analytics on PSC stock on TipRanks’ Stock Analysis page.