Prospect Resources Lifts Mumbezhi Copper Resource by 63% and Adds Gold, Cobalt Upside

Prospect Resources Ltd. ( (AU:PSC) ) has issued an update.

Prospect Resources has reported an updated mineral resource estimate for its Mumbezhi Copper Project in Zambia, lifting total resources to 173.8 million tonnes at 0.44% copper and 0.50% copper equivalent. The new estimate represents a 63% increase in tonnage and a 50% rise in contained copper to about 772,000 tonnes compared with the prior March 2025 resource.

Management highlighted that copper grades at Mumbezhi are now comparable to those at tier-one operating mines in the Zambian Copperbelt, underscoring the project’s growth credentials. The first-time inclusion of maiden gold and cobalt resources at Nyungu Central unlocks potential by-product revenue, while 41% of the resource now sits in the higher-confidence Indicated category.

Prospect plans further upside through a maiden resource for the West Mwombezhi prospect and an updated global exploration target expected in the first half of 2026. A Phase 3 drilling and regional exploration campaign is set to commence in the second quarter, focusing on Nyungu Central and new targets at Chipimpa and Sharamba, reinforcing a busy growth pipeline for the project.

The most recent analyst rating on (AU:PSC) stock is a Hold with a A$0.47 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-listed minerals exploration and development company focused on the Mumbezhi Copper Project in north-west Zambia. The company is advancing the Nyungu Central and Kabikupa deposits in the Zambian Copperbelt, targeting copper with additional exposure to gold and cobalt by-products to enhance project economics and scale.

Average Trading Volume: 948,460

Technical Sentiment Signal: Buy

Current Market Cap: A$327.9M

For detailed information about PSC stock, go to TipRanks’ Stock Analysis page.