Prospect Resources Ltd. (AU:PSC) has released an update.
Prospect Resources Ltd announced a successful A$8 million equity raise through a share placement at A$0.10 each, with plans for an additional A$2 million through a Share Purchase Plan (SPP), aiming to fund the advancement of their Mumbezhi Copper Project in Zambia. The company has been bolstered by the strong support from both new and existing investors, including substantial shareholder Eagle Eye, and expects to have A$15.7 million in cash post-placement, excluding SPP proceeds. The funds are earmarked for exploration and development of the copper project, with a focus on drilling initiatives and regional exploration activities.
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