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An announcement from Prospect Resources Ltd. ( (AU:PSC) ) is now available.
Prospect Resources Limited has announced the sale of its Step Aside Lithium Project in Zimbabwe to Fatima Resources Pty Ltd for up to US$2.2 million. This transaction allows Prospect to simplify its corporate structure and redirect resources towards its Mumbezhi Copper Project in Zambia, which is seen as a more promising opportunity. The sale includes an upfront payment and potential future payments contingent on the buyer achieving certain development milestones. The proceeds will be used to advance exploration in Zambia, potentially enhancing Prospect’s position in the copper market.
The most recent analyst rating on (AU:PSC) stock is a Buy with a A$0.45 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 Limited is a company operating in the mining industry, primarily focusing on the exploration and development of mineral resources. The company is involved in lithium and copper projects, with a strategic focus on expanding its copper portfolio in Zambia.
Average Trading Volume: 711,270
Technical Sentiment Signal: Buy
Current Market Cap: A$133.7M
For an in-depth examination of PSC stock, go to TipRanks’ Overview page.