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PROSPECT RESOURCES LIMITED — Capital/Financing Update 2019
Sep 19, 2019
65617_rns_2019-09-19_e0fa1ed2-1659-4882-b056-6cb75d45a7f1.pdf
Capital/Financing Update
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Prospect Resources’ dual listing on the Frankfurt Stock Exchange
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Dual listing of PSC shares on the Frankfurt Stock Exchange
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PSC shares to trade under stock code “5E8”
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Broadens PSC’s exposure to European investors and potential customers
African lithium developer, Prospect Resources Ltd (ASX: PSC) (“ Prospect ” or “ the Company ”) is pleased to announce the dual listing of the Company’s shares on the Frankfurt Stock Exchange. The Company’s shares will trade under the code “ 5E8 ”.
The Frankfurt listing expands Prospect’s investor reach and increases the Company’s exposure to European markets, which is one of the largest regions consuming ultra-low iron petalite in the glass & ceramics market. The Frankfurt Stock Exchange is the world’s third largest exchange-trading market, behind the New York Stock Exchange and NASDAQ. More than 50% of the total trades on the Frankfurt Stock Exchange are conducted through investors in countries outside of Germany.
Prospect’s Managing Director, Sam Hosack, said “Prospect now has access to new clients and capital markets and will gain greater liquidity and exposure to many more retail and institutional investors. This also places us in the European region that is home to some of the largest glass & ceramic end user customers. We see Europe as a core region in Prospect’s capital market and product marketing strategy. The Frankfurt listing also overcomes time difference and account issues for European retail investors.”
“As Prospect’s shares are quoted on the Australian Securities Exchange, which is a Frankfurt Stock Exchange approved exchange, the dual listing was possible without primary listing procedures and at no additional cost to the Company,” he said.
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Prospect Resources Limited | ACN 124 354 329 | W: prospectresources.com.au | Phone: +61 8 9217 3300 Suite 6, 245 Churchill Ave. Subiaco WA 6008 | Email: [email protected]
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For further information, please contact:
Nicholas Rathjen General Manager, Corporate Affairs [email protected]
About Prospect Resources Limited (ASX: PSC)
Prospect Resources Limited (ASX:PSC) is an ASX listed lithium company based in Perth with operations in Zimbabwe. Prospect’s flagship project is the Arcadia Lithium Project located on the outskirts of Harare in Zimbabwe. The Arcadia Lithium Project represents a globally significant hard rock lithium resource and is being rapidly developed by Prospect’s experienced team, focusing on near term production of petalite and spodumene concentrates.
About Lithium
Lithium is a soft silvery-white metal which is highly reactive and does not occur in nature in its elemental form. In nature it occurs as compounds within hard rock deposits (such as Arcadia) and salt brines. Lithium and its chemical compounds have a wide range of industrial applications resulting in numerous chemical and technical uses. Lithium has the highest electrochemical potential of all metals, a key property in its role in lithium-ion batteries.
Caution Regarding Forward-Looking Information
This announcement may contain some references to forecasts, estimates, assumptions and other forward-looking statements. Although the Company believes that its expectations, estimates and forecast outcomes are based on reasonable assumptions, it can give no assurance that they will be achieved. They may be affected by a variety of variables and changes in underlying assumptions that are subject to risk factors associated with the nature of the business, which could cause actual results to differ materially from those expressed herein. All references to dollars ($) and cents in this announcement are in United States currency, unless otherwise stated.
Investors should make and rely upon their own enquiries before deciding to acquire or deal in the Company’s securities.
Prospect Resources Limited | ACN 124 354 329 | W: prospectresources.com.au | Phone: +61 8 9217 3300 Suite 6, 245 Churchill Ave. Subiaco WA 6008 | Email: [email protected]
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