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PROSPECT RESOURCES LIMITED — Capital/Financing Update 2020
Apr 26, 2020
65617_rns_2020-04-26_3e70316d-7f33-4fbe-ac5f-1459a247211d.pdf
Capital/Financing Update
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Prospect Resources extends MOU with Uranium One Group
African lithium developer, Prospect Resources Ltd (ASX: PSC, FRA:5E8) (“ Prospect ” or “ the Company ”) has agreed to a request by Uranium One Group JSC ( “Uranium One" ) to extend their exclusivity under the terms of the Memorandum of Understanding ( “MOU” ) to 10 August 2020.
The reason for the extension is the logistical challenges facing all companies during the COVID-19 lockdown.
The MOU and discussions are more fully described in the Company’s announcement of 12 December 2019.
Uranium One Group
Uranium One is a global energy company and one of the world’s largest uranium producers, with a diverse portfolio of assets worldwide, including in Kazakhstan, the United States and Tanzania. Uranium One is a company of ROSATOM, the Russian State Corporation for Nuclear Energy.
This release was authorised by Mr Hugh Warner, Executive Chairman of Prospect Resources Ltd.
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Africa’s leading Well positioned Strong Project Path forward to Offtake Agreement battery mineral Lithium Resource Economics Financing, in place and company in regard to both demonstrated in Development and positioned to Scale and Grade DFS Production capitalise on Market Demand
For further information, please contact:
Nicholas Rathjen General Manager, Corporate Affairs [email protected]
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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About Prospect Resources Limited (ASX:PSC, FRA:5E8)
Prospect Resources Limited (ASX:PSC, FRA:5E8) 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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