- Prospect Resources (PSC) has announced the completion of a direct optimised feasibility study for its Zimbabwean based Arcadia lithium project
- The study presented the construction of a 2.4 million tonnes per annum (Mtpa) nameplate plant in a single stage
- According to the announcement, the site has the potential to be a compelling long life, large scale, hard rock open pit mine
- Prospect shares are trading up 2.22 per cent at 69 cents a share
Prospect Resources (PSC) has announced the completion of a direct optimised feasibility study for its Zimbabwean based Arcadia Lithium project.
The study presented the construction of a 2.4 million tonnes per annum (Mtpa) nameplate plant in a single stage, it also provided capital efficiencies and improved economic returns relative to the OFS released in October.
External consultancy and engineering firm Lycopodium conducted the the study with a +/-12.5 percent overall Capex estimation accuracy.
According to the announcement, the project has the potential to be a compelling long life, large scale, hard rock open pit lithium mine.
The pit will mine lithium-caesium-tantalum pegmatite followed by processing through crushing, dense media separation, milling, froth flotation and magnetic separation to produce lithium and tantalum concentrates.
The pit is owned by PSC through its 87 per cent owned subsidiary Prospect Lithium Zimbabwe and is located some 40 kilometres from the Zimbabwean capital Harare.
“While these staged OFS presented a strong development case for Arcadia with a lower upfront capital requirement, the single-stage build to 2.4Mtpa was always expected to be more compelling in terms of capital and economic efficiencies. This expectation has been resoundingly validated by the outcomes of the direct OFS,” Prospect Managing Director Sam Hosack said.
“The direct OFS further enhances Arcadia’s positioning as one of the world’s premier hard rock lithium assets, with outstanding projected returns under a range of lithium price scenarios.
“It builds on the detailed technical assessments undertaken as part of the direct feasibility study (2019) and staged OFS (October 2021) in outlining a robust and highly attractive mine development case for Arcadia.”
Prospect shares were trading up 2.22 per cent at 69 cents a share at 10:44 am AEDT.