- Prospect Resources (PSC) has entered a trading halt ahead of an upcoming capital raise
- Currently, it is unknown how much the company is aiming to raise or where the funds will be spent
- Company shares will be paused until Friday, April 16, or when more information about the raise is released to the market
- On the market, Prospect last traded at 18.5 cents per share on April 13
Prospect Resources (PSC) has entered a trading halt ahead of an upcoming capital raise.
So far, there are no details on how much the company is aiming to raise or where the funds will be spent.
Under the halt, company shares will be paused until Friday, April 16, or when more information about the raise is released to the market.
Prospect is a battery minerals company with a focus on lithium in and around Zimbabwe, which includes its flagship Arcadia project.
The company is aiming to build a pilot plant to rapidly move Arcadia through optimised feasibility and into development.
“Prospect is determined to deliver on a clear development pathway in as short a
timeframe as possible, whilst still ensuring that the technical and economic risks are fully understood and addressed,” Managing Director Sam Hosack said.
Last month, the company appointed Perth-based engineering consulting group, Lycopodium, to complete the feasibility study at the Arcadia Project.
Lycopodium is the perfect fit due to the parties past relationship and familiarity with the project.
“We believe that Lycopodium is the perfect partner for Prospect to align with on the Arcadia Project,” Sam explained to the market.
“Their broad capabilities, technical rigour, team of highly skilled engineers and designers and track record in Australia, Africa and Zimbabwe provide a highly valuable service offering to Prospect,” he added.
On the market, Prospect last traded at 18.5 cents per share on April 13.