Prospect Resources Ltd. (AU:PSC) has released an update.
Prospect Resources Ltd has announced the signing of agreements to acquire an 85% interest in the Mumbezhi Copper Project in Zambia, a region known for its geological potential in copper-cobalt mining. The acquisition, costing approximately US$5.5 million in cash and additional Prospect scrip, positions the company to potentially develop a world-class, open-pit copper-cobalt mine. With $21 million in capital and the Project located near other major mines, Prospect Resources is poised to advance this flagship venture in a historically resource-rich jurisdiction.
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