Prospect Resources Ltd. (AU:PSC) has released an update.
Prospect Resources Ltd has successfully acquired an 85% stake in the Mumbezhi Copper Project in Zambia’s Copper Belt, following the conclusion of agreements with Global Development Cooperation Consulting Zambia Limited and Orpheus Uranium Limited. The acquisition, costing a total of US$6.5 million in cash and shares, positions Prospect to explore and potentially develop a high-value, long-life copper-cobalt mining operation. The company is preparing to embark on initial drilling and metallurgical testing in the third quarter of 2024, leveraging Zambia’s favorable mining jurisdiction.
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