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Prospect Resources Limited (ASX:PSC)

ALERT: Price-sensitive ASX Announcement for PSC
Current share price for PSC : $0.200 -0.04 (-16.67%)+
Announcement
Release
29 Jul 2026 8:31AM
Price at Release
$0.240
Full Release
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Summary
Prospect Resources Limited reported significant developments in its Mumbezhi Copper Project in Zambia for the quarter ending June 2026. The company announced an updated Mineral Resource Estimate (MRE), showing a 20% increase in tonnage, with notable enhancements in copper and gold content. Exploration and drilling activities have identified new zones of copper mineralisation at West Mwombezhi, with potential expansions. Additionally, there is an increasing focus on the by-product potential of gold at the Nyungu Central deposit. The company also conducted metallurgical testwork at Kabikupa, yielding high-quality copper concentrates, and continues to evaluate the recovery of gold and cobalt. Financially, Prospect Resources ended the quarter with a cash balance of approximately A$36.6 million.
Key Points
  • Updated Mineral Resource Estimate shows 20% increase in tonnage.
  • Significant enhancements in copper and gold content.
  • New zones of copper mineralisation identified at West Mwombezhi.
  • Focus on by-product potential of gold at Nyungu Central.
  • High-quality copper concentrates from Kabikupa metallurgical testwork.
  • Evaluation of gold and cobalt recovery continues.
  • Cash balance of A$36.6 million at quarter-end.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.