Can Prospects AU$45 Million Placement Fast-Track Expansion at the Mumbezhi Copper Project?
Source: Kapitales Research
Highlights
Prospect Resources Limited (ASX: PSC) has secured binding commitments to raise AU$45 million at AU$0.38 per share.
Funds will support 50,000 metres of drilling across 2026–2027, targeting resource growth and regional exploration at Mumbezhi.
The recently updated Mumbezhi Mineral Resource stands at 173.8Mt @ 0.44% Cu (0.50% CuEq) for 772kt of contained copper.
Strong Institutional Backing to Accelerate Mumbezhi
Prospect Resources Limited (ASX: PSC) has completed a AU$45 million equity placement, issuing approximately 118.4 million new shares at AU$0.38 per share. The raising attracted participation from both domestic and offshore institutional investors, alongside existing shareholders.
The placement includes an unconditional tranche of approximately AU$38.2 million and a conditional tranche of AU$6.8 million subscribed by Eagle Eye Asset Holdings Pte Ltd, subject to shareholder approval. The issue price represents an 8.4% discount to the last traded price of AU$0.415 and a 12.7% discount to the 10-day VWAP of AU$0.435.
50,000m Drilling Campaign Planned
Proceeds will primarily fund an additional 50,000 metres of resource expansion and exploration drilling across 2026 and 2027 at the Mumbezhi Copper Project in north-western Zambia. The program will initially focus on extending and upgrading the flagship Nyungu Central deposit, where maiden cobalt and gold components have also been defined.
Phase 3 drilling is scheduled to commence in Q2 2026 and will also test high-priority regional targets including Chipimpa, Sharamba, Nyungu South and Kamafamba. Target generation is being supported by airborne geophysics, soil geochemistry, geological mapping, IP surveys, and first-pass aircore and RC drilling.
Advancing Toward Development Studies
In addition to drilling, funds will support metallurgical studies assessing gold and cobalt recoveries, completion of an internal Scoping Study in H2 2026, and progression toward a Pre-Feasibility Study targeted for H2 2027. The company is also allocating capital toward broader technical studies and business development initiatives in Zambia.
The updated Mumbezhi Mineral Resource estimate of 173.8Mt @ 0.44% Cu (0.50% CuEq) for 772kt of contained copper provides a foundation for further scale growth. Located within Zambia’s Central African Copperbelt and surrounded by established copper operations (as shown in the project map on page 3 of the announcement), Mumbezhi remains positioned within a globally significant copper jurisdiction.
With funding secured, Prospect is now positioned to accelerate resource growth and technical advancement at Mumbezhi over the next 18–24 months.
Disclaimer for Kapitales Research
The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
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Can Prospects AU$45 Million Placement Fast-Track Expansion at the Mumbezhi Copper Project?
Highlights
Strong Institutional Backing to Accelerate Mumbezhi
Prospect Resources Limited (ASX: PSC) has completed a AU$45 million equity placement, issuing approximately 118.4 million new shares at AU$0.38 per share. The raising attracted participation from both domestic and offshore institutional investors, alongside existing shareholders.
The placement includes an unconditional tranche of approximately AU$38.2 million and a conditional tranche of AU$6.8 million subscribed by Eagle Eye Asset Holdings Pte Ltd, subject to shareholder approval. The issue price represents an 8.4% discount to the last traded price of AU$0.415 and a 12.7% discount to the 10-day VWAP of AU$0.435.
50,000m Drilling Campaign Planned
Proceeds will primarily fund an additional 50,000 metres of resource expansion and exploration drilling across 2026 and 2027 at the Mumbezhi Copper Project in north-western Zambia. The program will initially focus on extending and upgrading the flagship Nyungu Central deposit, where maiden cobalt and gold components have also been defined.
Phase 3 drilling is scheduled to commence in Q2 2026 and will also test high-priority regional targets including Chipimpa, Sharamba, Nyungu South and Kamafamba. Target generation is being supported by airborne geophysics, soil geochemistry, geological mapping, IP surveys, and first-pass aircore and RC drilling.
Advancing Toward Development Studies
In addition to drilling, funds will support metallurgical studies assessing gold and cobalt recoveries, completion of an internal Scoping Study in H2 2026, and progression toward a Pre-Feasibility Study targeted for H2 2027. The company is also allocating capital toward broader technical studies and business development initiatives in Zambia.
The updated Mumbezhi Mineral Resource estimate of 173.8Mt @ 0.44% Cu (0.50% CuEq) for 772kt of contained copper provides a foundation for further scale growth. Located within Zambia’s Central African Copperbelt and surrounded by established copper operations (as shown in the project map on page 3 of the announcement), Mumbezhi remains positioned within a globally significant copper jurisdiction.
With funding secured, Prospect is now positioned to accelerate resource growth and technical advancement at Mumbezhi over the next 18–24 months.
Disclaimer for Kapitales Research
The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au