Prospect Resources to Raise Mumbezhi Copper Project Ownership to 90%
Prospect Resources Limited (ASX: PSC) has announced an agreement to increase its ownership in the Mumbezhi Copper Project located in north-western Zambia. Through its subsidiary, the company plans to acquire an additional 5% interest in the project from Global Development Cooperation Consulting Zambia Limited for US$4.25 million. After the completion of the transaction, Prospect’s stake will rise from 85% to 90%, strengthening its control over the copper asset. The deal remains subject to several conditions, including regulatory approvals and shareholder consent. Completion is anticipated in April 2026. The company recently secured AU$45 million through an equity placement, which will support further exploration and development activities. Prospect is preparing to begin Phase 3 drilling in early Q2 2026 following the end of the wet season. The upcoming programme will focus on extensive drilling aimed at expanding the project’s resource base and advancing the development potential of the Mumbezhi copper deposit.
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Prospect Resources to Raise Mumbezhi Copper Project Ownership to 90%
Prospect Resources Limited (ASX: PSC) has announced an agreement to increase its ownership in the Mumbezhi Copper Project located in north-western Zambia. Through its subsidiary, the company plans to acquire an additional 5% interest in the project from Global Development Cooperation Consulting Zambia Limited for US$4.25 million. After the completion of the transaction, Prospect’s stake will rise from 85% to 90%, strengthening its control over the copper asset. The deal remains subject to several conditions, including regulatory approvals and shareholder consent. Completion is anticipated in April 2026. The company recently secured AU$45 million through an equity placement, which will support further exploration and development activities. Prospect is preparing to begin Phase 3 drilling in early Q2 2026 following the end of the wet season. The upcoming programme will focus on extensive drilling aimed at expanding the project’s resource base and advancing the development potential of the Mumbezhi copper deposit.
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