Prospect fires the starter’s pistol on lithium play

|

Published 20-MAY-2016 13:57 P.M.

|

2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.


Click Here to View Latest Articles

Editor’s note: Prospect Resources is a very high risk stock. Getting mining projects up and running in countries such as Zimbabwe is no simple feat for political and social reasons, and there may be challenges ahead. You need to fully inform yourself of all factors and information relating to this company before engaging with it.

Prospect Resources (ASX:PSC) is getting serious on its lithium play in Zimbabwe – securing a diamond drilling rig for a July campaign.

The company told its shareholders ahead of a roadshow that it was planning on drilling 1500m in the form of 30 individual 50m holes in July and a further 1500m in September.

It’s more than a plan, though, with the company tapping Titan Drilling for the rig.

It effectively signals the first glimpse of the development plan on the asset, which it has an option on.

It announced that it had picked up the option on the Arcadia Project earlier this month, which has an initial exploration target of 15-18 million tonnes of pegmatite at 3-5% lithium oxide.

While there has been historical drilling on the permit, this was done before the JORC 2012 standard was in play and therefore PSC will need to do its own drilling to come up with a JORC Resource on the project.

PSC told shareholders at the time that intermittent production between 1954 and 1972 had produced over 15,000 tonnes of mixed lithium ore.

It also told shareholders today that it was on the lookout for additional lithium projects, looking at opportunities in Namibia and Mozambique in addition to other plays in the region.

On the gold front meanwhile, it said that development ore from its main Prestwood Mine was contiunuing to be stockpiled ready for processing.

It said the main drive at the mine was producing a diluted development ore grading at over 3 grams per tonne, with individual grades exceeding 10g/t.



General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.

 

Discover Small Cap
Biotech Stocks

Join thousands of other Investors following our stock commentary for Free

X