CAPITAL MARKETS

Chinese backing for Prospect's Zimbabwe lithium

CHINESE company Sinomine International Exploration is backing ASX-listed Zimbabwe lithium contender Prospect Resources with a A$10 million equity investment also involving offtake rights covering the bulk of planned production in the first seven years of operation.

Michael Quinn
Chinese backing for Prospect's Zimbabwe lithium

Under a “placement and framework agreement” Sinomine will buy $10 million worth of shares priced at 5c per share, with Prospect agreeing to sell 390,000 tonnes of spodumene concentrate and 1.1 million...

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