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Prospect pockets funds for Arcadia lithium offtake

PROSPECT Resources has completed a A$10 million placement with China’s Sinomine to support an amended US$557 million, offtake agreement for the first seven years of production from Arcadia in Zimbabwe, which could be Africa’s largest lithium mine.

Haydn Black
Arcadia.

Arcadia.

The placement, which has seen Sinomine issued 167.7 million shares in the Australian junior, was revised up from A5c to 6c to match a recent $10 million placement made by Prospect.   Sinomine will...

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