Prospect Resources shares firm

By ZBC Reporter

Zimbabwe is emerging as an investment destination of choice with Australian Stock Exchange listed Prospect Resources attracting more investors as a result of progress at its Arcadia Lithium Mine.

A research report compiled by prominent Australian broker, Foster Stockbroking states Prospect Resources shares are on an upward trend due to developments at its mine in Goromonzi.

The report attributes the rise in demand for the company’s shares to vast lithium deposits, and an anticipated increase in annual production.

It also notes that the vast assets and overall mineral deposits are indicators of positive investor’s sentiment.

Better cash-flows, lower unit costs and more efficient capital expenditure are also cited by the report as providing a huge boost to the share price of Prospect Resources.

According to the report Arcadia Mine is in a good position to attract further capital for funding the 220 million United States dollar plant constructions due to the attractiveness of the lithium asset.

Last week shareholders of the entity injected a further 15 million United States dollar capital into the project spurred by Arcadia’s status as one of the top five undeveloped hard rock lithium resource.

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