PSC - Prospect Resources

[Joe Blow]

Ethan Minerals Limited (ETH) is an Australian based company focusing on exploration for base and precious metals deposits in Western Australia. The company is concentrating on the Northhampton Project.

http://www.ethanminerals.com.au

 

[springhill]

The securities of Prospect Resources will be reinstated to official quotation at the commencement of trading on Thursday 19 July 2012, following effectuation of the deed of company arrangement and completion of a capital raising.

The capital structure of the Company is as follows
Total Shares on Issue: 372,593,287
Total Options on issue: 72,559,000

Exploration assets
The Company’s exploration assets comprise: a 100% interest in one exploration licence, an 80% interest in a further 3 exploration licences and 5 Mining Access Agreements to 6 Queen Victoria Crown Grants as well as two mining applications pending.
The Company’s most developed asset and lead prospect is the historical Mary Springs Mine (100% owned by the Company, tenement E66/56). As announced to the market on 25 October 2010, the Mary Springs project hosts a JORC compliant Indicated and Inferred Mineral Resource of 394,419 tonnes @ 6.5% Pb for approximately 25,637 tonnes of contained lead metal. The resource is open in all directions.

Future Exploration Activities of the Company
The Company intends to continue minerals exploration over its existing fully and partly owned Exploration Licenses and those licenses the subject of mining access agreements (Northampton Project). This contiguous project area of approximately 900km² is surrounding the town of Northampton, Western Australia. All the licences are accessible via a network of public and private roads. Historical reports and production figures indicate over 100 historical base metal workings within the Northampton mineral field.

Other opportunities
The Company intends to maintain an active program of identifying additional mineral projects that are in line with the Company’s strategy and that complement the existing tenement portfolio of the Company.

WARNER HUGH + DIANNE CBM S/F A/C 32,300,000 8.67%
2 ELLIOT HLDGS PL CBM FAM A/C 27,000,000 7.25%
3 HOLLOWAY COVE PL HOLLOWAY COVE S/F 23,900,000 6.41%
4 UNITED EQUITY PTNRS PL POLYCORP FAM A/C 21,000,000 5.64%
5 LEILANI INV PL RICE FAM INV A/C 15,000,000 4.03%
6 AUVEX MANGANESE LTD 10,773,037 2.89%
7 TALLTREE HLDGS PL NERD FAM S/F A/C 10,000,000 2.68%
8 TALLTREE HLDGS PL D STEINEPREIS FAM 9,000,000 2.42%
9 POLFAM PL POLLAK S/F A/C 8,333,333 2.24%
10 STEINEPREIS LINDA LOUISE 5,000,000 1.34%
11 COWARD CARL PHILIP M 5,000,000 1.34%
12 WALL STREET NOM PL A T BRENNAN S/F A/ 5,000,000 1.34%
13 N & J MITCHELL HLDGS PL ORD STREET PROPS A 5,000,000 1.34%
14 PAVLOVICH DANNY ALLEN PAVLOVICH FAM A/C 5,000,000 1.34%
15 SAMLISA NOM PL 5,000,000 1.34%
16 PAGANIN DAVID ARTHUR DA PAGANIN FAM NO2 5,000,000 1.34%
17 STEINEPREIS ROGER RC STEINEPREIS FT 5,000,000 1.34%
18 SYNCOPATED PL 5,000,000 1.34%
19 CHRISTIAN ROGER 5,000,000 1.34%
20 PAGINAN DAVID DA PAGANIN FAM NO2 5,000,000 1.34%


David and Linda Steinepreis show up in the register of so many restructured companies I look at. Obviously he, and Gary are involved with Ascent Capital.
http://www.ascentcapital.com.au/people.htm

I'm just amazed at how many pies they have their fingers in. There are other names in that list, that are synonymous with the Steinepreis name too.

Some directorship information on David. This doesn't include his London based roles.
http://www.zoominfo.com/#!search/profile/person?personId=2134780&targetid=profile
http://www.zoominfo.com/#!search/profile/person?personId=972260148&targetid=profile
http://www.zoominfo.com/#!search/profile/person?personId=1225323839&targetid=profile
http://www.zoominfo.com/#!search/profile/person?personId=1218791936&targetid=profile
http://www.zoominfo.com/#!search/profile/person?personId=1640404717&targetid=profile

 

[pixel]

Mention the word "Lithium", and the Market goes berserk.
Today, they also mention "God's Gift" - must refer to Robert Mugabe, being located just hundred miles outside Harare. Never mind the background noise: The chart says it's broken out of the latest Darvas Box, which I anticipated and bought early. As long as it stays above, I shall enjoy the ride.

 

[trillionaire#1]

I think i sold out a little early with this one last week.
Still profit is profit
Always hard to predict the wild price swings with these little stocks

 

[greggles]

PSC's share price has been creeping up recently. At the end of June it was 2c and today it is at 4.8c.

A lot of small cap miners have been seeing some positive share price movement in the last few months. Maybe it's just the stocks I've been noticing but there appears to be signs of a turnaround in the sector. Interesting times.

 

[Trav.]

Trialing some new software and I still have my training wheels on so bear with me as I post a few charts and hopefully I can get 1 or 2 predictions correct

Lithium...is it time for PSC to shine ???

It appears that Wave 2 is complete and SP is about take off ( up 8% today ) with plenty of more potential for more.

Coming out of oversold area and looks good

 

[Dona Ferentes]

movement at the station

Raised $6.5 million in placement in April
Pilot plant up and running
High value petalite - a lithium aluminium phyllosilicate mineral LiAlSi4O10
Open pit near surface mining
40km from Harare, Zimbabwe

Measured to a 1% cut-off, the Arcadia project has a high grade JORC mineral resource of 43.2 million tonnes at 1.45% lithium oxide and 119 parts per million tantalum pentoxide for 61.5 million tonnes of lithium oxide and 11.3 million pounds of tantalum pentoxide.

The project’s DFS was updated in 2019, outlining a low-cost project with a pre-tax internal rate of return of 71% and payback within 18 months of first production.

The DFS mapped an estimated 15.5-year initial mine life – a substantial project of note in a country that has changed (or so they claim). The recent Investor Presentation talks of

• Significant positive momentum in the last 12 months
• Sharply lower inflation and relative currency stability
• Government and policy transparency.

But the most recent prospectus can't avoid the fragility of Zimbabwe political, legal and economic systems. Yes, the government wants growth but the tack record hasn't been great.

 

[Dona Ferentes]

was doing quite well, from 15c to 75c in the last six months, but has eased off a bit since the recent Ann, 22/11. Now 66c.

Here is an update on the current strategic partnership process for its 87%-owned Arcadia Lithium Project (Arcadia), as previously announced on 23 August 2021.

Following a period of engagement (including data room access and site visits) with interested parties, over the past week, Prospect has received seven non-binding proposals for the advancement of Arcadia from a range of international parties, encompassing structures including development joint venture, offtake prepayment debt funding and outright acquisition of Prospect’s interest in Arcadia.

 

[greggles]

Prospect Resources inks earn-in agreement with Osino Resources Corp. to acquire stake in Omaruru Lithium Project in Namibia.

Phase one consists of a US$560,000 cash payment to acquire 20% and a commitment to spend a further US$440,000 on the Project within 1 year to earn an additional 20%.

After Prospect has completed Phase 1 and proceeds to Phase 2, Prospect will commit a further US$560,000 within a 12-month period for in-ground exploration to reach 51% ownership in the Project.

After securing 51%, further development funds are to be contributed on a pro-rata basis. If a party does not contribute their pro rata share, their shareholding will be diluted. The minority Shareholder will dilute to 15% and then such interest shall be free carried at the 15% level through to completion of the DFS.

Hard to say what this project will add up to but the market seems to think the deal is good with PSC up 11.7% today. 51% for US$1,560,000 could end up being a good deal depending on what the drilling finds.

 

[Dona Ferentes]

still pottering around Africa .
.
Acquisition of advanced copper-cobalt project in Zambia

HIGHLIGHTS:
▪ Two concurrent agreements executed over the large-scale Mumbezhi Copper Project located in the Zambian Copperbelt, a prized geological jurisdiction.
▪ Prospect has successfully unlocked this disputed and potentially world-class copper-cobalt asset by securing binding agreements with the parties involved and releasing its latent prospectivity.
▪ Subject to satisfaction or waiver of all Conditions Precedent, Prospect has agreed to:
▪ Acquire an 85% interest in Mumbezhi from current owner, Global Development Cooperation Consulting Zambia Limited, for approx. US$5.5 million in cash and US$1m Prospect scrip (priced at a 20% premium to 5-day VWAP upon all CPs being satisfied).
▪ Pay approx. $1 million in Prospect scrip plus options to Orpheus Uranium Limited (ORP) as reimbursement of select exploration costs on Mumbezhi, with ORP agreeing to withdraw all legal claims to the exploration licence and share all historical geological and mining data pertaining to the Project.
▪ Upon definition of a JORC-reportable Mineral Resource exceeding 500,000 tonnes of contained copper metal, Prospect has also agreed to a milestone payment of $2.5 million cash to ORP.
▪ The area covered by the Project was previously explored by ORP for approx. 10 years, primarily on the Nyungu deposits (being part of the Project), but the exploration work also identified substantial further prospectivity across several other defined depositson the area.
▪ The Mumbezhi tenure had significant drilling completed by ORP, with a combined 50 RC and diamond drill holes undertaken for approx. 9,330 metres.
▪ Numerous economic and near-surface drilling intercepts have been returned from the Nyungu deposits from previous work, demonstrating the potential for a low-cost open pit mine development to be delivered from this under-explored copper and cobalt asset.
▪ The Project is surrounded by several world-class copper mines including Sentinel and Kansanshi, operated by First Quantum Minerals, and Lumwana, owned by Barrick Gold.
▪ Prospect is well capitalised to rapidly advance this flagship Project with $21m (US$13.7m) cash.

 

[debtfree]

From Market Index

Prospect Resources shares more than doubled in early April after the company announced the acquisition of an advanced copper-cobalt project in Zambia. "Prospect has successfully unlocked this disputed and potentially world-class copper-cobalt asset by securing binding agreements with the parties involved and releasing its latent prospectivity," the company said in a statement.
It's interesting to see Managing Director Samuel Hosack purchase $503,498 worth of shares after the price spike.