Just a little reminder
http://www.prospectresources.com.au/sites/default/files/asx-announcements/6878292.pdf
Highlights:
• Completion of placement to Sinomine of A$10,000,000 at 6c per share
• Amended US$557 million offtake agreement signed with Sinomine Resource for approx. 70% of Phase 1 production over 7 years
• Repricing of spodumene and petalite formula resulting in a projected US$61m increase in Project NPV to US$401m
• Sinomine Resource to make an additional US$10,000,000 prepayment under offtake agreement
• Prospect takes back control of build and finance timetable
Prospect is pleased to announce that certain terms under the conditional offtake agreement between Prospect and its Zimbabwean subsidiary, Examix Investments (Pvt) Limited (the Seller) and Sinomine Resource have been favourably renegotiated in respect of the spodumene and petalite pricing formula such that the NPV of the Arcadia Lithium Project located in Zimbabwe (the Project) has increased by US$61m, from US$340m to US$401.5m
Undervalued, page-4
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