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 years1
• 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
Combined we would have $33 million in the bank.... based on a capex of 52 mill..... only 19mill short.... maybe the loan can help.
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- Ann: Completion of Placement and Sinomine Transaction
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