Here is my research and why I absolutely believe that Wimmer Financial LLP is in talks with Prospect Resources to finance $200 Mio. for our Arcadia lithium mine.
With all respect to the five other lithium companies I have compared with Prospect Resources, only for my personal research.
1. Bikita Minerals
The only lithium (petalite) producer in Zimbabwe for the glass and ceramic market.
It seems to be a private company and there are not many informations (no feasibility studies...) to be found about this company.
"Bikita Minerals is currently proving up a Spodumene resource with the goal of producing an NI43-101 compliant resource before the end of 2018."
"I cannot disclose how much Bikita Minerals will make after the anticipated surge in output because this is a private company."
https://bikitaminerals.com/
https://www.herald.co.zw/bikita-minerals-ramps-up-lithium-production/
2. Premier African Minerals LON
REM
PREM has some projects including the Zulu lithium project in Zimbabwe with a scoping study of November 2017 and capital costs of
US$ 64 Mio. They are progressing their DFS.
PREM announced on 28 May 2019 that they terminated the drilling contract with KME and reopening its discussions held with the previous drilling contractor.
https://www.premierafricanminerals.com/
https://polaris.brighterir.com/public/premier_african_minerals/news/rns_widget/story/r71z51r
3. Zimbabwe Mining Development Corporation (ZMDC)
ZMDC is a state owned company with a lot of projects and minerals. They own the Kamativi Tin Mines Ltd which was closed a long time ago because of the tin prices. In 2016 ZMDC did geological drillings at the Kamativi project and found out that there are also another minerals there, more lithium than tin.
Zimbabwe Mining Development Corporation (ZMDC) and the Zimbabwe Lithium Company (see number 4) have entered into a joint venture agreement for the development of lithium tailings deposit at Kamativi Mine.
http://www.zmdc.co.zw/about-us
https://www.newsday.co.zw/2018/02/zlco-zmdc-kamativi-joint-venture/
4. Zimbabwe Lithium
Zimbabwe Lithium is a development company with their flagship project, the Kamativi Tailings Lithium Project (joint venture with ZMDC).
NI 43-101 resource estimate: Completed Q3 2018
$9.5 Million off-take funding Term Sheet signed December 2018 for Ph 1 DMS Plant
Phase 1 Estimate production start Q3 2019
BFS to be completed on 400 tph* DMS / Flotation Plant: Q3 2019
Phase 2 investment cost estimated at ~$23M* for a 400 tph* DMS / Flotation Plant, including infrastructure upgrades. Low estimated CAPEX due to brownfield site benefits.
Closing of project financing (Debt & Equity) and begin procurement of 400 tph* DMS / Flotation Plant: Q3 2019
https://www.zimlithium.com/
5. Lithium Consolidated ASX:Li3
Lithium Consolidated is an ASX listed exploration company with projects in Mozambique, Zimbabwe, Western Australia and Nevada.
They are in the very beginning stage with their Zimbabwe lithium project to start their Phase 1 drilling in Q1 2020.
https://li3limited.com/
Well, do your own research, but from what I have found so far, if I would be Wimmer Financial LLP I definitely would invest in Prospect Resources.
The only company I would think that could be in the race as well would be Bikita Minerals, because they already produce and I have not found any newer information about the company. The other ones are not that advanced as PSC or need way less CAPEX than PSC and the mentioned $200 Mio.
If the $200 Mio. are US Dollars, that makes around 288 Mio. AUD. Since we need "only" 163 Mio. (minus US$10m funding commitment on placement of ball mill) it would be great to have reserves and/or to further develope the strategy with a DFS for lithium carbonate/hydroxide.
Prospect’s Managing Director, Mr Hosack, said “The Arcadia Lithium Project is a top ten global hard rock lithium asset with strong project economics. It is shovel ready and we are currently sourcing funding to allow us to commence development".
Less then two weeks till the Extraordinary General Meeting on 11 June 2019. It would be great if the Wimmer deal would be announced around this time with a trading halt.
Good luck to all.
This is my personal opinion only and it is not financial advice. Do your own research.
