- Prospect Resources (PSC) has managed to position itself as the only company to produce low iron spodumene and ultralow iron petalite concentrates
- Petalite is an in-demand commodity due and it's primarily used in the production of glass and ceramics
- While spodumene can be used in the production of battery packs in electrical vehicles and for use in portable electronic devices (PED)
- Prospect owns 87 per cent of the Arcadia Project, which is Africa's most advanced lithium project and houses both concentrates
- The company recently signed a seven-year offtake agreement with leading industrial minerals company Sibelco
- It's also secured funding by appointing Afreximbank to arrange and syndicate a US$143 million project finance debt facility
- Shares in Prospect Resources are trading for 16.5 cents each
Dual ASX & FRA listed Prospect Resources (PSC) is in the enviable position of being one of the world leaders of petalite — an in-demand mineral which has uses across the glass, ceramics and electric vehicle markets.
The company's majority-owned Arcadia Project in Zimbabwe is regarded as a globally unique deposit, which can produce both ultralow iron petalite concentrate and low iron spodumene concentrate.
Arcadia is also at the exciting stage of being shovel-ready with a seven-year offtake agreement already in place, making the entire project primed for production.
Combined with a potential US$143 million debt facility (around A$199.15 million) for Arcadia, Prospect stands ready to take advantage of the growing lithium demand and petalite's unique properties.
