Prospect raises $10m for Zimbabwe lithium mine development

Southern Africa-focused lithium and gold mining and exploration company Prospect Resources has raised $10-million before costs, through an oversubscribed share placement of 166-million shares at 6c apiece.

The ASX-listed company said on Wednesday that it would use the funds to accelerate the development of its flagship Arcadia lithium mine, near Harare, while focusing on progressing exploration at the Good Days lithium project, also in Zimbabwe.

The Perth-based company further intends to investigate and possibly acquire additional lithium and cobalt projects and supplement general working capital.-MiningWeekly

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