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Prospect lists in Frankfurt

20th September 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Lithium developer Prospect Resources has announced a dual listing on the Frankfurt Stock Exchange, with the ASX-listed company to trade under the code 5E8.

MD Sam Hosack on Friday said that the Frankfurt listing would expand Prospect’s investor reach and increase its exposure to European markets, which is one of the largest regions consuming ultralow iron petalite.

“Prospect now has access to new clients and capital markets and will gain greater liquidity and exposure to many more retail and institutional investors. This also places us in the European region that is home to some of the largest glass and ceramic end-user customers.”

Hosack said that Europe was a core region in Prospect’s capital market and product marketing strategy, with the Frankfurt listing also overcoming time differences and accounting issues for European retail investors.

Prospect is developing the Arcadia lithium project, in Zimbabwe.

A 2017 prefeasibility study estimated that the project could produce 75 000 t/y of spodumeme concentrate, ramping up to 123 000 t/y and 155 000 t/y petalite concentrates and 88 000 t/y tantalite concentrates over the life of the mine.

The project is estimated to have a 15-year mine life.

Edited by Creamer Media Reporter

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