Board Change • May 01
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Non-Executive Chairman Ken Wheatley was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Feb 16
Prospect Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 45 million. Prospect Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 45 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 118,421,053
Price\Range: AUD 0.38
Discount Per Security: AUD 0.0228
Transaction Features: Subsequent Direct Listing Board Change • Dec 24
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Non-Executive Chairman Ken Wheatley was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Oct 24
Prospect Resources Limited, Annual General Meeting, Nov 25, 2025 Prospect Resources Limited, Annual General Meeting, Nov 25, 2025. Location: at presidents room, the celtic club, 48 ord street, west perth wa 6005., Australia Duyuru • Jun 25
Prospect Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 18.487526 million. Prospect Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 18.487526 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 101,058,173
Price\Range: AUD 0.15
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 22,191,998
Price\Range: AUD 0.15
Transaction Features: Subsequent Direct Listing Duyuru • Apr 15
Prospect Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 18.487526 million. Prospect Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 18.487526 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 101,058,173
Price\Range: AUD 0.15
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 22,191,998
Price\Range: AUD 0.15
Transaction Features: Subsequent Direct Listing Board Change • Feb 04
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Non-Executive Chairman Ken Wheatley was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 24
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Non-Executive Chairman Ken Wheatley was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Nov 27
Prospect Resources Limited Announces Retirement of Zed Rusike as Non-Executive Director Prospect Resources Limited announced that Non-Executive Director, Mr. Zed Rusike, has advised he will be retiring from the Board. Mr. Rusike's retirement will be effective 26 November 2024, prior to the commencement of the AGM, following a well-planned transition. Zed was a founding director of Prospect and under his directorship, the Company acquired a portfolio of grassroots exploration assets comprising gold, rare earths and lithium. This led to the subsequent discovery and drill-out of the Arcadia Lithium Project, a global top ten hard rock lithium asset. Zed played a strategic role throughout Prospect's journey from discovery through to the eventual sale of Arcadia to Huayou Cobalt in 2022 and was instrumental in Prospect Resources establishing itself in Zambia as it went on to acquire the Mumbezhi Copper Project. Duyuru • Oct 28
Prospect Resources Limited, Annual General Meeting, Nov 26, 2024 Prospect Resources Limited, Annual General Meeting, Nov 26, 2024. Location: level 2, 40 kings park road, west perth wa 6005., Australia New Risk • Sep 23
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 19% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (AU$54.4m market cap, or US$37.1m). Duyuru • May 31
Prospect Resources Limited (ASX:PSC) completed the acquisition of 85% stake in Mumbezhi Copper Project from Global Development Cooperation Consulting Zambia Limited. Prospect Resources Limited (ASX:PSC) agreed to acquire 85% stake in Mumbezhi Copper Project from Global Development Cooperation Consulting Zambia Limited for $5.9 million on April 9, 2024. The consideration consists of $5.50 million in cash and $1 million in Prospect scrip. As part of the consideration, $6.50 million was paid towards assets. The acquisition is subject to several conditions precedent i.e., Prospect has completed the due diligence on the Mumbezhi Project, the Licence, GDC and Project Co and Prospect is reasonably satisfied with the due diligence results, the Licence and all statutory and regulatory permits and approvals relating to Mumbezhi are in good standing, Prospect and GDC agree the form of a shareholders agreement that will govern the affairs of Project Co, Ministerial Consent for the transfer of the Licence to Project Co; approval under the Competition and Consumer Protection Act in relation to the transfer of the Licence; property transfer tax clearance certificate for the transaction; GDC’s shareholders, as required under Section 87 of the Companies Act (Zambia); and o Prospect’s shareholder approval – if shareholder approval is required for the issue of the scrip component of the transaction consideration, Prospect will seek shareholder approval. In connection with the Mumbezhi acquisition, Prospect has entered into a consultancy agreement with Valentine Chitalu. Chitalu will assist Prospect with the completion of the Mumbezhi acquisition and to advise Prospect in relation to its broader operations and investments in Zambia. As of May 7, 2024, the transaction is expected to close in the end of May 2024.
Prospect Resources Limited (ASX:PSC) completed the acquisition of 85% stake in Mumbezhi Copper Project from Global Development Cooperation Consulting Zambia Limited on May 30, 2024. Consequent to the agreement with GDC, as previously announced, Prospect will proceed to: Transfer a cash consideration totaling $5.35 million; with US$150,000 already paid, for a total of $5.5 million, and Issued 7,014,590 ordinary shares in Prospect to GDC. Total consideration of cash and shares of $6.5 million. New Risk • May 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 19% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (2.0% increase in shares outstanding). Market cap is less than US$100m (AU$94.3m market cap, or US$62.5m). Recent Insider Transactions • May 04
Independent Non-Executive Chairman recently bought AU$156k worth of stock On the 30th of April, Mark Wheatley bought around 1m shares on-market at roughly AU$0.16 per share. This transaction amounted to 33% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth AU$503k. Mark has been a buyer over the last 12 months, purchasing a net total of AU$209k worth in shares. Recent Insider Transactions • Apr 17
MD, CEO & Director recently bought AU$503k worth of stock On the 15th of April, Samuel Hosack bought around 3m shares on-market at roughly AU$0.14 per share. This transaction amounted to 26% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Samuel has been a buyer over the last 12 months, purchasing a net total of AU$704k worth in shares. New Risk • Apr 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 19% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$60.2m market cap, or US$39.9m). Duyuru • Mar 21
Prospect Resources Limited (ASX:PSC) executed an agreement to acquire remaining 60% stake in Richwing Exploration (Pty) Ltd. from Osino Resources Corp. (TSXV:OSI) for $0.08 million. Prospect Resources Limited (ASX:PSC) executed an agreement to acquire remaining 60% stake in Richwing Exploration (Pty) Ltd. from Osino Resources Corp. (TSXV:OSI) for $0.08 million on March 21, 2024. Upon completion, Prospect will hold a 100% interest in Richwing. Duyuru • Oct 24
Prospect Resources Limited, Annual General Meeting, Nov 23, 2023 Prospect Resources Limited, Annual General Meeting, Nov 23, 2023, at 16:00 W. Australia Standard Time. Location: Level 2, 40 Kings Park Road West Perth Western Australia Australia Agenda: To receive and to consider the Annual Financial Report of the Company for the financial year ended 30 June 2023 together with the declaration of the Directors, the Directors' Report, the Remuneration Report and the Auditor's Report for that financial year; to consider Adoption of Remuneration Report; to consider directorate elections and reelections; to consider Approval of Future Issue of Securities; and to consider other matters. Duyuru • Oct 23
Prospect Resources Limited Announces Retirement of Henian Chen as Non-Executive Director Prospect Resources Limited advised that Mr. Henian Chen will not be standing for re-election as a Non-Executive Director at this year's Annual General Meeting. Mr. Chen will retire as a Non-Executive Director of the Company at the conclusion of the 2023 Annual General Meeting. Mr. Chen joined the Board in November 2017 and has served the company with distinction through various challenges and changed market conditions, ultimately leading to significant value creation for all shareholders. Duyuru • Sep 23
Prospect Resources Limited Announces Change of Joint Company Secretary Prospect Resources Limited announced that, following his resignation from the Automic Group, Mr. Lee Tamplin has resigned as the Company's Joint Company Secretary effective immediately. Mr. Tamplin will be replaced by his colleague at the Automic Group, Mr. Harry Miller. Mr. Miller has over 8 years of company secretarial and accounting experience, having previously worked with a leading global accounting firm and is currently acting as Company Secretary to a number of ASX listed companies. Mr. Miller joins existing Joint Company Secretary, Mr. Ian Goldberg, who is also the Company's CFO. For the purposes of ASX Listing Rule 12.6, both Mr. Miller and Mr. Goldberg are the person(s) responsible for communications between the Company and ASX. New Risk • Sep 08
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 23% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Revenue is less than US$5m (AU$5.1m revenue, or US$3.3m). Market cap is less than US$100m (AU$43.5m market cap, or US$27.7m). Recent Insider Transactions • Jun 22
Independent Non-Executive Chairman recently bought AU$53k worth of stock On the 19th of June, Mark Wheatley bought around 500k shares on-market at roughly AU$0.11 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Mark has been a net seller over the last 12 months, reducing personal holdings by AU$506k. Board Change • Apr 11
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Non-Executive Chairman Ken Wheatley was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
