First Quantum invests $15.2m into Prospect

Copper 360 rejigs debt as benefits from producer status

NORTHERN Cape junior copper producer Copper 360 has restructured R276.6m of short-term debt into long-term debt cutting the interest rate it is paying by more than 50%. According CEO Shirley Hayes, “the restructuring of the short-term debt into long-term debt at more favourable interest rates strengthens Copper 360’s balance sheet significantly and is an important advancement as we mature into a sustainable, steady-state copper producer.” Hayes …

Prospect secures $9.5m from First Quantum for Mumbezhi Copper Project in Zambia

Prospect Resources has signed an investment agreement with copper miner First Quantum Minerals (FQM) to raise approximately A$15.2m ($9.5m).The post Prospect secures $9.5m from First Quantum for Mumbezhi Copper Project in Zambia appeared first on Mining Technology.

First Quantum Invests in Prospect Resources

First Quantum Minerals, a global copper miner, is strategically investing $15.2 million in Prospect Resources to bolster exploration efforts at the Mumbezhi Copper Project in Zambia. This investment involves First Quantum acquiring 101.06 million shares at $0.15 per share, a 36% premium over the previous closing price, securing a 15% stake in Prospect Resources and the right to appoint a board member. Prospect Resources will allocate at least US…

Prospect Resources secures $15.2 million to advance Mumbezhi copper project

Prospect Resources is set to receive a $15.2 million cornerstone investment from global copper miner First Quantum Minerals in return for a 15% shareholding. Prospect expects the investment will help advance its Mumbezhi copper project in north-west Zambia, with the Canadian producer to act as a key technical partner alongside Prospect’s main exploration team. Mumbezhi …

First Quantum Drives Exploration in Zambia with strategic investment in Prospect Resources

FIRST Quantum Minerals announces a strategic investment in Prospect Resources the Australian-based battery and electrification metals developer. This is according to a statement issued by Langmead & Baker Ltd. Prospect’s principal focus is advancing the Mumbezhi Copper Project in north-western Zambia, around 25km south-east of First Quantum’s Trident combined project (Sentinel and Enterprise mines in […] The post First Quantum Drives Exploration…

First Quantum invests $15.2m into Prospect

Shares in West Perth-based junior Prospect Resources rose by 30 per cent early on Tuesday, following news of a $15.2 million investment from major copper player First Quantum Minerals.