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Prospect Resources Ltd

Prospect Resources Ltd's Hugh Warner acquires 1.5 million shares

Earlier in the week the company defined a maiden resource estimate of 36 million tonnes grading 1.17% lithium oxide.

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Warner now holds 128.7 million shares.

Prospect Resources Ltd's (ASX:PSC) executive chairman, Hugh Warner, has spent $45,000 on-market to acquire 1.5 million shares in the company.

Warner now holds 128.7 million shares, with several lines of listed options.

Earlier in the week the company defined a maiden resource estimate of 36 million tonnes grading 1.17% lithium oxide and 107ppm tantalum oxide at the Arcadia lithium project in Zimbabwe.

Work has already begun on a provisional mine plan, which will underpin the scoping study aiming for completion by the end of 2016.

At the time Warner commented: “This is a significant achievement and is just reward for the company’s strategy of acquiring, developing and running profitable mines in the Southern African region.”

Quick facts: Prospect Resources Ltd

Price: $0.11

Market: ASX
Market Cap: $25.95 m
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