David Broomfield

Prospect Resources has announced a Share Purchase Plan (SPP) which offers existing shareholders the opportunity to acquire up to A$30,000 worth of new shares without incurring brokerage fees.

The company is aiming to raise A$2 million before costs which will be used to advance exploration and development activities at the company's Mumbezhi Copper Project in Zambia.

The SPP follows the recently completed A$8 million institutional placement, with both initiatives aiming to bolster the company's growth strategy.

Eligible shareholders for the SPP include existing Prospect Resources shareholders with registered addresses in Australia or New Zealand, excluding US residents.

Applications can be made for new shares in A$1,000 increments, with a maximum investment of A$30,000 per shareholder.

The SPP is open for applications until September 4th, 2024.