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2026-11-06
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Prospect Resources Limited

Scoping Study Developer · Copper · Zambia · Namibia Rating locked: sign in to view v6.2
Last 2026-11-06
A$0.25
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$209.3M
EV
A$167.8M
Cash
A$36.6M
Debt
A$42K
4 newer ASX announcements not yet reflected in this valuation

Narrative and provenance

Research & Sources

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Chronological evidenceSource-document inventory21 documents
Annual Report to shareholdersOperations · HighExtracted

Audited FY2026 baseline updates management, cash, liabilities, conditional arrangements, and Omaruru permit/disposal status. Date-only web release time is conservatively rolled to next trading day. Web filing supplied release date only; the required time field uses a conservative 23:59 AEST date-only placeholder, with next-session effective date.

Document ID
annual-20260924
Published UTC
2026-09-24T13:59:00Z
Projects
mumbezhi · omaruru
Commodities
copper · cobalt · gold · lithium
Open original source ↗
PSC ASX ordinary share local historical closeMarket Data · HighExtracted

Latest eligible local close selected by miners.reference_price from data/asx_mining_companies.db: market data provider via miners.collect_stock_prices; ASX ordinary security, AUD 0.21 close and 26,179 shares volume. No external quote substituted.

Document ID
market-price-20260925
Published UTC
2026-09-25T06:00:00Z
Projects
—
Commodities
—
Open original source ↗
Nyungu Central Phase 3 Drilling Further ExpandedOperations · HighExtracted

Latest drilling adds copper intersections outside the current resource; Sharamba initial assays confirm a new copper discovery. Company guides the formal Scoping Study to Q1 2027. Web filing supplied release date only; the required time field uses a conservative 23:59 AEST date-only placeholder, with next-session effective date.

Document ID
drilling-20260917
Published UTC
2026-09-17T13:59:00Z
Projects
mumbezhi
Commodities
copper
Open original source ↗
Application for quotation of securities - PSCCorporate Action · HighExtracted

2,091,228 additional shares issued from service rights and option exercises; latest quoted and unquoted security table.

Document ID
quote-20260917
Published UTC
2026-09-17T07:08:00Z
Projects
—
Commodities
—
Open original source ↗
Application for quotation of securities - PSCCorporate Action · HighExtracted

Further rights conversions bring ordinary shares to 835,299,705. Web filing supplied release date only; the required time field uses a conservative 23:59 AEST date-only placeholder, with next-session effective date.

Document ID
quote-20260910
Published UTC
2026-09-10T13:59:00Z
Projects
—
Commodities
—
Open original source ↗
Notification of cessation of securities - PSCCorporate Action · HighExtracted

1,082,109 performance rights lapsed after unmet conditions.

Document ID
cessation-20260902
Published UTC
2026-09-02T08:23:00Z
Projects
—
Commodities
—
Open original source ↗
Application for quotation of securities - PSCCorporate Action · HighExtracted

325,611 rights converted; ordinary shares rose to 833,063,238. Web filing supplied release date only; the required time field uses a conservative 23:59 AEST date-only placeholder, with next-session effective date.

Document ID
quote-20260901
Published UTC
2026-09-01T13:59:00Z
Projects
—
Commodities
—
Open original source ↗
Quarterly Activities and Cashflow Report Jun 2026Operations · HighExtracted

Latest resource, metallurgy, Phase 3 programme, cash, debt and capital-structure evidence through June 2026.

Document ID
quarter-20260729
Published UTC
2026-07-28T22:31:14Z
Projects
mumbezhi · omaruru
Commodities
copper · gold · cobalt · lithium
Open original source ↗
Notification of cessation of securities - PSCCorporate Action · MediumExtracted

Lapse of conditional options, reducing the fully diluted security count without changing ordinary shares.

Document ID
cessation-20260714
Published UTC
2026-07-14T07:28:47Z
Projects
—
Commodities
—
Open original source ↗
Application for quotation of securities - PSCCorporate Action · MediumExtracted

Quotation after option exercises and the latest ordinary-share count before the cutoff.

Document ID
quote-20260710
Published UTC
2026-07-10T02:33:53Z
Projects
—
Commodities
—
Open original source ↗
Prospect Resources Corporate PresentationPresentation · MediumExtracted

Corporate overview of resource scale, metallurgy, infrastructure and planned Scoping Study timetable.

Document ID
presentation-20260623
Published UTC
2026-06-22T22:16:08Z
Projects
mumbezhi
Commodities
copper · gold · cobalt
Open original source ↗
Application for quotation of securities - PSCFinancing · MediumExtracted

Quotation of the conditional placement tranche and resulting issued capital.

Document ID
quote-20260521
Published UTC
2026-05-21T08:02:14Z
Projects
—
Commodities
—
Open original source ↗
Argonaut Gold Boost to Resource UpgradeOther · MediumExtracted

Latest accessible broker research is issuer-hosted Argonaut note dated May 2026; its hypothetical mine plan predates a company Scoping Study and is used only as a debate check.

Document ID
argonaut-20260520
Published UTC
2026-05-19T23:00:00Z
Projects
mumbezhi
Commodities
copper · gold · cobalt
Open original source ↗
Quarterly Activities and Cashflow Report Mar 2026Operations · HighExtracted

March-quarter resource expansion, ownership increase, placement-funded programme and updated liquidity.

Document ID
quarter-20260423
Published UTC
2026-04-22T22:31:47Z
Projects
mumbezhi · omaruru
Commodities
copper · gold · cobalt · lithium
Open original source ↗
Acquisition of Additional 5% Interest in Mumbezhi CompletedTransaction · HighExtracted

Completion of the additional 5% Mumbezhi acquisition, taking Prospect's ownership to 90%.

Document ID
ownership-complete-20260326
Published UTC
2026-03-25T22:25:33Z
Projects
mumbezhi
Commodities
copper
Open original source ↗
Half Yearly Report and AccountsResults · HighExtracted

Reviewed half-year accounts, pre-placement liquidity, project carrying values and subsequent financing and ownership events.

Document ID
half-20260312
Published UTC
2026-03-11T22:32:03Z
Projects
mumbezhi · omaruru
Commodities
copper · lithium
Open original source ↗
Prospect to Increase Ownership of Mumbezhi Copper ProjectTransaction · HighExtracted

Binding agreement to acquire an additional 5% of Mumbezhi for US$4.25 million, subject to conditions.

Document ID
ownership-20260305
Published UTC
2026-03-04T22:49:33Z
Projects
mumbezhi
Commodities
copper
Open original source ↗
Quarterly Activities and Cashflow Report Dec 2025Operations · MediumExtracted

Phase 2 drilling completion, target generation, cash runway and December capital structure.

Document ID
quarter-20260127
Published UTC
2026-01-26T21:24:13Z
Projects
mumbezhi · omaruru
Commodities
copper · lithium
Open original source ↗
Quarterly Activities and Cashflow Report Sept 2025Operations · MediumExtracted

September-quarter drilling progress, liquidity and issued-capital update.

Document ID
quarter-20251027
Published UTC
2025-10-26T21:32:08Z
Projects
mumbezhi · omaruru
Commodities
copper · lithium
Open original source ↗
Annual Report to shareholdersResults · HighExtracted

Audited FY2025 financials, project ownership, tenement schedule, securities and contingent Mumbezhi milestone consideration.

Document ID
annual-20250929
Published UTC
2025-09-28T22:18:01Z
Projects
mumbezhi · omaruru
Commodities
copper · lithium
Open original source ↗
Mumbezhi Mineral Resources Exceed 500kt Contained CopperResource Update · HighExtracted

Maiden JORC resource for Nyungu Central and Kabikupa, later superseded by 2026 estimates.

Document ID
mre-20250311
Published UTC
2025-03-10T22:27:52Z
Projects
mumbezhi
Commodities
copper
Open original source ↗
Evidence facts68
mre-2025-tonnesMaiden Mumbezhi resource tonnage

107200000 tonnes

2025-03-11
mre-2025-gradeMaiden Mumbezhi copper grade

0.5 % Cu

2025-03-11
mre-2025-copperMaiden contained copper

514600 tonnes Cu

2025-03-11
cash-20250630Cash and cash equivalents

21062000 AUD

2025-06-30
mumbezhi-contingent-2500000Conditional Mumbezhi milestone payment

2500000 AUD

2025-06-30
tenements-mumbezhi-2025Mumbezhi mining licence identifiers

39445-HQ-LML and 39465-HQ-LML None

2025-06-30
cash-20250930Quarter-end cash

12726000 AUD

2025-09-30
runway-20250930Estimated quarters of funding

1.6 quarters

2025-09-30
shares-703633427Ordinary shares on issue

703633427 shares

2025-10-27
cash-20251231Quarter-end cash

10412000 AUD

2025-12-31
runway-20251231Estimated quarters of funding

3.01 quarters

2025-12-31
shares-705076726Ordinary shares on issue

705076726 shares

2026-01-27
ownership-consideration-usdAdditional 5% acquisition cash consideration

4250000 USD

2026-03-05
ownership-target-90Ownership after completion

90 %

2026-03-05
cash-half-20251231Cash and cash equivalents

10263000 AUD

2025-12-31
exploration-assets-20251231Exploration and evaluation expenditure asset

28839000 AUD

2025-12-31
placement-45mSubsequent equity placement gross proceeds

45000000 AUD

2026-02-16
ownership-completed-90Completed Mumbezhi ownership

90 %

2026-03-26
ownership-paid-usdCompleted acquisition cash consideration

4250000 USD

2026-03-26
cash-20260331Quarter-end cash

33734000 AUD

2026-03-31
term-deposit-20260331Term deposit outside reported cash balance

5000000 AUD

2026-03-31
runway-20260331Estimated quarters of funding

13.14 quarters

2026-03-31
mre-feb2026-copperFebruary 2026 contained copper

772000 tonnes Cu

2026-02-09
argonaut-first-productionArgonaut assumed first copper production

FY2032 None

2026-05-20
argonaut-peak-copperArgonaut modeled peak copper production

50000 tonnes/year

2026-05-20
placement-shares-17888561Conditional placement shares quoted

17888561 shares

2026-05-21
placement-price-038Conditional placement issue price

0.38 AUD/share

2026-05-21
shares-831910141Ordinary shares after quotation

831910141 shares

2026-05-21
met-recovery-freshNyungu Central fresh copper recovery

96.2 %

2026-06-23
met-recovery-transitionNyungu Central transition copper recovery

81.4 %

2026-06-23
scoping-targetTargeted Scoping Study window

Q4 2026 to Q1 2027 None

2026-06-23
shares-832737627Ordinary shares after quotation

832737627 shares

2026-07-10
exercise-shares-827486Ordinary shares quoted from option exercises

827486 shares

2026-07-10
options-lapsed-789979A$0.16 options lapsed

789979 options

2026-06-16
options-nil-lapsed-396000Nil-exercise-price options lapsed

396000 options

2026-06-16
dilutive-securities-47073726Unquoted options and rights after cessations

47073726 securities

2026-07-14
mre-2026-tonnesCurrent Mumbezhi resource tonnage

208100000 tonnes

2026-05-20
mre-2026-gradeCurrent Mumbezhi copper grade

0.42 % Cu

2026-05-20
mre-2026-copperCurrent contained copper

877100 tonnes Cu

2026-05-20
mre-2026-cobaltCurrent contained cobalt

43500 tonnes Co

2026-05-20
mre-2026-goldCurrent contained gold

262100 ounces Au

2026-05-20
cash-20260630Cash and cash equivalents

36616000 AUD

2026-06-30
term-deposit-20260630Twelve-month term deposit outside reported cash

5000000 AUD

2026-06-30
debt-20260630Debt

0 AUD

2026-06-30
runway-20260630Estimated quarters of funding

9.73 quarters

2026-06-30
phase3-metresPlanned Phase 3 drilling

26000 metres

2026-06-30
ordinary-20260901Ordinary shares after rights conversion

833063238 shares

2026-09-01
rights-converted-20260901Performance rights converted

325611 shares

2026-08-26
rights-lapsed-20260826Short-term incentive rights lapsed

1082109 rights

2026-08-26
ordinary-20260910Ordinary shares after rights conversion

835299705 shares

2026-09-10
rights-converted-20260910Performance and service rights converted

2236467 shares

2026-09-04
ncmd33-intervalNCDD033 copper intersection

27m at 0.69% Cu from 102m None

2026-09-17
phase3-holes-20260917Nyungu Central Phase 3 diamond holes completed

29 holes

2026-09-17
priority-assays-20260917Priority resource-extension assays pending

16 holes

2026-09-17
scoping-2027q1Scoping Study company guidance

Q1 2027 None

2026-09-17
ordinary-20260917Quoted ordinary shares

837390933 shares

2026-09-17
unquoted-20260917Unquoted options and rights

41338311 securities

2026-09-17
annual-cash-20260630Audited cash and equivalents

36616000 AUD

2026-06-30
annual-investment-20260630Short-term investment

5000000 AUD

2026-06-30
annual-loss-2026FY2026 after-tax loss

-7918000 AUD

2026-06-30
annual-exploration-2026FY2026 exploration and evaluation spend

12168000 AUD

2026-06-30
annual-mumbezhi-capitalizedMumbezhi capitalized exploration balance

36815000 AUD

2026-06-30
annual-contingent-finePossible maximum Zambian regulatory fine

421500 AUD

2026-06-30
annual-orpheus-contingentConditional Orpheus milestone payment

2500000 AUD

2026-06-30
annual-stepaside-contingentConditional Step Aside disposal payment receivable

1200000 USD

2026-06-30
annual-phase3-metresExpanded Phase 3 drill campaign

32000 metres

2026-09-24
price-20260925PSC ASX ordinary share close

0.21 AUD/share

2026-09-25
volume-20260925PSC ASX ordinary share volume

26179 shares

2026-09-25
Conflicts requiring judgment3
  • ordinary shares on issue

    The 10 July Appendix 2A is later and incorporates intervening option exercises, so 832,737,627 is the selected ordinary-share count.

  • Mumbezhi mineral resource estimate

    The May 2026 estimate reported in the June quarterly supersedes the March 2025 maiden estimate and includes later drilling and re-assaying.

  • Phase 3 drill programme metres

    July quarterly cited about 26,000m; September release documents expanded work at Nyungu Central and annual report cites about 32,000m. Use latest programme and avoid summing nested targets.