Prospect Resources (PSC) H2 2025 earnings summary

Executive summary

• Achieved significant progress in advancing battery and electrification metals projects, with a focus on copper in Zambia, highlighted by the rapid development of the Mumbezhi Copper Project and a maiden resource estimate of 107Mt at 0.5% Cu for Nyungu Central and Kabikupa deposits.

• Secured two large-scale mining licences for Mumbezhi, providing 25 years of tenure security, and received ESIA approval, enabling full-scale mining and processing operations.

• Attracted a $15.2 million strategic investment from First Quantum Minerals for a 15% stake, enhancing technical and financial capacity for project development.

• Raised additional equity, including $8 million to advance Mumbezhi and $3.3 million from Eagle Eye Asset Holdings and First Quantum Minerals.

Financial highlights

• Reported a net loss after tax of $8.12 million for FY2025, compared to a $7.02 million loss in FY2024.

• Revenue from continuing operations was $200,000, down from $801,000 in the prior year.

• Cash and cash equivalents increased to $21.1 million as of 30 June 2025, up from $8.3 million.

• Exploration and evaluation expenditure rose to $22.1 million, reflecting increased activity at Mumbezhi.

Outlook and guidance

• Focus remains on rapid development of the Mumbezhi Copper Project, with ongoing and future drilling campaigns targeting resource expansion.

• Commercialisation strategies are being pursued for non-core lithium assets, with a sales process underway for the Step Aside project.

• The company aims to be a leading explorer and developer of electrification minerals in sub-Saharan Africa.