Prospect Resources Limited

Prospect Resources Limited (ASX: PSC, FRA:5E8) is an Australian-based mineral exploration and development company focused on opportunities in future-facing electrification and battery metals. Prospect holds strategic interests in two quality projects across sub-Saharan Africa. An 85% ownership position in the Mumbezhi Copper Project in Zambia and 100% ownership of the Omaruru Lithium and Rubidium Project in Namibia. This southern African portfolio of exploration and development assets offers an excellent opportunity for further resource discoveries and a good base from which to grow substantial value for its shareholders./p>

Management Profile

Sam Hosack, Managing Director

Mr Hosack is a proven senior mining executive with over 20 years’ experience within the global resources sector. He joined Prospect in 2018 and was instrumental in leading the advancement, feasibility evaluation, early piloting operations and subsequent strong value realisation of the Arcadia Lithium Project in Zimbabwe via its cash sale to Huayou Cobalt in 2022. Prior to joining Prospect, Mr Hosack held senior managerial and operations roles over +12 years at leading global miner, First Quantum Minerals Ltd. This included lead project management of major infrastructure construction for the Minera Panama Project, including a copper and coal handling port facility, 128km transmission line and 300MW power station. His broader project development, mining and operations experience encompasses northern, central and southern Africa, Europe, Australia and Central America. Mr Hosack holds a Bachelor of Engineering (BEng Hons) from Essex University, Master of Business Administration (MBA) from Ashcroft Business School (UK), AICD accreditation and relevant professional registrations.

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Publication of an updated copper Mineral Resource estimate for Mumbezhi in Q1 2026, with Phase 3 Drilling commencing in Q2 2026 (resource infill and extensive regional exploration across the licences), completion of metallurgical test work studies and commencing an internal Scoping Study.

6 Months:

Continued drilling and technical studies.

12 Months:

Publish Independent Scoping Study (H2 2026) and further copper Mineral Resource estimation update.

What do you think makes your company such a compelling investment?

The Prospect management team possesses deep, proven expertise in efficiently exploring for, rapidly advancing and successfully delivering world-class mineral projects in Africa. This team is based across Perth, Western Australia, Lusaka, Zambia and Harare, Zimbabwe, and is applying its specialist skillset to identifying, acquiring, progressing and developing value-accretive critical minerals projects, particularly Mumbezhi in the Zambian Copper Belt. The Company has a proven track record of providing substantial shareholder value generation through the systematic de-risking and advancement of the world-class Arcadia Lithium Mine Project from 2016 to early 2022. The Arcadia Project was subsequently sold to Zhejiang Huayou Cobalt in April 2022 for approximately US$378 million. The Company is now focused on the exploration and development of the Mumbezhi Copper Project which continues to deliver promising exploration and development drilling results and significant regional copper potential on the large licence holding in Zambia.