Australia's Prospect Resources gains on investment from First Quantum

ReutersApr 15, 2025 2:08 AM

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Shares of Prospect Resources PSC.AX rise 27.3% to A$0.140

Stock set for its strongest session since April 10, 2024, if current trends hold

Battery metals miner enters into investment agreement with copper miner First Quantum Minerals FM.TO to raise A$15.2 million ($9.63 million) by way of placement

Issue price of A$0.15 represents a premium of 36.4% to stock's last close

Says First Quantum to become a 15% stakeholder in PSC and aid in exploration of the Mumbezhi Copper Project in Zambia

About 1.6 mln shares traded in stock's busiest session since March 21

PSC up 48.4% YTD, including current session's moves

($1 = 1.5783 Australian dollars)

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