Australia's Prospect Resources gains on investment from First Quantum
ReutersApr 15, 2025 2:08 AM
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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