Prospect Resources Limited is pleased to announce that it has received binding commitments from new and existing institutional and sophisticated investors for an equity placement to raise A$45 million via the issue of approximately 118.4 million shares. I would like to thank existing shareholders and new investors who participated in the placement for their backing. The Placement comprises:An unconditional tranche to raise approximately A$38.2 million via the issue of approximately 100.5 million New Shares, to be issued under the Company’s existing placement capacity via ASX Listing Rules 7.1 and 7.1A (Unconditional Tranche). New Shares issued under the Placement will rank pari passu with existing Prospect ordinary shares. Mumbezhi Phase 3 drilling programmeProspect plans to commence its Phase 3 drilling programme at Mumbezhi in Q2 2026.

Source: The North Africa Journal February 16, 2026 14:12 UTC