On 12 February 2018, Prospect announced that it agreed to extend...

On 12 February 2018, Prospect announced that it agreed to extend the period to complete the proposed $10m placement to Sinomine Resource Exploration Co Ltd (Sinomine) to 31 March 2018. Prospect granted the extension at Sinomine’s request. As previously announced, Sinomine’s reason for requesting an extension was to allow for further time to discuss: 1) the terms of the Definitive Build and Transfer Contract and the Definitive Facility Agreement; and 2) the potential acquisition of the Arcadia lithium project, via either: a) an offer to acquire a minimum of 51% of Prospect; or b) an offer to purchase 100% of the Arcadia lithium project directly.