Ann: Market Update to Sinomine Transaction, page-33

I did some quick copy/paste.

PSC now has an asset(Arcadia) worth around $201m for spending approx. $8m. It can now develop this asset(with Sinomine) under the new gov't following removal of Indigenization rules (except diamonds and platinum)


PSC owns 63%(Farvic owns 27% and Examix 10%) of Arcadia, 63% of NPV $319 = $201m
Net Operating Cashflow (Total for all activities): 29/7/16 to 31/1/18: $7.2m
14/6/16: Option Exercise The Company is pleased to report that it has exercised its option to acquire 90% of the high grade Arcadia Lithium Project via its 70% owned subsidiary, Hawkmoth Mining & Exploration Pvt Ltd.
12/5/16: Details of the Option Agreement The Company has acquired a 2 month option to acquire, via its 70% owned Zimbabwe subsidiary Hawkmoth Mining & Investment (Pvt) Ltd, a 90% interest in the Arcadia V claim and the mineral claim applications comprising the Arcadia Camp in consideration of US$10,000. A further US$40,000 is payable on exercise of the option. After exercise of the option, the Company has 48 months to make a decision to mine and will free carry the vendor until a decision to mine is made by Prospect.
In May 2016 Prospect Resources entered into an agreement with Mr Paul Chimbodza who owned certain prospective lithium claims in the Arcturus area. These claims are now held under, Examix Investments P/L (t/a Zimbabwe Lithium Mining) a Zimbabwe Investment Centre approved mining company that holds both National Project Status and is part of the Government 100 days Rapid Results Initiative.

CAPE TOWN (Reuters) - Zimbabwe has the potential to be a leading producer of lithium, which has so far attracted more interest than any other of its minerals, Zimbabwe's new Minister of Mines and Mining Development Winston Chitando said on Tuesday.
He said he had last week reached a deal with a small listed company, which was expected to generate revenue of $1.4 billion over eight years from a lithium project.
Chitando took office after Emmerson Mnangagwa became president in November 2017 when the military took charge and Robert Mugabe resigned after 37 years in office.
To lure foreign investment into a mining sector that he says is under-capitalised and under-explored, Chitando has announced changes to mining laws, limiting indigenization rules that mandate majority ownership for the state to just diamonds and platinum.