Prospect Resources (PSC) Q1 2027 TU earnings summary

Executive summary

• Phase 3 drilling extended Nyungu Central copper mineralisation beyond the May 2026 MRE, defining a south-east growth zone that remains open. 

• Mumbezhi’s May 2026 MRE totals 208.1 Mt @ 0.42% Cu (0.49% CuEq), containing 877 kt Cu; Scoping Study remains on track for Q1 2027.

Financial highlights

• Quarter-end cash and cash equivalents were A$28.93m, plus A$5.0m in a 12-month term deposit; debt was zero, excluding typical trade creditors.

• Operating cash outflow was A$1.47m and investing cash outflow A$6.386m; Mumbezhi exploration spend was A$6.03m.

• Cash flow report estimated 3.86 quarters of funding available, based on quarter-end cash and relevant outgoings.

Outlook and guidance

• Mumbezhi Scoping Study expected to be completed and released in Q1 2027; work includes resource infill, pit optimisation and metallurgical studies.

• Phase 3 programme expanded to ~32,000m of diamond, RC and scout aircore drilling, including ~22,000m of diamond drilling.

• Four rigs were operating; one rig each was planned to transition from Nyungu Central and Kabikupa to Chipimpa and Kamafamba during October.