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Prospect Resources (ASX:PSC) - Managing Director, Sam Hosack - The Market Herald
Managing Director, Sam Hosack
Source: Finance News Network
  • Prospect Resources (PSC) has announced its Arcadia Mine has achieved lithium to iron ratios that are suitable for the premium glass and ceramics market
  • Inductively coupled plasma results confirmed the spodumene product achieved 6.1 per cent lithium dioxide and 0.18 per cent iron oxide
  • Meanwhile, the petalite flotation product achieved 4.5 per cent lithium dioxide and 0.02 per cent iron oxide
  • The positive results give Prospect the chance to sell an ultra-low spodumene and petalite blended product
  • Furthermore, the lithium developer expects to achieve premium prices as it plans to customise the blend for each customer's needs
  • Company shares have dropped 7.14 per cent and are trading for 13 cents

Prospect Resources (PSC) has announced its Arcadia Mine has achieved lithium to iron ratios suitable for the premium glass and ceramics market.

Pleasingly, analysis of the inductively coupled plasma (ICP) results confirmed the spodumene product achieved 6.1 per cent lithium dioxide and 0.18 per cent iron oxide, and the petalite flotation product achieved 4.5 per cent lithium dioxide and 0.02 per cent iron oxide.

The African lithium developer claims there are few mines in the world that are able to supply the premium-priced, ultra-low iron market for spodumene or petalite.

"The opportunity for Prospect to produce a technical grade ultra-low iron blended product of Arcadia spodumene and petalite, has the potential to deliver a fit for purpose product for glass ceramics customers and achieve higher sales prices across Arcadia's lithium products," Managing Director Sam Hosack said.

Achieving an iron oxide level of 0.18 per cent places Arcadia's spodumene as one of the lowest iron products in the world. Importantly, this grading is similar to Talison Lithium's Greenbushes Mine.

The results give Prospect the chance to sell an ultra-low iron spodumene and petalite blended product into the glass and ceramics market.

Further, the company believes it has the means to sell at a premium price as it specifically customises the blended product for each customer depending on their requirements.

The company will now focus on understanding the positive impact of Arcadia's economics, potentially increase revenue and upgrade the ore reserve, as well as see to a potential increase in Arcadia's mine life.

Company shares have dropped 7.14 per cent and are trading for 13 cents each at 11:24 am AEST.


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