Prospect Resources Limited (ASX: PSC), a battery minerals company, lately announced that Reserve bank of Zimbabwe has given US$10,000,000 export finance facility to its 70% subsidiary, Prospect Lithium Zimbabwe (PVT) through CBZ Bank Limited.
Export Finance facility is carrying an interest rate of 7.5% with 12-months capital repayment holiday. After 12 months, the monthly capital repayments will be made for 24 months. Export finance facility’s purpose is to increase the development of existing and new export focused businesses which are situated in Zimbabwe. Funds which are drawn from the facility are going to be used to meet the local costs on the mine development. Mine development includes the construction of the tailing facility, construction of building and pre-strip of the mine site.
This loan is seen as another building block of the Arcade Lithium Mine’s financing and it is a proof of the government’s support. Company is planning to participate in number of various investor and trade events to promote Prospect, Arcadia and Zimbabwe. Company’s Stock price rose 3.846% on 14 September 2018.
PSC shares traded at $.027 with market capitalization of 51.51 million as on 14 September 2018 (AEST: 2:00 PM).
The Income available from dividends remains attractive for many investors.
We take a look at the best yields on the market and assess what they say about a company’s prospect.
One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”
ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.
Click here to get your free report.
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.