Prospect defers takeover deal

AUSTRALIAN Lithium miner, Prospect Resources, says it has deferred a planned takeover of Farvic Consolidated Mines’ equity stake in Arcadia mine to the end of this year.

Under the agreement inked about a year ago, Farvic will transfer its shares in the Zimbabwe-based mine to Prospect Resources.

Farvic is Prospect Resources’ partner in the Arcadia lithium project, one of the most promising investments in Zimbabwe, which is currently under development about 60 kilometres northeast of Harare.

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