PROSPECT Resources Limited chief executive officer Sam Hosack has relocated to Zimbabwe permanently, signalling a strategic shift in the company's focus towards its African operations.
From his new base, Hosack will spearhead the development of the recently acquired Mumbezhi Copper Project, a flagship asset situated in the Zambian Copperbelt, as the firm ramps up efforts to tap into the region’s vast copper potential.
The company has also appointed Ian Goldberg to the board as executive director finance, with effect from July 8, 2024.
“Ian has been a key member of Prospect’s senior management team for over three years now,” Prospect non-executive chairperson Mark Wheatley said in a market update.
“Through this period, he has been instrumental in delivering outstanding outcomes, including the successful sale of Arcadia and expansion of our exploration and development asset portfolio.
“With Sam now permanently based in Zimbabwe, Ian’s appointment and expanded role brings greater efficiency to the delivery of corporate services across the company.
“With all historical drill data now validated and drilling at Mumbezhi set to commence shortly, we are excited to bring the full weight of our team’s capabilities towards rapidly advancing this huge opportunity.”
Goldberg has been Prospect’s chief financial officer (CFO) and joint company secretary since February 2021.
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He played a crucial role in the advancement of the Arcadia lithium project, most particularly during the strategic financing process.
Supported by his guidance and expertise, Arcadia was successfully sold to Zhejiang Huayou Cobalt in April 2022 for US$378 million in cash.
He is a chartered accountant with more than 20 years of senior finance and commercial mining experience.
He has previously held the role as CFO in operating mining businesses across Africa and Australia, where he has led several mining projects through the securement of project financing and development into profitable commercial operations.
Goldberg will head up the Perth office and his role has been expanded to include corporate development with David Broomfield, corporate development manager, who will now report directly to him.
Prospect last month said its Step Aside lithium project in Zimbabwe had reached a critical milestone, positioning it for monetisation.
The potential revenue from this project, according to Hosack, is expected to support the exploration and development of the priority Mumbezhi Copper project in Zambia.
Prospect is focused on the exploration and development of mining projects, specifically battery and electrification metals, in Zimbabwe, Zambia and Namibia and the broader sub-Saharan African region.
