Australian-listed Prospect Resources is seeking to sell its 100%-owned Omaruru Lithium Project in Namibia after receiving non-binding offers from potential buyers.
According to the company’s FY2026 annual report, Prospect received non-binding offers from two external parties in March 2026 to acquire its entire interest in Richwing Exploration (Proprietary) Limited, the wholly owned subsidiary through which it holds the Omaruru project.
Two revised non-binding offers were subsequently received on 31 July 2026, although the company said final commercial terms relating to any additional payment were still being refined.
“In March 2026, the Group received non-binding offers from two external parties to acquire the Group’s 100% interest in Richwing, which will include the disposal of this project. The revised non-binding offers were received on 31 July 2026,” the company said.
The Omaruru project, held under Exclusive Prospecting Licence (EPL) 5533, was valued at US$2.383 million, approximately N$39.1 million, as at 30 June 2026, compared with US$2.346 million a year earlier.
The project accounts for a relatively small portion of Prospect’s US$39.198 million in total exploration and evaluation expenditure, with most of the company’s expenditure allocated to its Mumbezhi Copper Project.
Meanwhile, the renewal of EPL 5533 remains pending. Prospect submitted its renewal application in October 2025, ahead of the licence’s 12 February 2026 renewal date, but had not received confirmation of approval as at 30 June.
“The renewal application was submitted in October 2025, which was well within the required timeframe, and the approval confirmation is outstanding as at 30 June 2026,” the company said.
Prospect said its directors had assessed the tenure position and, based on the status of the renewal process and ongoing engagement with the relevant authorities, were satisfied that the company continued to hold the rights required to conduct exploration activities.
The FY2026 annual report did not disclose new exploration results or a mineral resource
