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Prospech Limited has completed the acquisition of a 51% interest in Bambra Oy, a Finnish company owning three significant mineral projects; the Korsnas and Jokikangas rare earth element projects, and the Saarenkylä lithium project.
The acquisition was earned through exploratory expenditures on the projects and the issuance of 1.5 million Prospech shares. Prospech also holds exclusive rights to fully acquire Bambra with additional expenditure and share issuance.
The acquisition has sharpened the focus of Prospech's exploration activities on minerals declared to be critical by the European Union, including rare earth elements, lithium, and other critical minerals, reinforcing the EU’s objective of self-determination in these resources.