Pioneer Resources Ltd pockets cash for Kalgoorlie gold and...

Pioneer Resources Ltd pockets cash for Kalgoorlie gold and Canadian lithium

Thursday, March 24, 2016 by

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Pioneer Resources Ltd pockets cash for Kalgoorlie gold and Canadian lithium
Pioneer Resources Ltd (ASXIO) has had its placement snapped up as the company progresses a dual strategy on two of the hottest commodities in the market.

The placement was made to clients of Sanlam Private Wealth, Bell Potter Securities Limited and other investors.

Total shares were 161 million at $0.01 to raise $1,610,000 before costs.

Funds will be substantially directed to exploration programs at the Mavis Lithium Project in Ontario, Canada and the Acra Gold Project near Kalgoorlie in Western Australia, as well as providing working capital.

David Crook, managing director, commented:

“On behalf of the board I welcome the new shareholders who participated in this offer, and extend our appreciation to all shareholders for their on-going support, as we advance the company’s exploration assets.”