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Pioneer Resources attracts institutional and sophisticated investors to the Pioneer Dome

The capital raising attracted new institutional resource funds onto the register.
Pioneer Dome hosts a unique resource

Pioneer Resources Ltd (ASX:PIO) has completed a bookbuild and received commitments from institutional and sophisticated investors to raise $1.3 million before costs via a placement at $0.014.

Showing strong support, all directors of the company have committed to participate in the placement for a total of $245,000. A Share Purchase Plan (SPP) has also been launched.

Pioneer is now well-funded to advance the Pioneer Dome Project in Western Australia.

David Crook, managing director, commented:

"We are delighted with the response from investors to the company’s recent share placement, which we see as strong validation for development of the Sinclair Caesium Zone and our ongoing targeted exploration programs.

"In particular, we are very pleased to welcome multiple new institutional resource funds to our register.

"We are now pleased to offer the SPP to existing eligible shareholders on the same terms as the placement, providing the opportunity to increase shareholdings in the company as it enters a very exciting and active development and exploration phase."

Value drivers from the Pioneer Dome

Pioneer Dome is a unique asset and includes the Sinclair Caesium Zone, which was discovered in October last year.

It contains a Measured Resource of 10,500 tonnes of pollucite at 17.1% caesium oxide.

This is the world’s third largest known pollucite deposit, pre depletion of others.

Expressions of interest for off-take have already been.

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