Pioneer to raise capital

DataRoom: Junior miner launches convertible notes offer amid difficult environment.

Mining explorers are being forced to become ever more innovative in the search for funding to keep drilling, with an equity raising in the current environment seen as a last and very dilutive resort.

To that end, Kalgoorlie-region focused gold and nickel junior Pioneer Resources (PIO) is trying to raise $2 million of exploration funds through convertible notes secured against repayments due from its neighbour, KalNorth.

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