AIM-listed African Pioneer, an investment vehicle launched in July 2012, has joined the junior market and raised capital to fuel its development.
The company has a focus on base metals such as copper, nickel, lead and zinc in the African region. It is looking to develop a portfolio of ‘significant’ mineral prospectivity.
African Pioneer has also revealed that it will seek to raise additional finance prior to, or at the same time as, it carries out any substantial acquisitions or investment.
If the company has not made a ‘material investment’ within one year following admission to AIM, its directors intend to seek shareholder approval for the continuation of its investment strategy.