Seeking Alpha

Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
My blog:
  • Pioneer Resources Mulls Funding Option For Western Australia Drilling Program 0 comments
    Sep 18, 2013 2:39 AM

    Pioneer Resources (ASX: PIO) has advised that while it is indeed considering a convertible note to bring forward major current and deferred payments, the proposal is still being evaluated.

    The company stressed that while it continues to assess a number of potential funding options, it has not made a decision on any specific funding or capital management initiative.

    Such a note, if it proceeds, would effectively bring forward the $2.3 million in payments due to the company from KalNorth Gold Mines (ASX: KGM) in March 2014 and 2015.

    "The company is about to embark on a drilling program at the Golden Ridge Nickel and Acra Gold Projects; and additional funds secured at this time would enable the Company to fast‐track its exploration programs, whilst ensuring a strong underlying cash position," managing director David Crook said.

    Pioneer had cash reserves of $2.49 million as of 30 June 2013.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.