Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Pioneer Resources Ltd To Increase Cash Ahead Of Lithium Exploration Program

Pioneer Resources Ltd (ASX:PIO) has recently secured itself as a front-runner into the lithium sector, and has proceeded with the Mavis Lithium Project acquisition, which is located in the Canadian province of Ontario.

Mavis has drill-ready spodumene pegmatites, a preferred lithium ore.

The 2016 drilling program will initially expand on intersections from 2011 and 2012, which demonstrated the presence of high-grade, well-evolved, lithium bearing pegmatites, before moving on to new targets.

Pioneer is now heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

The halt will remain in place until the opening of trade on Monday 27th June 2016, or earlier if an announcement is made to the market.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.