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Pioneer Lithium makes ASX debut following oversubscribed IPO

28th September 2023

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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Shares in lithium exploration and development company Pioneer Lithium started trading on the ASX on Thursday, following an oversubscribed initial public offering (IPO), raising $5-million.

Pioneer Lithium brings to the market a multi-asset portfolio of lithium projects in Canada – the Root Lake and Lauri Lake projects in Ontario, as well as the LaGrande project in the James Bay region of Quebec.

The company’s immediate focus is on the Root Lake project, which is directly between Green Technology Metals’ Root Bay and Morrison/McCombe lithium deposits, and its James Bay Quebec LaGrande project.

Pioneer is led by executive chairperson Robert Martin, who has significant experience in the Canadian lithium sector, and CEO Clinton Booth, who has more than 20 years’ experience in the mining sector, including senior positions with Fortescue Future Industries and Galaxy Resources.

The board includes former Pilbara Minerals executives Nigel Broomham and Gerard O’Donovan as nonexecutive directors, alongside Agha Shahzad Pervez.

“We are delighted to begin our journey as an ASX-listed lithium company, underpinned by an exceptional lithium portfolio in two of Canada’s most exciting mining provinces. The outstanding support we have seen from investors to the Pioneer IPO is testament to the quality of both the projects and the team we have assembled,” said Martin.

Booth added that he was excited to take up the opportunity to become CEO of Pioneer Lithium.

“The asset base which Pioneer has secured is second-to-none. The Root Lake project is one of the most strategic lithium assets I have ever seen in my career, being located between two existing deposits, with compelling potential for future exploration to extend this known lithium mineralisation onto Pioneer’s ground.

“Previous exploration has already confirmed the presence of high-grade spodumene mineralisation and we are looking forward to a period of significant news flow in the weeks and months ahead as our maiden exploration campaign ramps up.

“With a clear focus to become a developer and miner, we are looking forward to playing a significant role in the rapidly growing North American battery materials market.”

Edited by Creamer Media Reporter

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