Article

African Pioneer has successfully raised £1.8 million through an equity fundraising to advance its Ongombo and Ongeama copper/gold projects in Namibia, while also supporting working capital. The company plans to issue 200 million new shares at a 10% discount to the market price, with proceeds allocated for project activities and exploration efforts in Zambia and Botswana. Additionally, the fundraising may impact a concert party's shareholding, potentially triggering a mandatory takeover offer.