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Pioneer Resources shares continue upward momentum at the open

Published: 10:15 19 Oct 2017 AEDT

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Pioneer remains a very active explorer

Pioneer Resources Ltd's (ASX:PIO) shares have opened 4.4% higher at $0.024 this morning, with 1.8 million traded in the first 15 minutes.

Pioneer received an ASX speeding ticket yesterday in the form or a price and volume query, which noted the stock was up 37.5% to $0.022 over the past ten days.

The company replied that it was not aware of any reasons for the trading activity.

Shareholders who participated in the resent share purchase plan at $0.014 will be sitting on handsome paper profits.

The fundraising is designed to undertake additional exploration and drilling for caesium and lithium at the wholly-owned Pioneer Dome Project in Western Australia.

Funds will also be allocated to other projects such as the Kangan Project in the western Pilbara region.

READ NOW: Pioneer Resources eyes gold targets in West Pilbara sediments

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