African Pioneer PLC Reports Annual Financial Results

African Pioneer PLC (GB:AFP) has released an update.

African Pioneer PLC, an exploration and resource development company operating in Namibia, Botswana, and Zambia, reports a loss of £689,213 for the year ended 31 December 2023, with consolidated net assets valued at £5,214,181. Despite the loss, the company has made significant progress, particularly in Zambia where it has four exploration licenses under an option agreement with First Quantum Minerals Ltd. In Namibia, the company reported an increased Indicated Mineral Resource Estimate in its Ongombo project, highlighting both open-pittable and inferred underground potential for copper and gold. The company’s shares are traded on the London Stock Exchange, and it has focused on advancing projects through exploration and technical studies, aiming to benefit from the forecasted increase in copper demand.

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