04:27 AM EDT, 07/30/2026 (MT Newswires) -- African Pioneer (AFP.L) signed a conditional definitive financing and technical services agreement with Hong Kong Xinhai Mining Services, according to a Thursday filing. The agreement is related to the exploration and resource development company's Ongombo and Ongeama copper projects in Namibia. The agreement outlines the establishment of a project holding company that will hold a 95% interest in the two projects. Hong Kong Xinhai will provide loan facilities to the new holding company to finance development milestones. The financier will be repaid through the issuance of shares in the holding company comprising up to a 74% stake.

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