Pancontinental Uranium Corporation, a Canadian-based mining company, has obtained common share investment of A$1.2m ($m) from Sia Hok Kiang, an economic geologist with more than 30 years global experience.
The investment will be made in two tranches, each in August and September of 2013.
In addition, the company has stated that its joint venture partner Crossland Strategic Metals has appointed Kiang as Pancontinental’s director.
Pancon president and CEO Rick Mark stated that the addition of a new investor is a significant development for company’s Charley Creek Heavy(HREE) and Critical(CREE) REE project, located in the Northern Territory, Australia.
"Not only have Crossland confirmed a substantial investment to help move the project forward, they have added relevant experience and expertise in REE alluvial mining and marketing," added Mark.
Kiang is an active member of the Malaysian Geological Society and a Council Member of the Malaysian Chamber of Mines, the company said.