Challenger Exploration (ASX:CEL) has raised capital to expedite gold projects
Challenger Exploration (ASX:CEL) has raised US$14.1 million through the issue of 100 million shares. The share offer was strongly supported by domestic and international institutions and sophisticated investors with bids received for substantially more than the amount raised.
Challenger Exploration is focused on exploring and developing two advanced-stage projects located in South America. Led by an experienced management team, the company aspires to become a globally significant gold producer. The strategy for the Hualilan Gold Project is for it to provide a high-grade low CapEx operation in the near-term. This underpins Challenger Exploration with a low risk, high margin source of cash flow while it prepares for a much larger bulk gold operation in Ecuador. The company holds a 100% interest in the El Guayabo Project and 75% interest in the Hualilan Gold Project.
Oaklins’ team in Australia acted as co-lead manager in this transaction.
Talk to the deal team
Related deals
Winking Studios Limited completes a secondary fundraising of US$20 million
Winking Studios has successfully raised US$20 million to fund its business strategy and future plans, such as strategic acquisitions, alliances and joint ventures as well as secondary or dual listings, to grow the group’s market share and broaden its customer base globally.
Learn moreFRP Advisory Group plc has finalized a successful secondary placing
FRP Advisory Group plc has completed a fundraising. The book was oversubscribed and approximately £20.4 million (US$33 million) of shares were sold by certain directors and partners of FRP to new and existing institutional investors at 128 pence per ordinary share.
Learn moreKees Smit Tuinmeubelen has been acquired by Craft Capital
Kees Smit Tuinmeubelen, a leading family-owned omnichannel retailer of garden furniture and related accessories, has agreed to sell a majority stake to Craft Capital, a Netherlands-based investment firm. The transaction is still subject to fulfillment of customary closing conditions.
Learn more