Challenger Exploration has raised US$32.8 million
Challenger Exploration (ASX:CEL) has completed a fundraising. The raise was strongly supported by domestic and international institutions, both new and existing, with a cornerstone investment from a globally renowned investor.
Challenger Exploration, led by an experienced management team, aspires to become a globally significant gold producer. The company is developing two complementary gold/copper deposits in South America. 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 with a low risk, high margin source of cash flow while, it prepares for a much larger bulk gold operation in Ecuador.
Oaklins’ team in Australia acted as joint lead manager to the raise.
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