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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.

Talk to the deal team

Justin Lewis

Managing Director
Melbourne, Australia
Oaklins Henslow

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