Challenger Exploration Limited (AU:CEL) has released an update.
Challenger Exploration Limited has announced a Share Purchase Plan for Australian and New Zealand shareholders to buy up to A$30,000 worth of shares at a discounted price, the same rate as a new strategic investor placement aimed at funding its Hualilan project and Toll Milling operations. This move is expected to accelerate Challenger’s path to production by leveraging the high gold prices to generate early cash flow. The offer, which excludes brokerage and transaction fees, is part of Challenger’s broader strategy to commence Toll Milling of high-grade ore and further develop their Hualilan Project.
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