Challenger Exploration (ASX:CEL)

$20m placement to accelerate South American gold projects.

Henslow acted as Co-Lead Manager for the $20m South American Gold Projects placement. The funds will help advance the high-grade Hualilan Gold Project in Argentina and El Guayabo Gold/Copper Project in Ecuador.

Becoming a globally significant gold producer through amplified exploration.

The company is developing two complementary gold/copper projects 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 CEL with 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.

The Highlights

  • $139.5m

    Market Capitalisation

  • ASX:CEL

    ASX Listed Company

Funds to expedite drilling programs, scoping studies and expansion

Henslow looks forward to strengthening its partnership with Challenger as they continue their Hualilan and Colorado V/El Guayabo drilling program.

Another great result from our flagship Hualilian Gold Project. The project continues to deliver excellent results as we step along strike and down dip to extend historical mineralisation.

Kris Knauer, Managing Director of CEL