Skip to content
Business Company News, Oil Mining Resources

Challenger Gold Successfully Completes Share Purchase Plan, Raises $4 Million, Oversubscribed

Jane Morgan Management 2 mins read

Perth, Australia – 25 October 2024 | Challenger Gold Limited (ASX:CEL) ("Challenger" or "the Company") is pleased to announce the successful completion of its Share Purchase Plan (SPP), which closed significantly oversubscribed on the 18th of October, 2024. The SPP raised A$4 million, exceeding the original target of A$1 million, with strong support from already existing shareholders.

Highlights:

  • A$4 Million Raised: The SPP was originally intended to raise up to A$1 million through the issue of 22,222,223 new shares at A$0.045 per share. Due to overwhelming demand, the Company accepted A$4 million, resulting in the issue of 88,888,675 new shares. 

  • Oversubscription and Scale Back: The Company received total applications exceeding A$7.8 million. In compliance with ASX Listing Rules and the terms of the SPP, applications were scaled back on a pro-rata basis, with priority given to shareholders who demonstrated strong support. 

  • Capital Allocation: The funds raised will be directed towards the development of the Hualilan Gold Project, including the Toll Milling of high-grade ore. 

Next Steps:

The new shares under the SPP will be allotted today, 25 October 2024. Any surplus funds from the application will be refunded to shareholders.

For further information, please contact:

Kris Knauer
Managing Director
kris.knauer@challengerex.com

Jane Morgan
Investor & Media Relations
jm@janemorganmanagement.com.au


About us:

About Challenger Gold Limited:

Challenger Gold Limited is an Australia-based gold and copper exploration company. The Company’s projects include the Hualilan project, El Guayabo project, and Karoo Basin Gas project. The Hualilan project consists of 15 mining leases and an exploration licence application covering the surrounding area of approximately 26 square kilometres (km2). The Hualilan Project is located approximately 120 kilometres (km) north-northwest of San Juan, the capital of San Juan Province in north-western Argentina. The El Guayabo Gold/Copper project is located within the El Oro Province of southern Ecuador, approximately 35 Kilometres south southeast of Machala. The El Guayabo project comprises four contiguous tenement groups, the El Guaybo, El Guaybo 2, Cerro Pelado 1, 2, and 3 tenements, and Colorado V tenement. The Karoo Basin Gas project includes application for the Cranemere project, a shale gas prospect located in the Eastern Cape Province. The application covers approximately 3,500km2.


Contact details:

Jane Morgan 
Jane Morgan Management
Investor & Media Relations
jm@janemorganmanagement.com.au

Media

More from this category

  • Business Company News
  • 05/11/2024
  • 03:10
Source Intelligence

Source Intelligence Evolves With C-Map: Delivering Next-Generation SaaS Platform for Compliance & Sustainability

The platform delivers faster risk identification, seamless data access, and streamlined workflowsSAN DIEGO, CA / ACCESSWIRE / November 4, 2024 / Source Intelligence has evolved with C-Map, a next-generation software as a service (SaaS) platform that empowers enterprises to manage compliance and sustainability with greater efficiency. Designed to address the increasing complexities of today's regulatory landscape, this powerful platform combines robust automation capabilities, Artificial Intelligence (AI), and in-house regulatory expertise to help companies tackle increasing compliance demands and mitigate emerging risks.Source IntelligenceSource Intelligence's logo and tagline - "Trust Your Source" With regulations evolving faster than ever, compliance teams often struggle…

  • Business Company News, Oil Mining Resources
  • 04/11/2024
  • 13:48
Jane Morgan Management

American Rare Earths Congratulates Melissa Sanderson on Appointment as Co-Chair of the Critical Minerals Institute

Sydney, Australia – 4 November 2024 | American Rare Earths Limited (ASX:ARR | OTCQX:ARRNF | ADR:AMRRY) (“ARR” or “the Company”) proudly announces that Melissa Sanderson, a member of the Company’s Board of Directors, has been appointed Co-Chair of the Critical Minerals Institute (CMI). This prestigious role recognises her expertise in sustainable development and policy advocacy, aligning with ARR's commitment to establishing a resilient supply of rare earth elements (REEs) from North America Highlights: Strategic Leadership: Melissa Sanderson’s appointment as Co-Chair of the CMI underscores her influence in the critical minerals sector. Her leadership will bolster ARR’s advocacy for sustainable and…

  • Contains:
  • Business Company News, Oil Mining Resources
  • 04/11/2024
  • 13:24
Jane Morgan Management

Titan Minerals Commences 10,000m Growth Drilling Program at Dynasty Gold Project in Southern Ecuador

Perth, Australia – 4 November 2024 | Titan Minerals Limited (ASX:TTM) (“Titan” or “the Company”) is pleased to announce the commencement of a significant 10,000-metre diamond drilling campaign at its flagship Dynasty Gold Project in southern Ecuador. This drilling program aims to expand known mineral resources, as well as convert existing resource categories and test newly identified exploration targets across the project’s mineralised corridor. Highlights: Resource Growth Drilling Underway: The program will focus on extending resources laterally and at depth at the Cerro Verde and Iguana prospects. Exploration of New Targets: The campaign will include drilling at new exploration targets…

  • Contains:

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.