Challenger Gold Limited (ASX: CEL) ('CEL' or the 'Company') is pleased to advise that it has successfully raised approximately A$30 million through the receipt of binding commitments for a single-tranche placement of 230,769,231 new fully paid ordinary shares ('New Shares') at an issue price of A$0.13 per New Share ('Offer Price') to institutional, sophisticated, and professional investors ('Placement').
The Offer Price represented a 7.1% discount to the last close of A$0.14 (22 October 2025) and 16.8% discount to the CEL 15-Day VWAP. The New Shares will be issued within the Company's existing placement capacity under ASX Listing Rules 7.1. Settlement of the Placement is expected to occur on Friday, 31 October 2025 and allotment and quotation is expected to occur on Monday, 3 November 2025.
Commenting on the Placement, CEL Managing Director, Kris Knauer, said: 'The A$30m placement has been strongly supported from existing and new institutional investors and will enable the Company to further accelerate studies on the upsized standalone development of Hualilan while also providing additional working capital for the ramp-up of Hualilan for toll-milling where first production is expected in January 2026. We believe the success of the Placement validates our strategy to generate near-term cash flow from Hualilan via toll-milling while simultaneously providing Challenger the runway to accelerate studies and drilling on an upsized standalone development of Hualilan. Challenger is an unhedged and fully financed gold developer with a clear and de-risked pathway to production in early 2026 his ASX announcement was approved and authorised by the Managing Director.
Contact:
Kris Knauer
Tel: +61 411 885 979
Email: kris.knauer@challengerex.com
Mr Sergio Rotondo
Tel: +61 413 867 600
Email: sergio.rotondo@challengerex.com
Jane Morgan
Tel: 61 405 555 618
Email: jm@janemorganmanagement.com.au
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