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    CEL   AU000000CEL8

CHALLENGER EXPLORATION LIMITED

(CEL)
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Challenger Exploration Limited entered into an agreement to acquire Package of Exploration Licences Adjacent to Hualilan Gold Project for $0.45 million.

10/25/2021 EST

Challenger Exploration Limited (ASX:CEL) entered into an agreement to acquire Package of Exploration Licences Adjacent to Hualilan Gold Project for $0.45 million on October 25, 2021. The concessions comprise five contiguous exploration licenses which are collectively called the Cordon del Pe?on tenements. Under the agreement Challenger Exploration has made an up front option payment of $0.007 million. Additionally, Challenger Exploration will make annual payments of $0.005 million and sole fund a minimum exploration program over the next 4 years required to keep the concession in good standing. This work program will be determined in consultation with the San Juan Mining Ministry, however Challenger Exploration anticipates that the acquisition of the ground magnetic data alone will exceed any required expenditure commitment over the next year. At any time prior to the 4 year period Challenger Exploration can, at its sole discretion, acquire 100% of the Cordon del Penon tenements for $0.45 million, payable $0.25 million in cash and $0.20 million in cash or CEL shares1 at Challenger's election. This ASX announcement was approved and authorised by the Board.


© S&P Capital IQ 2021
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Financials
Sales 2021 - - -
Net income 2021 0,60 M 0,42 M 0,42 M
Net cash 2021 44,0 M 30,9 M 30,9 M
P/E ratio 2021 275x
Yield 2021 -
Capitalization 283 M 198 M 198 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees 3
Free-Float 86,6%
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Mean consensus BUY
Number of Analysts 1
Last Close Price 0,29 AUD
Average target price 0,60 AUD
Spread / Average Target 107%
Managers and Directors
Kris David Knauer Chief Executive Officer, MD & Executive Director
Francis Scott Funston CFO, Secretary & Executive Director
Fletcher Christeson Quinn Non-Executive Chairman
Stuart Munroe Exploration Manager
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