Challenger Exploration (ASX:CEL) takes full-ownership of Hualilan
Source: Finance News Network
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Challenger Exploration (CEL) acquires the remaining 75 per cent interest in its flagship Hualilan Gold Project in Argentina
The company had the right to take on a further 50 per cent interest by completing a definitive feasibility study and issuing 50 million shares
To acquire the final 25 per cent interest, Challenger has arranged to pay a further US$3.69 million (A$3.69 million) and issue 64 million shares
Challenger says it's fully funded to complete a program of drilling, testwork on ore, an initial JORC-compliant resource and a pre-feasibility study.