Overview

Challenger Energy Limited is a public company listed on the Australian Stock Exchange (ASX:CEL). It is presently focused on the world class shale gas play in the Karoo Basin in South Africa.

Challenger’s strategy is to leverage its high value position in this future legacy asset to build a long-term sustainable company with a quality unconventional portfolio.

Challenger will seek to identify and add high potential assets that will be value accretive to the Company whilst maintaining a balanced risk profile.


Challenger to acquire rights to two South American gold/copper projects located in Argentina and Ecuador

Highlights

  • Binding conditional agreement to acquire 75% of the Hualilan Project (Argentina) and 100% of El Guayabo Project (Ecuador) via acquisition of AEP Corporation Pty Ltd (AEP) for consideration comprising 180,000,000# ordinary shares, 78,444,444# options 4 cents expiring 30 June 2022, 60,000,000# Class A Performance Shares and 60,000,000# Class B Performance Shares.
  • AEP can earn 75% of the Hualilan Project in Argentina and 100% of El Guayabo Project in Ecuador via staged farmin agreements.
  • Hualilan Project is a high-grade gold / silver project with extensive historical drilling and a 43-101 compliant foreign resource estimate.
  • El Guayabo is a breccia and porphyry gold / copper project with sufficient historical information to identify multiple targets including;
    • Breccia hosted mineralization - only 2 of 10 breccia bodies systematically drill tested;
    • Extensive late stage vein system - never drill tested; and
    • Underlying porphyry system target - never drill tested.

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