Australia's Challenger Gold drops on discounted placement

Challenger Gold

18/05/2026 05:57

** Shares of Challenger Gold CEL.AX fall as much as 3.7% to A$0.13, their lowest level since May 7

** Gold miner receives binding commitments for an A$85 million ($60.63 million) placement

** Issue price of A$0.12 per share represents a discount of 7.7% to stock's last close

** Funds raised through placement will be used for a resource growth drilling campaign aimed at testing broader Hualilan tenement package and others

** About 11.8 million shares traded so far, 3.5x the 30-day avg

** Down 16.1% YTD, including the session's moves

($1 = 1.4019 Australian dollars)

(Reporting by Anjali Singh in Bengaluru)

((anjali.singh2@thomsonreuters.com; ))