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South America explorer raises US$4.5M

Challenger Exploration has raised A$6.5 million (US$4.5 million) in a placement made to a group of strategic investors, domestic institutions and chairman Fletcher Quinn.

South America explorer raises US$4.5M South America explorer raises US$4.5M South America explorer raises US$4.5M South America explorer raises US$4.5M South America explorer raises US$4.5M

Challenger Exploration's Hualilan project in Argentina

The 65 million new shares will be issued at A10c per share, a 9% discount to the 10-day colume-weighted average price.

The second tranche, including a $1.