CEL 4.00% 4.8¢ challenger gold limited

Ann: Quarterly Activities Report, page-2

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    Cash at bank at the end of the quarter was $4.3 million in line with budget forecasts. During the
    quarter the company commenced a process aimed at procuring funding to complete the Hualian
    bankable Feasibility Study via either:
    • A Strategic Investor; or
    • Royalty or Stream Finance; or
    • Other forms of non-dilutive finance
    The process is progressing well with several options currently being evaluated.

    Raider
 
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