2 questions asked at 2025 Challenger Gold virtual EGM

August 23, 2025

Below is the text of the 2 written questions asked at the 10 minute Challenger Gold (CEL) virtual EGM held on August 22, 2025, plus a summary of the answers and some video grabs via Twitter. See notice of meeting. Market cap was $238m on EGM day. No protest votes across 7 resolutions.

Q1. Why didn't you offer retail shareholders an SPP on the same terms as the $35m placement?

By way of background, here is the entry on the capital raisings master list:

June 5, 2025: Challenger Gold (CEL): announced a $35m placement at 8c, a 16.7% discount to the previous close of 9.7c. The stock closed at 8.2c on June 30, giving it a market cap of $173 million and leaving placement participants only slightly in front. No follow on SPP for retail investors, so they've been added to this “placement only shame file”.

Answer: The CEO Kris Krauer claimed an earlier SPP received little support so they didn't try again. Hopeless. The recent placement was at 8c and the stock has now soared to 11c. It is not too late to do a make-good SPP for the 2,700 retail shareholders before next year's AGM. Watch video of exchange via Twitter.

Q2. Who owns Evolution Capital?

Answer: The chair said he didn't know.

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2 questions asked at 2025 Challenger Gold virtual EGM

August 23, 2025

Below is the text of the 2 written questions asked at the 10 minute Challenger Gold (CEL) virtual EGM held on August 22, 2025, plus a summary of the answers and some video grabs via Twitter. See notice of meeting. Market cap was $238m on EGM day. No protest votes across 7 resolutions.