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Challenger Gold Limited (ASX:CEL)

ALERT: Price-sensitive ASX Announcement for CEL
Current share price for CEL : $2.460 -0.34 (-12.14%)+
Announcement
Release
13 Aug 2026 9:53AM
Price at Release
$2.800
Full Release
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Summary
Challenger Gold Limited is advancing its Hualilán Gold Project in Argentina through an operational review that confirms the project's strategic value, supported by a Pre-Feasibility Study forecasting a 14.25-year mine life with significant production targets. A 35,000-metre drilling campaign has commenced to explore mineralisation extensions. The company has strengthened its leadership team and secured an A$85 million equity investment to support project development. The transition plan involves shifting to an integrated mining and processing model, focusing on on-site processing and cost management to enhance long-term project value.
Key Points
  • Challenger Gold Limited has completed an operational review for the Hualilán Gold Project in San Juan Province, Argentina.
  • The review supports advancing towards a larger, integrated mine and processing development pathway.
  • A Pre-Feasibility Study (PFS) outlines a 14.25-year life-of-mine with a production target of 1.84Moz AuEq.
  • Challenger has initiated a 35,000-metre diamond drilling campaign at Hualilán to test mineralisation extensions.
  • An A$85 million equity raising has been announced to support project advancement.
  • New leadership appointments include Peter Marrone as Non-Executive Chairman.
  • The operational transition includes moving from third-party toll treatment to an integrated mining and processing operation.
  • The transition plan focuses on on-site processing, improved cost control, and long-term value capture.
  • Challenger aims for construction readiness by 2027 and production start in early 2029.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.