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An announcement from Challenger Exploration Limited ( (AU:CEL) ) is now available.
Challenger Exploration Limited has made significant progress in its Hualilan Gold Project in Argentina, with toll milling operations advancing and expected to commence in early 2026. The company has secured necessary permits and contracts, including a blasting contract with ORICA and drilling services with THOR S.A., positioning itself for operational success. Additionally, the completion of a takeover of Lumina Gold Corp by CMOC Group Limited suggests a favorable valuation for Challenger’s projects in Ecuador. Financially, the company has bolstered its cash reserves through a $30 million institutional placement, which will support the ramp-up of toll milling operations and further drilling campaigns.
More about Challenger Exploration Limited
Challenger Exploration Limited operates in the mining industry, focusing on the exploration and development of gold projects. The company is primarily engaged in the advancement of its Hualilan Gold Project in Argentina and holds interests in projects in Ecuador.
Average Trading Volume: 3,773,390
Technical Sentiment Signal: Buy
Current Market Cap: A$293.8M
Learn more about CEL stock on TipRanks’ Stock Analysis page.