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Challenger Exploration Limited ( (AU:CEL) ) just unveiled an announcement.
Challenger Gold is set to begin toll processing of ore from its Hualilan Gold Project on 1 May 2026, with first gold sales revenue expected in May and cash reserves of $20.6 million against quarterly expenditure of $15.8 million. The standalone pre-feasibility study for Hualilan is largely complete and due for release within a week, marking a key step toward full-scale development of the project.
Operationally, ore haulage constraints have been eased after structural testing and approval of the Calingasta River bridge, allowing trucking rates to ramp up toward 1,000 tonnes per day with the start of night-shift haulage. Infill drilling at the Magnata pit has returned higher-than-modelled grades and identified new high-grade zones, while grade underperformance in upper benches of the Sanchez and Norte pits has been attributed to biased channel sampling and is not expected to affect the main PFS resource, guiding a focus on accelerating Magnata pit mining.
More about Challenger Exploration Limited
Challenger Gold Limited is an Australian-listed gold explorer and developer focused on advancing its Hualilan Gold Project in San Juan, Argentina. The company is progressing both toll milling operations and a standalone pre-feasibility study to transition Hualilan from exploration toward production and generate near-term cash flow from existing mineralised material.
Average Trading Volume: 3,623,048
Technical Sentiment Signal: Buy
Current Market Cap: A$341.4M
Find detailed analytics on CEL stock on TipRanks’ Stock Analysis page.