Sydney, Australia – 10 January 2025 | Challenger Gold Limited (ASX:CEL) ("Challenger" or "the Company") is pleased to announce the successful completion of a strategic placement and finalisation of a toll processing agreement. This marks several significant steps toward the commercialisation of Challenger’s flagship Hualilan Gold Project in Argentina.
Key Highlights:
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$6.6 Million Strategic Placement: Completed with Inversiones Financieras del Sur S.A. ("IFISA"), part of the Elsztain Group, making Eduardo Elsztain Challenger’s largest shareholder with a 12.7% holding.
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New Leadership Additions: Eduardo Elsztain to join the Challenger Board as Non-Executive Chairman, and Saul Zang as Non-Executive Director, enhancing international business and mining expertise.
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Toll Processing Agreement Finalised:
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Secures processing for 450,000 tonnes of material over three years at the Casposo Plant in Argentina.
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Casposo Plant to process high-grade material with recoveries historically averaging 90% for gold and 79% for silver.
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Starter Pits Identified: 478,000 tonnes of material containing 85,550 ounces of gold and 495,334 ounces of silver available for processing.
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Early Cash Flow Opportunities: The agreement positions Challenger to capitalise on high gold prices, providing funding for further project development.
Kris Knauer
Managing Director
kris.knauer@challengerex.com
Jane Morgan
Media Enquiries
jm@janemorganmanagement.com.au
About us:
About Challenger Gold Limited
Challenger Gold Limited’s (ASX: CEL) aspiration is to become a globally significant gold producer. The Company is developing two complementary gold/copper projects in South America with the Company's flagship Hualilan Gold Project in San Juan, Argentina containing resources of 2.8 million ounces gold equivalent.
