#challengergold

Game-Changing Agreement with Ecuadorian Government

Challenger Gold Limited has fortified its position in Ecuador’s mining sector by signing a landmark Investment Protection Agreement (IPA) with the Ecuadorian Government. This critical legal framework secures up to US$75 million in historical and future investments associated with the company’s 100%-owned El Guayabo Project, a high-potential gold-copper-molybdenum deposit in southwest Ecuador.

Challenger Gold Limited (ASX:CEL) has taken a major step toward de-risking its South American portfolio by signing an Investment Protection Agreement (IPA) with the Government of Ecuador for its 100%-owned El Guayabo Project.

ASX:CEL is trading at $0.082.

Key Milestone: Ecuador Investment Protection Agreement

✅ Covers US$75M investment from 2019 to 2027

⚖️ Guarantees legal certainty, regulatory stability & protection from expropriation

🌐 Disputes resolved via international arbitration in London

🔐 8-year initial term, renewable — secures long-term project development

⛏️ Timed with El Guayabo resource doubling to 9.1Moz AuEq, reinforcing project scale

💼 Supports monetisation strategy — TSX listing, JV, or sale under review

Management Insight:

Kris Knauer, Managing Director: "This Agreement is a significant de-risking milestone, providing CEL with legal certainty and long-term investment security in Ecuador."

Why This Matters:?

From sovereign protection to resource scale-up, Challenger Gold continues to build a platform for long-term success across Latin America.

✨ World-class resources. Locked-in security. Strategic upside unlocked.

Read More - https://colitco.com/challenger-gold-signs-ecuador-investment-deal-boosts/

Challenger Gold Limited (ASX:CEL) has delivered a standout March 2025 quarter, achieving a 100% increase in Mineral Resource Estimate at its Ecuador projects and accelerating mining readiness at its Hualilan Gold Project in Argentina.

Challenger Gold:CEL is trading at $0.081.

Quarterly Highlights:

Ecuador Gold Resource Doubles to 9.1Moz AuEq

🚀 Major growth milestone — among largest undeveloped gold assets in South America

🏆 6.9Moz AuEq attributable to CEL across El Guayabo (100%) & Colorado V (50%)

⛏️ High-grade core of 2.1Moz @ 1.0 g/t AuEq enables early-stage production upside

🔍 Mineralisation confirmed in all 13 drilled anomalies — open along strike & depth

🧭 Strategic options under review: TSX listing, JV or asset sale

Hualilan Project (Argentina) Moves Toward Production

🛠️ Final pit designs complete for Sanchez, Norte, and Magnata

🏗️ Toll Milling plan based entirely on Indicated Resources — Inferred material stockpiled

⚙️ Flexible mining strategy: Sentazon pit on standby

🏭 Refurbishment underway on toll milling plant; PFS near completion (JORC + NI 43-101)

👷‍♂️ Veteran mining leader Ubirata De Oliveira appointed GM Operations

Corporate & Funding Milestones:

🎖️ Eduardo Elsztain appointed Chairman — leading Argentine businessman with mining, property & agri-sector pedigree

💰 US$2M drawn from US$20M project finance facility to support early mining & corporate needs

🧪 $2.9M exploration spend, majority at Hualilan including strategic surface rights acquisition

📊 Admin/corporate spend $1.4M, including PFS and IR one-off costs

Strategic Momentum:

💵 Early Cash Flow Potential

Front-loaded mining schedule designed to unlock high-grade ore from Day 1

3–6-month stockpile buffer ensures operational continuity

📈 Valuation Re-Rate Potential

Resource growth + TSX listing/farm-in pathways offer clear rerating catalysts

🌎 LatAm Gold Exposure with De-risked Development Path

Hualilan and Ecuador projects advancing toward production with defined timelines and funding support

Why Challenger Gold Is One to Watch: From resource scale-up to near-term production and corporate re-positioning, Challenger Gold is building a platform to become a leading gold developer in Latin America.

✨ High-grade gold. Smart strategy. Strategic growth unlocked.

🔗 Full editorial here: https://colitco.com/challenger-gold-achieves-milestone-march-2025-quarter/

🚀 Challenger Gold Limited (ASX: CEL) is making strong strides toward production with the on-schedule refurbishment of its Casposo Processing Plant in San Juan, Argentina. With major workstreams in crushing, leaching, and refining advancing smoothly, CEL is strategically positioned to begin generating early cash flow by late 2025, supporting the larger development of its high-grade Hualilan Gold Project. 🏗️💰

A robust Toll Milling Agreement guarantees processing of 450,000 tonnes over three years, leveraging historic high recovery rates at Casposo. Meanwhile, global gold prices soaring above US$3,300/oz and silver near US$40/oz enhance project economics significantly. 🌍📊

Recent inspections confirm key systems—like solid-liquid separation and CCD units—are tracking well for commissioning. Risk remains around some imported equipment deliveries, but mitigation plans are in motion. 🔧📦

Challenger Gold (ASX:CEL) reports strong progress at the Casposo Processing Plant in Argentina, as Austral Gold confirms refurbishment is advancing safely and efficiently across all workstreams.

This aligns with CEL’s second independent inspection, carried out by the same engineers behind the December 2024 Audit & Restart Plan.

Key Highlights:

⚙️ Austral Gold confirms robust refurbishment progress ✅ CEL’s inspection confirms:

Strong advancement across all processing areas

Refurbishment on schedule

Solid-liquid separation capacity meets 1,000 TPD target

Enough time to hit H2 2025 commissioning goal under the Toll Milling Agreement

Refurbishment Milestones:

🔩 Crushing circuit complete – ready for commissioning 🛠️ Leaching tank reducers 100% refurbished 💧 Process water system done ⚡ 80% of electric motors serviced 🔁 Belt filter refurbishment 80% complete 🔌 Electrical cabling cleanup finished 🔄 40% valve replacements installed

Strategic Toll Milling Plan:

🪙 Processing of 450,000t over 3 years locked in via Toll Milling Agreement 📈 Goal: Fast-track early cash flow while gold prices soar above US$3,300/oz 🏗️ Funds to support Hualilan standalone project (FTL circuit, HL pad, mining fleet)

Why This Matters:

Austral’s announcement and CEL’s inspection report validate a clear, fast-moving path to production.

Casposo Legacy:

⛏️ 323,000 oz gold + 13.2 Moz silver produced ⚗️ Recoveries: 90% Au & 79% Ag

Investor’s Outlook:

Challenger Gold (ASX:CEL) is currently trading at $0.081, reflecting growing investor confidence in the company’s near-term production strategy. With a fully refurbished Casposo plant on the horizon and a locked-in Toll Milling Agreement, CEL is positioned to deliver early revenue while preparing for standalone development at Hualilan. Backed by a strong legacy, credible partners, and favourable gold pricing, Challenger offers a compelling value proposition for growth-focused investors.

Read the full ASX release (30 April 2025): https://colitco.com/challenger-gold-refurbishment-of-toll-milling-plant/

Challenger Gold Ltd (ASX: CEL) has delivered a 100% increase in its Mineral Resource Estimate across its Ecuador projects, now totalling 9.1 million ounces of gold equivalent (AuEq)—making it one of the largest undeveloped gold resources in South America.

The updated MRE includes:

✅ 567Mt @ 0.50g/t AuEq ✅ High-grade core of 2.1Moz @ 1.0g/t AuEq, with 1.2Moz @ 1.2g/t AuEq ✅ Resources defined from drilling just 5 of 15 major anomalies

🗣️ MD Kris Knauer commented:

“This is a transformational milestone that unlocks significant value for our shareholders and enables us to fully focus on advancing our flagship Hualilan Gold Project in Argentina.”

🚀 Strategic Path Forward for Ecuador Assets: 📌 Potential TSX spinout to capture premium valuation 🤝 Strategic sale or farm-in partnership under consideration 🛣️ Infrastructure advantages: 35km from port, power, water, and road access already in place

🏆 Investor’s Outlook:

Following the significant Ecuador resource update, Challenger Gold is strategically repositioning for growth. With Ecuador's world-class scale attracting global interest and monetisation pathways in place, investor focus now sharpens on the fully-owned Hualilan Gold Project in Argentina.

🌟 Hualilan Highlights:

⚒️ 2.8Moz AuEq total resource with high-grade core of 1.5Moz @ 5.6g/t AuEq 💰 Toll milling deal to generate near-term cash flow ⛏️ Open mineralisation with long-term production upside

📈 ASX: CEL last traded at A$0.056, reflecting renewed investor interest following the major resource upgrade.

🔗 Read the full announcement - https://colitco.com/challenger-gold-doubles-ecuador-resource-2025/

Challenger Gold Limited (ASX: CEL) continues to advance its gold and copper exploration projects in Argentina and Ecuador, securing key strategic investments and strengthening its leadership team.

📈 Current Share Price: $0.059

📊 Key Financial Highlights:

✅ Net Profit: $74.6M (Up from $53.9M in 2023) ✅ Capital Raised: $21.2M through placements, SPP, and strategic investments ✅ Strategic Investor: Eduardo Elsztain’s Inversiones Financieras del Sur S.A. takes a major stake

🔹 Major Developments:

✅ $9.6M Raised via two placements at an 8.5c issue price, including options ✅ $6.6M Strategic Placement completed with Elsztain Group (147.7M shares & options) ✅ $4M Share Purchase Plan (SPP) well-supported by investors ✅ Additional $1M Private Placement at 4.5c per share ✅ Hualilan BFS to be funded through Toll Milling cashflows ✅ Exploring further funding options: Strategic investors, royalties, or non-dilutive finance

🔹 Leadership Updates:

📢 Eduardo Elsztain appointed as Non-Executive Chairman 📢 Sergio Rotondo remains as Vice Chairman

📊 Investor Outlook:

With a strong financial position, solid shareholder support, and clear strategic direction, Challenger Gold is well-positioned for long-term value creation. The Hualilan BFS, backed by toll milling revenues, could be a significant catalyst, while ongoing exploration and financing strategies further strengthen growth prospects.

📢 What’s Next?

🔹 Advancing the Hualilan BFS 🔹 Expanding toll milling operations 🔹 Further exploration activities and financing strategies

With strong financial backing, a clear strategic direction, and experienced leadership, Challenger Gold is on track for an exciting future!

📍 Read more: https://api.investi.com.au/api/announcements/cel/1236ae8a-fc3.pdf

Challenger Gold Limited (ASX: CEL) has successfully drawn down an initial US$2M (~AUD $3.2M) from its US$20M Project Finance Facility, arranged by Middlegate Securities Inc. and ECM Capital Advisors Inc.. The funds will support early mining preparation, general corporate overheads, and working capital.

🔍 Project Finance Snapshot:

✅ Tranche 1 Loan: US$2M ✅ Interest Rate: 8.5% (if repaid before Dec 7, 2025) | 12.75% (after) ✅ Repayment: One bullet payment from first Toll Milling cash flow ✅ Collateral: Unsecured ✅ Fees: 4% of gross proceeds to Advisory Team

📍 Investor Outlook:

Challenger Gold (ASX: CEL) is progressing toward cash-generating Toll Milling operations. The drawdown supports key development activities, positioning CEL for future growth in the gold sector.

📈 ASX: CEL is currently trading at $0.061, reflecting growing investor interest in the Company’s strategic advancements.

📍 Read more: https://colitco.com/challenger-gold-2m-drawdown-toll-milling/