Spotlight Sponsor
Challenger Gold
Challenger Gold has total resources of 7.2 million pounces of gold split across two projects in South America. The Company's flagship project is the Hualilan Gold Project in San Juan, Argentina. Hualilan has both grade and scale with a resource of 2.8 Moz that includes a high-grade core of 1.6 Moz at 5.6 g/t AuEq, that remains open in all directions.
The Company recently announced a transformation toll milling agreement transaction which will fast track Hualilan production to within 12 months. Toll milling will see the company produce 85,000 ounces from the high-grade oxide material at surface. The primary objective of this strategy is to capitalize on the current high gold price (above US$2,500/oz) to generate early cash flow. This cashflow will be allocated towards the construction of the standalone Hualilan Gold project which will see the Company become a long term, low cost, 150,000 ounce per annum producer. A recent coping study outlining the stand-alone development forecast lowest global quartile all in sustaining (ASIC) cash costs if US$830/oz.
The Company’s second project, The El Guayabo Au-Cu Project in Ecuador adjoins a 17-million-ounce gold discovery going through permitting. El Guayabo has produced drill intersections including 638 metres at 0.6 g/t AuEq including 304 metres at 1.0 g/t AuEq and 257.8m at 1.4 g/t AuEq including 53.7m at 5.3 g/t AuEq with a first resource due this quarter. El Guayabo has a 4.5 Moz resource with a resource update expected before the end of the year.
