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    CEL   AU000000CEL8

CHALLENGER EXPLORATION LIMITED

(CEL)
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Challenger Exploration Limited Completes Acquisition for 100% of Hualilan Gold Project

09/08/2021 | 07:18pm EDT

Challenger Exploration Limited announced that it now own 100% of its announce that it now own 100% of its Hualilan Gold Project in San Juan Argentina. Hualilan is a compelling gold discovery, with the benefit of both grade and scale, located in a Tier 1 mining jurisdiction. This is illustrated by recent results which include 3.8m at 24.8 g/t AuEq3, 16.9m at 16.9 g/t AuEq,(including 7.1m at 32.2 g/t AuEq), and 51.6m at 4.5 g/t AuEq. Mineralisation at Hualilan has now been defined over 3 kilometres of strike and 500 metres vertically with mineralisation remaining open in all directions. The company has allotted the shares required to complete the acquisition with the US$3.69 million cash consideration paid in July. Exploration progress at the Hualilan Gold Project continues to exceed the Company's expectations, driven by the hard work and diligence of the exploration team in San Juan. The Company collared drill hole GNDD-400 overnight and has completed 93,599 metres of drilling in the 2 years since drilling started in September 2019. The Company has 110,401 metres of the current fully funded drill program to complete, which will take the total metres drilled by the Company at the Hualilan Gold project to 204,000 metres. Weekly metres drilled at Hualilan has increased from 1,500 metres per week in June to 2,500-3,000 metres per week. As well as the increase in the rig count from five to nine there has been a significant lift in productivity per rig as the drillers gain experience on site. The Company is on track to complete the remaining 110,000 metres in 10 months. This will see significantly more drill metres completed at Hualilan in the next 10 months than have been completed throughout the previous 2 years.


ę S&P Capital IQ 2021
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More news
Financials
Sales 2021 - - -
Net income 2021 0,60 M 0,45 M 0,45 M
Net cash 2021 44,0 M 33,0 M 33,0 M
P/E ratio 2021 275x
Yield 2021 -
Capitalization 268 M 201 M 201 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees 3
Free-Float 84,7%
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Challenger Exploration Limited Technical Analysis Chart | CEL | AU000000CEL8 | MarketScreener
Technical analysis trends CHALLENGER EXPLORATION LIMITED
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TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 1
Last Close Price 0,28 AUD
Average target price 0,60 AUD
Spread / Average Target 118%
Managers and Directors
Kris David Knauer Chief Executive Officer, MD & Executive Director
Francis Scott Funston CFO, Secretary & Executive Director
Fletcher Christeson Quinn Non-Executive Chairman
Stuart Munroe Exploration Manager
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