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Challenger Gold Review Confirms Argentina Project's 'Robust' Asset

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Challenger Gold's (ASX:CEL) operational review confirmed its Hualilán project in Argentina is a "robust and strategic" gold development asset, according to a Thursday filing with the Australian bourse.

The review is underpinned by the pre-feasibility study, which outlined a 14.25-year life-of-mine production target of 1.8 million ounces gold equivalent (AuEq), average annual production of about 135,000 ounces AuEq after the staged start-up period, and a life-of-mine all-in sustaining cost of $1,618 per ounce payable gold, the filing said.

The company will undertake an AU$85 million equity raising to advance the project, per the filing.

Shares fell 2% in morning trade Thursday.

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