Challenger Gold Confirms Refurbishment of Toll Milling Plant on Track Following Austral Gold Update and Independent Inspection
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/
Disclaimer: This is not financial advice. Please do your own research before investing.