Congratulations to Challenger Gold Limited (ASX: CEL) on its A$30m Placement.

The Placement builds on recent momentum, with the Casposo Mill now fully operational and drill and blast contractors mobilising to Hualilan ahead of mining in December 2025 and first gold production in January 2026.

Proceeds from the Placement will support the ramp-up of toll milling operations, fund a 40,000m drill campaign commencing in January 2026, and provide select capital for early site preparation. The Hualilan Life of Mine PFS remains on track for release in Q1 CY2026.

Sternship Advisers is pleased to have acted as Joint Lead Manager to the Placement.