Challenger Gold targets 2029 production start for Hualilán Project

• Challenger Gold outlined a strategic development plan targeting early 2029 for commercial gold production at its Hualilán Project in Argentina.
• Share prices for Challenger Gold moved up to $2.06 following the announcement.
• The company plans to refinance a US$15 million convertible debenture due in September 2026 to fund operations through mid-2027.

Challenger Gold (ASX:CEL) released a development roadmap targeting commercial production from its 100%-owned Hualilán Gold Project in Argentina by early 2029.

The new plan prioritises stand-alone gold production from a Phase 1 heap leach operation following its 2026 pre-feasibility study results.

Ongoing technical work has benefited from additional information gained through small-scale mining carried out in 2026, accelerating and de-risking project execution while building an ore stockpile for future processing.

Commenting on the roadmap, the company said, "Our objective is clear: to transition Hualilán from a development asset to a producing gold operation.”

To support the roadmap, the business has a 35,000-metre drilling programme underway with four active rigs and plans to submit an application under Argentina's RIGI incentive framework in late 2026.

The company stated that refinancing its US$15 million convertible debenture due in September 2026 will extend funding for exploration and Phase 1 activities through mid-2027.

Following the announcement, the Challenger Gold share price was up at $2.06.

The exploration company is actively advancing detailed engineering works, evaluating potential secondary listings for international institutional exposure, and targeting an updated technical report for early 2027.

The project's development schedule relies on securing full project financing by mid-2027 to transition the site into an operating mine.