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Challenger Gold (CEL) investor relations material
Challenger Gold H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved transition from exploration to mining development, with first gold production from the Hualilan Tolling Phase in Argentina and ongoing exploration in Ecuador.
Secured significant capital through multiple placements, raising over $70 million to fund development and exploration.
Completed key infrastructure and commenced mining ahead of schedule, with mining productivity exceeding forecasts.
Financial highlights
Revenue for 2025 was AU$311.2M (US$200.7M), with profit after tax of $5.77M, down from $74.6M in 2024 due to non-recurring prior year gains.
EBITDA from toll milling projected at US$88M (AU$136.4M) over three years, with post-tax NPV5 of US$50.5M at conservative gold prices.
Cash and cash equivalents at year-end were $36.2M, up from $0.85M in 2024.
Net assets increased to $240.9M from $203.0M year-over-year.
Basic EPS was 0.29 cents, down from 5.39 cents in 2024.
Outlook and guidance
Standalone Pre-Feasibility Study (PFS) for Hualilan on track for March 2026, targeting expanded open pit and heap leach operations.
First gold sales from toll mining expected early in Q2 2026.
Ongoing drilling and feasibility studies to support further resource upgrades and development.
- Net profit surged 38% to $74.6M, with Hualilan advancing and funding secured for growth.CEL
H2 202427 Mar 2026 - Hualilan toll milling fully permitted and set for January 2026 start; Ecuador resources doubled.CEL
Q3 2025 TU21 Dec 2025 - Toll Milling launch and Heap Leach unlocks drive growth, with asset sale poised to boost value.CEL
Noosa Mining Investor Conference16 Nov 2025 - Half-year profit reached $7.26M, with major capital raised and Hualilan PFS confirming strong economics.CEL
H1 202513 Sep 2025 - Ecuador resources doubled to 9.1 Moz AuEq; Hualilan advances toward toll milling and PFS completion.CEL
Q1 2025 TU22 Jun 2025 - Net profit surged to $53.9M as Hualilan PFS advanced and funding needs remain.CEL
H1 202413 Jun 2025 - A$6.6M raised and toll milling deal fast-track Hualilan, with EIA approval and Ecuador drilling progress.CEL
Q3 2024 TU13 Jun 2025 - Hualilan PFS progresses, Ecuador drilling strong, cash $5.75M, $4M raised, low carbon.CEL
Q2 2024 TU13 Jun 2025
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