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- Last 2026-11-06
- A$1.6
- 1D
- —
- 1M
- —
- YTD
- —
- 1Y
- —
- Fair value
- Locked: sign in to view
- Upside
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- Mkt cap
- A$273.8M
- EV
- A$226M
- Cash
- A$20M
- Debt
- A$21M
9 newer ASX announcements not yet reflected in this valuation
- Application for quotation of securities - CELPost Cash Checkpoint Security Event
- Application for quotation of securities - CELPost Cash Checkpoint Security Event
- Notification regarding unquoted securities - CELPost Cash Checkpoint Security Event
- Quarterly Cashflow ReportLatest Four Cash Flow Reports
- Quarterly Activities ReportLatest Four Activities Reports
- Application for quotation of securities - CELPost Cash Checkpoint Security Event
- Notification regarding unquoted securities - CELPost Cash Checkpoint Security Event
- Investor Presentation - JMM Gold ForumLatest Operating Presentation
- Proposed issue of securities - CELPost Cash Checkpoint Security Event
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Sign in or enter a guest codeAnnouncements
Latest 12 of 21All sources ▸- Application for quotation of securities - CELCorporate Action
- Notification regarding unquoted securities - CELCorporate Action
- Update - Notification regarding unquoted securities - CELCorporate Action
- Quarterly Activities ReportResults
- Quarterly Cashflow ReportResults
- Investor PresentationPresentation
- Application for quotation of securities - CELCorporate Action
- Completion of Hualilan Pre-Feasibility StudyStudy
- Pre-Feasibility Study Summary ReportStudy
- Annual Report to ShareholdersResults
- Quarterly Activities ReportResults
- Quarterly Cashflow ReportResults
Event calendar · next 12 months
7 events| Timing | Event | Category | Confidence | Materiality | Investor relevance |
|---|---|---|---|---|---|
| 2026-09-27 to 2026-10-31 | QRC debenture refinancing status after September 14 maturity | Financing | Inferred | High | QRC debenture refinancing status after September 14 maturity can change financing certainty or development value. |
| 2026-09-27 to 2026-12-31 | RIGI investment regime application | Permitting | Company Guided | High | RIGI investment regime application can change financing certainty or development value. |
| 2026-10-01 to 2026-12-31 | Q4 2026 Hualilan exploration update | Exploration | Company Guided | High | Q4 2026 Hualilan exploration update can change financing certainty or development value. |
| 2027-01-01 to 2027-06-30 | RIGI application decision target | Permitting | Company Guided | High | RIGI application decision target can change financing certainty or development value. |
| 2027-01-01 to 2027-03-31 | NI 43-101 technical report and project update | Study | Company Guided | High | NI 43-101 technical report and project update can change financing certainty or development value. |
| 2027-04-01 to 2027-06-30 | Full Hualilan project financing target | Financing | Company Guided | High | Full Hualilan project financing target can change financing certainty or development value. |
| 2027-07-01 to 2027-09-26 | Hualilan resource and reserve update | Resource Or Reserve | Company Guided | Medium | Hualilan resource and reserve update can change financing certainty or development value. |
Executive roster
As of 2026-09-11Background checks ▸September 11 interim corporate directory and August leadership announcement; no post-September changes identified.
| Executive | Title | Normalized role | Appointed | Sources |
|---|---|---|---|---|
| Peter Marrone | Non-executive Chair | Other · Executive Director | 2026-08-06 | Half year accounts 30 June 2026 · Challenger Gold sharpens Hualilan development pathway |
| Yohann Bouchard | Interim Chief Executive Officer · Chief Operating Officer | Chief Executive · Operations | 2026-08-10 | Half year accounts 30 June 2026 · Challenger Gold sharpens Hualilan development pathway |
| Sergio Rotondo | Executive Vice Chair | Executive Director | — | Half year accounts 30 June 2026 |
| Sonia Delgado | Executive Director | Executive Director | — | Half year accounts 30 June 2026 |
| Felipe Riquelme | Chief Financial Officer | Finance | 2026-08-10 | Half year accounts 30 June 2026 · Challenger Gold sharpens Hualilan development pathway |
| Luke Buchanan | Vice President, Project and Strategic Planning | Other | 2026-08-10 | Half year accounts 30 June 2026 · Challenger Gold sharpens Hualilan development pathway |
devCoverage status: Complete As Disclosed
Portfolio detail
Assets
Core asset
Hualilan
Argentina
PFS Developer100% ownedGoldSilverZinc
Standalone mine development after toll-mining reset; PFS current, finance and RIGI pending.
Project location
Approximate location
Loading imagery…
© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Published study economicsIssuer or study metrics
NPVUS$1.1B5% discount
IRR34.8%Published return
Initial capexUS$267MPublished capital estimate
Operating cost1,618US$/oz payable gold AISC
Post-tax NPV5 at US$3500/oz gold, US$58/oz silver and US$1.35/lb zinc; AISC US$1618/oz payable gold; RIGI 25% tax assumed but unapproved.
Resources & reserves2
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Measured, Indicated and Inferred | 132.1 million tonnes | 2.735 Moz AuEq | Gold · Silver · Zinc | — |
| Ore Reserve | Probable | 62.9 million tonnes | 0.75 g/t Au; 1.514 Moz contained Au, 7.728 Moz Ag and 170 kt Zn | Gold · Silver · Zinc | — |
Tenements1
Milestones4
- RIGI submission targeted late 2026
Pending · High materiality
- NI 43-101 technical update early 2027
Pending · High materiality
- Full project financing targeted mid-2027
Pending · High materiality
- Resource and reserve updates H2 2027
Pending · High materiality
Permits & approvals1
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| Hualilan environmental impact authorization, Resolution 688-MM-2024 | San Juan, Argentina | Granted | — | Yes |
Economic studies3
| Study | Stage | Status | Date | Summary |
|---|---|---|---|---|
| 2023 scoping study | Scoping Study | Superseded | 2023-11-08 | Historical scoping study superseded by 2026 PFS. |
| 2025 toll milling PFS | PFS | Superseded | 2025-06-04 | September 2026 roadmap explicitly says this should not be relied upon. |
| 2026 standalone Hualilan PFS | PFS | Current | 2026-05-18 | 14.25 year standalone project, heap leach and flotation, post-tax NPV5 US$1.101b at US$3500 gold. |
Material
El Guayabo
Ecuador
Resource Stage100% ownedGoldCopper
Inferred resource exploration asset; no funded mine study. El Guayabo 2 additional interest conditional.
Project location
Approximate location
Loading imagery…
© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Resources & reserves1
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Inferred | 292 million tonnes | 4.7 Moz AuEq | Gold · Copper | — |
Tenements1
Material
Colorado V
Ecuador
Resource Stage50% ownedGoldCopper
Resource project with 50% attributable CEL interest under joint venture/earn-in.
Project location
Approximate location
Loading imagery…
© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Resources & reserves1
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Indicated and Inferred | 278.1 million tonnes | 4.4 Moz AuEq on 100% basis | Gold · Copper | — |
Tenements1
Funding, performance and ownership
Financials & Capital
Liquidity
Financial position
Pro forma equity proceeds augment cash, but September convertible refinancing remained unconfirmed in reviewed evidence; construction capex US$267m is unfunded.
Inventory composition3
June 30 carrying values total A$16.438m after A$1.82m inventory write-down; not added as surplus cash in NAV.
- Ore stockpiles
- A$5.3M carrying
- Work in progress
- A$1.6M carrying
- Gold doré at net realizable value
- A$9.5M carrying
Capital structure
Ownership and dilution
- Ordinary shares
- 171.1M
- Fully diluted
- 211.3M
Post 20:1 consolidation ordinary shares 171,120,303 on September 14 Appendix 2A. Add 40,145,689 listed options/performance rights without exercise proceeds for conservative fully diluted 211,265,992 share basis; do not add debenture conversion shares because its carrying value is deducted as debt. The 39,030 interest shares are already in ordinary shares.
Security classes8
| Class | Type | Quantity | Strike | Expiry |
|---|---|---|---|---|
| ASX CEL ordinary shares | Ordinary Share | 171.1M | — | — |
| CELAZ options | Option | 18.1M | A$3.12 | 2029-06-30 |
| CELAW options, varied strikes | Option | 7.4M | — | 2027-01-31 |
| CELAH options | Option | 100K | A$2 | 2027-06-30 |
| CELAX options | Option | 12.5M | A$2.4 | 2028-08-31 |
| CELAY options | Option | 1M | A$3.9 | 2028-11-30 |
| Performance rights | Performance Right | 1M | — | — |
| US$15m QRC convertible debenture; principal treated as debt in valuation | Convertible | 1 | — | 2026-09-14 |
KPI history
Operating metrics
Operating metric source table4
| Metric | Project | Period | Period type | Value | Status |
|---|---|---|---|---|---|
| Production | Hualilan | 2026 Q2 | Quarter | 1,543 oz Au | Reported |
| Production | Hualilan | 2026 Q2 | Quarter | 6,670 oz Ag | Reported |
| Throughput | Hualilan | 2026 Q2 | Quarter | 39,342 tonnes | Reported |
| Recovery | Hualilan | 2026 Q2 | Quarter | 88 percent | Reported |
Company guidance1
| Metric | Project | Period | Low | High | Status |
|---|---|---|---|---|---|
| Phase 1 Heap Leach First Production | hualilan | early 2029 | — | — target early 2029 | Current |
Capital history
Capital events
| Date | Event | Amount | Shares | Price | Status | Terms |
|---|---|---|---|---|---|---|
| 2026-09-10 | Raising | A$2M | 833.3K | — | Completed | — |
| 2026-08-06Ann. 2026-08-13 | Raising | A$61.8M | 25.8M | — | Completed | — |
| 2025-01-01 | Debt | US$15M | — | — | Ongoing | — |
Contracts and ownership
Material economic arrangements These are deals that can affect sales, costs, funding or ownership. An arrangement marked “Included in valuation” may already be built into a project estimate or the bridge to shareholder value. A separate amount is shown only when one can be estimated; do not add it again.
Signed toll and disclosed joint-venture terms from annual report and subsequent issuer reset; no signed ore purchase contract inferred.
Signed 2024 toll processing agreement has residual payment obligation. The selective-mining plan and 2025 toll PFS are superseded; ore purchase replacement remains unsigned.
Tolling Or Processing · Active- Counterparties
- Austral Gold / Casposo Argentina Mining
- Applies to
- Hualilan · Gold · Silver
- Economic direction
- Mixed
- Period
- From 2024-12-30; no end date stated
- Key terms
- contracted annual throughput: 150,000 tonnes/year
unpaid access fee: 1 US$ million
How it affects our valuation
No valuation treatment is available for this arrangement.
Power MOU may lower company-funded connection capex; funding is not executed.
Strategic Partnership · Conditional- Counterparties
- YPF Luz
- Applies to
- Hualilan · Gold · Silver · Zinc
- Economic direction
- Benefit
- Period
- Dates not stated
- Key terms
- possible third-party funded power link: 48 US$ million
How it affects our valuation
No valuation treatment is available for this arrangement.
Colorado V resource shown on 100% basis; valuation uses only 50% attributable interest, subject to earn-in terms.
Joint Venture · Active- Counterparties
- Goldking Mining Company SA
- Applies to
- Colorado V · Gold · Copper
- Economic direction
- Mixed
- Period
- Dates not stated
- Key terms
- CEL interest: 50 percent
How it affects our valuation
No valuation treatment is available for this arrangement.
El Guayabo 2 interest is conditional and not assigned incremental quantified value.
Earn In · Conditional- Counterparties
- Segundo Angel Marin Gomez
- Applies to
- El Guayabo · Gold · Copper
- Economic direction
- Benefit
- Period
- Dates not stated
- Key terms
- potential earn-in: 80 percent
How it affects our valuation
No valuation treatment is available for this arrangement.
Intrinsic value
Valuation
Valuation
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Sign in or enter a guest codeResource-price transmission
Sensitivity lab
Sensitivity lab
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Sign in or enter a guest codePeople, delivery and responsibility
Management background checks
The roster now has substantially better career and role-fit evidence. Peter Marrone brings documented Yamana and major-transaction experience; Sergio Rotondo is linked to Hualilan’s project origin; Sonia Delgado combines local legal/government and company leadership; Yohann Bouchard and Luke Buchanan bring substantial mine-operations and technical-services backgrounds; Felipe Riquelme brings mining finance experience, though his prior career is less independently corroborated. Hualilan reached first production and produced initial toll-milled doré, then faced a near-surface grade/model shortfall, paused/ended toll processing and reset toward an integrated development. Responsibility for the antecedent model issue is not established for the new August team.
Decision-relevant facts
Material summary
Peter Marrone
Non-executive Chair
Company SuccessDocumented · Medium materiality
Founded and led Yamana through expansion and a court-approved sale
SEC-filed Yamana circular identifies Marrone as founder (2003), CEO to 2018 and Executive Chairman. Yamana’s 2022 arrangement circular documents a shareholder-approved, court-supervised transaction in which Pan American acquired Yamana and Agnico acquired Canadian assets; completion occurred in 2023. This establishes a major strategic transaction during his leadership, not a standalone measure of value creation or shareholder return.
Individual involvement documented · His executive role and transaction negotiations are directly documented; market conditions and collective board responsibility remain relevant.
Yamana Gold 2022 Management Information Circular · Director biography
Yamana shareholder-approved arrangement circular · Arrangement description and court approvals
Evidence gaps · 4
- Role chronology and education rely partly on issuer biographies; dates and credentials require primary-source confirmation where not specifically documented.
- Person-specific court, regulator, sanctions, professional-discipline and safety/environment register searches were not exhaustive.
- Hualilan technical and economic outcomes are project-level; no source establishes sole personal responsibility for outcomes.
- Company transition and counterpart disclosures are reported distinctly; no denial or allegation has been treated as an independent finding.
Yohann Bouchard
Interim Chief Executive Officer; Chief Operating Officer
Role FitAnalyst Inference · Medium materiality
Operations leader with multi-jurisdiction mining experience
Challenger’s biography states 25+ years in technical and operations roles, including Yamana operations in the Americas and San Juan province; New Gold’s 2024 filing says he ceased EVP/COO on 31 Jan 2025. This experience is role-relevant, but Challenger tenure is only two months at cutoff.
Responsibility not applicable · Career responsibility is documented, but the short Challenger tenure does not yet establish delivery.
Directors & Management · Yohann Bouchard biography
New Gold 2024 Annual Information Form · Executive cessation date
FailureDocumented · High materiality
Inherited Hualilan near-surface grade/model and toll-processing reset
Challenger’s July 2026 report states higher-grade continuity expected in the upper Norte and Sanchez pits did not materialize, attributing this to channel samples biasing the block model. It records 39,342t processed in May–June at about 88% gold recovery, followed by a transport/processing pause and a focus on the larger standalone development. The September counterparty update says fees for May/June were paid and the companies were discussing a new arrangement; the Oct 1 termination was later reported with a deferred US$1m fee. Bouchard joined after the model discrepancy was discovered and after the initial production campaign; no causal responsibility is established.
Role overlaps event; causation unproven · The short-lived current CEO role overlapped the Aug–Oct strategic reset; the sampling/model issue and initial production performance predate or largely precede his appointment.
Quarterly Activities Report · Quarterly Activities Report, mining and processing section
Austral Gold Provides Update on Casposo Toll Agreement · Update on toll agreement
Austral subsidiary and Challenger call it quits on toll agreement · Termination effective date and payment
Evidence gaps · 4
- Role chronology and education rely partly on issuer biographies; dates and credentials require primary-source confirmation where not specifically documented.
- Person-specific court, regulator, sanctions, professional-discipline and safety/environment register searches were not exhaustive.
- Hualilan technical and economic outcomes are project-level; no source establishes sole personal responsibility for outcomes.
- Company transition and counterpart disclosures are reported distinctly; no denial or allegation has been treated as an independent finding.
Sergio Rotondo
Executive Vice Chair
Company SuccessIssuer Reported · Medium materiality
Founded Golden Mining, which consolidated the Hualilan project
Challenger’s biography states Rotondo founded Golden Mining SA, which originally consolidated 100% of Hualilan; dated 2023 interview coverage also describes Golden Mining’s project acquisition and legal unblocking. This is a company-reported origin story; underlying title chain/legal resolutions were not separately reviewed.
Individual involvement documented · Issuer biography directly links him as founder to the company that consolidated the asset; it does not establish sole responsibility for subsequent exploration/approval.
Directors & Management · Sergio Rotondo biography
Interview with Sonia Delgado, Executive Director · Delgado describes Golden Mining operating structure
Company SuccessIssuer Reported · Medium materiality
Hualilan advanced to a toll-milling PFS and first production
During Rotondo’s executive tenure, Challenger published a 2025 toll-milling PFS estimating positive project economics under stated assumptions and in June 2026 poured first doré. The PFS was an externally authored technical study; Rotondo’s individual causal contribution is not isolated.
Role overlaps event; causation unproven · Executive vice chair tenure overlaps project strategy and advance; the reports do not connect him personally to mine design or operating decisions.
Completion of Hualilan Toll Milling Pre-Feasibility Study · PFS key outcomes, study approach
First Gold Pour at Hualilan · ASX release dated 2 June 2026
Evidence gaps · 4
- Role chronology and education rely partly on issuer biographies; dates and credentials require primary-source confirmation where not specifically documented.
- Person-specific court, regulator, sanctions, professional-discipline and safety/environment register searches were not exhaustive.
- Hualilan technical and economic outcomes are project-level; no source establishes sole personal responsibility for outcomes.
- Company transition and counterpart disclosures are reported distinctly; no denial or allegation has been treated as an independent finding.
Sonia Delgado
Executive Director
Role FitAnalyst Inference · Medium materiality
Local government and legal experience relevant to project and stakeholder management
Sources describe her legal practice, provincial mining-development and Secretary of Mining posts, followed by Challenger Argentina Country Manager and executive director. Dates for public offices are not provided, and no conflict-of-interest allegation or determination is identified in reviewed material.
Responsibility not applicable · Career overlap is documented at a broad level; exact dates and any recusals were not reviewed.
Directors & Management · Sonia Delgado biography
Interview with Sonia Delgado, Executive Director · Interview, career history
FailureDocumented · High materiality
Hualilan operating plan reset followed grade/model shortfall and ended toll agreement
Challenger’s 2026 quarterly report attributes weaker-than-expected near-surface grade continuity to channel-sample bias; it later paused toll processing and transitioned toward an on-site plant, and the Casposo toll contract ended on 1 Oct 2026. Delgado’s executive and Argentina manager tenure overlapped these developments, but evidence does not connect her individually to model construction, mining control or the decision to terminate tolling.
Role overlaps event; causation unproven · The event is company-level and no personal causal responsibility has been established.
Quarterly Activities Report · Quarterly Activities Report, mining/model discussion
Austral subsidiary and Challenger call it quits on toll agreement · Termination effective date
Evidence gaps · 4
- Role chronology and education rely partly on issuer biographies; dates and credentials require primary-source confirmation where not specifically documented.
- Person-specific court, regulator, sanctions, professional-discipline and safety/environment register searches were not exhaustive.
- Hualilan technical and economic outcomes are project-level; no source establishes sole personal responsibility for outcomes.
- Company transition and counterpart disclosures are reported distinctly; no denial or allegation has been treated as an independent finding.
Felipe Riquelme
Chief Financial Officer
Role FitAnalyst Inference · Medium materiality
Mining finance background aligns with CFO appointment
Challenger’s profile states 15+ years in finance leadership across multinational miners, including VP FP&A at Andean Precious Metals and senior finance roles at New Gold and Yamana. It describes capital management, reporting and governance expertise. Past titles/dates and credentials are not independently corroborated in the reviewed source.
Responsibility not applicable · Appointment and biography are documented, but no Challenger outcome can be attributed after two months in role.
Directors & Management · Felipe Riquelme biography
Challenger Gold sharpens Hualilan development pathway · CFO appointment
FailureDocumented · Medium materiality
CFO joined during funding and project-plan reset
Challenger was adjusting from toll processing toward a standalone Hualilan project after near-surface grade-model discrepancies and toll-campaign pause; a US$1m deferred fee arose under the termination agreement. Riquelme joined after the underlying mining/model issue and has had limited time to manage the reset.
Role overlaps event; causation unproven · No evidence connects him to prior planning assumptions or to the termination terms; role overlaps capital execution after Aug 10.
Quarterly Activities Report · Quarterly Activities Report
Austral subsidiary and Challenger call it quits on toll agreement · Toll agreement termination and deferred payment
Challenger Gold sharpens Hualilan development pathway · CFO appointment
Evidence gaps · 4
- Role chronology and education rely partly on issuer biographies; dates and credentials require primary-source confirmation where not specifically documented.
- Person-specific court, regulator, sanctions, professional-discipline and safety/environment register searches were not exhaustive.
- Hualilan technical and economic outcomes are project-level; no source establishes sole personal responsibility for outcomes.
- Company transition and counterpart disclosures are reported distinctly; no denial or allegation has been treated as an independent finding.
Luke Buchanan
Vice President, Project and Strategic Planning
Company SuccessIssuer Reported · Medium materiality
Technical-services remit covered reserves, studies and operating support at New Gold
New Gold’s 2025 management circular says Buchanan oversaw mine planning, resource/reserve estimates, technical studies and operating support, and reports he led technical reports and reserve preparation in 2024. These are employer-reported team/role outcomes and do not prove sole authorship or financial value.
Individual involvement documented · The issuer directly links him to the technical-services remit and listed 2024 results; other contributors are not separated.
New Gold 2024 Management Information Circular · 2024 results and biography
FailureDocumented · High materiality
Project planning responsibility now includes inherited grade and processing reset
The July 2026 report describes weaker-than-expected upper-pit grade continuity linked to channel-sample bias; Challenger then moved away from Casposo toll processing, terminating the agreement on 1 Oct. Buchanan joined on 10 Aug after the model issue and initial campaign. No evidence attributes the prior model or termination decision to him.
Role overlaps event; causation unproven · He was appointed during the strategic reset; no direct responsibility for antecedent model assumptions is established.
Quarterly Activities Report · Quarterly Activities Report
Austral subsidiary and Challenger call it quits on toll agreement · Termination effective date and payment
Directors & Management · Appointment date
Evidence gaps · 4
- Role chronology and education rely partly on issuer biographies; dates and credentials require primary-source confirmation where not specifically documented.
- Person-specific court, regulator, sanctions, professional-discipline and safety/environment register searches were not exhaustive.
- Hualilan technical and economic outcomes are project-level; no source establishes sole personal responsibility for outcomes.
- Company transition and counterpart disclosures are reported distinctly; no denial or allegation has been treated as an independent finding.
Company ownership
Investors & shareholders
Top registered shareholders
Register at 2026-03-25
| # | Investor / registered holder | % issued shares | Shares held |
|---|---|---|---|
| 1 | 18.47% | 450,394,680 | |
| 2 | 6.06% | 147,726,678 | |
| 3 | 5.64% | 137,500,000 | |
| 4 | 4.36% | 106,237,154 | |
| 5 | 4.31% | 105,095,657 | |
| 6 | 3.83% | 93,475,343 | |
| 7 | 3.40% | 83,000,000 | |
| 8 | 3.06% | 74,664,951 | |
| 9 | 2.87% | 69,954,167 | |
| 10 | 2.72% | 66,377,283 | |
| 11 | 1.84% | 44,817,700 | |
| 12 | 1.01% | 24,548,270 | |
| 13 | 0.96% | 23,500,000 | |
| 14 | 0.92% | 22,420,998 | |
| 15 | 0.84% | 20,366,187 | |
| 16 | 0.82% | 20,000,000 | |
| 17 | 0.75% | 18,269,717 | |
| 18 | 0.61% | 14,821,429 | |
| 19 | 0.58% | 14,226,562 | |
| 20 | 0.56% | 13,625,000 |
Sources & review notesEvidence checked through 2026-10-09
Coverage and limitations
- The ranked table lists registered accounts, not a complete or live beneficial-owner register. Nominee and custodian accounts may represent multiple investors.
- Later substantial-holder notices and capital changes after the register date have not been exhaustively reconciled in this batch snapshot.
Sources
- Annual Report to Shareholders
Challenger Gold Limited / ASX · Published 2026-04-30 · Accessed 2026-10-09
Top-20 registered holder table, ordinary-share/CDI account names, quantities and disclosed percentages.
2026/2026-04-30_Annual Report to Shareholders.pdf; PDF page 168, Additional Shareholder Information
Disclosed activity
Insider transactions
Trading activity1 buy · 0 sells shownNet cash last 12 months no tradesShow chartHide chart
On-market buyPlacement / plan subscriptionSaleMarker size = cash valueGrant, exercise, expiry or transferBars: cash bought (up) and sold (down) per month
| Date | Person / account | Activity / security | Quantity | Cash consideration | Price | Holding after |
|---|---|---|---|---|---|---|
| 2026-08-06 | Helikon Investments Limited, et al.
Details & evidence for Helikon Investments Limited, et al. on 2026-08-06As disclosed: Change is dilution only; relevant entities retained 20,853,359 shares.
Change in substantial holding ↗ | OtherFully paid ordinary shares | — | —Not Disclosed | — | 20,853,359 |
| 2025-06-11 | L1 Capital Pty Ltd
Details & evidence for L1 Capital Pty Ltd on 2025-06-11As disclosed: subscription as disclosed in ASX notice.
Becoming a substantial holder ↗ | SubscriptionFully paid ordinary shares | 187,500,000 | AUD 15,000,000.00 | AUD 0.08Calculated average | — |
| 2023-04-14 | Kris KnauerMoneybung Pty Ltd <Moneybung Family A/C>
Details & evidence for Kris Knauer on 2023-04-14As disclosed: 18,500,000 ordinary shares from vesting of performance shares.
Moneybung Pty Ltd <Moneybung Family A/C> · Kris Knauer substantial-holder associated account Notice of Change of Interests of Substantial Holder ↗ | VestingOrdinary shares | 18,500,000 | —Non Cash | — | — |
Disclosed holding observations5 dated positions
Initial, final and threshold notices describe positions; these are not counted as purchases or sales.
| Holding at | Person / group | Type / security | Quantity | Percentage |
|---|---|---|---|---|
| 2026-08-06 | Helikon Investments Limited, et al.
Details & evidence for Helikon Investments Limited, et al. on 2026-08-06Snapshot only; excluded from transaction totals.
Change in substantial holding ↗ | PositionFully paid ordinary shares | 20,853,359 | — |
| 2025-06-11 | L1 Capital Pty Ltd
Details & evidence for L1 Capital Pty Ltd on 2025-06-11Snapshot only; excluded from transaction totals.
Becoming a substantial holder ↗ | InitialFully paid ordinary shares | 187,500,000 | — |
| 2024-04-22 | Sergio Rotondo
Details & evidence for Sergio Rotondo on 2024-04-22Snapshot only; excluded from transaction totals.
Notice of Change of Interests of Substantial Holder ↗ | PositionOrdinary shares | 89,000,000 | — |
| 2023-06-21 | Sergio Rotondo
Details & evidence for Sergio Rotondo on 2023-06-21Snapshot only; excluded from transaction totals.
Notice of Change of Interests of Substantial Holder ↗ | PositionOrdinary shares | 89,000,000 | — |
| 2023-04-14 | Kris Knauer
Details & evidence for Kris Knauer on 2023-04-14Snapshot only; excluded from transaction totals.
Moneybung Pty Ltd <Moneybung Family A/C> · Kris Knauer substantial-holder associated account Notice of Change of Interests of Substantial Holder ↗ | PositionOrdinary shares | 70,778,666 | — |
The closest covered peers
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Narrative and provenance
Research & Sources
AI Analyst Report
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Sign in or enter a guest codeChronological evidenceSource-document inventory46 documents
CEL.AX daily close from local price databaseMarket Data · HighExtracted
Local latest_stock_prices database, provider market data provider via miners.collect_stock_prices: CEL.AX 25 September 2026 close A$1.985, volume 51,109. This is the latest eligible close.
- Document ID
- cel-2026-09-25-price
- Published UTC
- 2026-09-25T06:00:00Z
- Projects
- —
- Commodities
- —
Application for quotation of securitiesCorporate Action · HighPartial
Issuer Appendix 2A: 39,030 ordinary shares issued as debenture interest; 171,120,303 ordinary shares outstanding after issue and consolidation. Option and performance-right classes shown on p. 6.
- Document ID
- cel-2026-09-14-capital
- Published UTC
- 2026-09-14T06:54:00Z
- Projects
- —
- Commodities
- —
Half year accounts 30 June 2026Results · HighPartial
Issuer H1 accounts: June cash A$20.027m, A$16.438m inventory, A$21.005m convertible carrying value, H1 loss A$10.69m, A$4.678m toll asset impairment, A$1.82m inventory write-down. Subsequent placements and 20:1 consolidation disclosed.
- Document ID
- cel-2026-09-11-interim
- Published UTC
- 2026-09-11T03:55:00Z
- Projects
- hualilan
- Commodities
- gold
Hualilan roadmap targets production by early 2029Guidance · HighPartial
Issuer September roadmap: early 2029 Phase 1 heap leach production target; 35 km drilling, NI 43-101 early 2027, RIGI and financing work. The 2025 toll PFS is expressly superseded. Convertible refinancing was planned, not confirmed.
- Document ID
- cel-2026-09-10-roadmap
- Published UTC
- 2026-09-09T23:08:00Z
- Projects
- hualilan
- Commodities
- gold
Challenger Gold sharpens Hualilan development pathwayOperations · HighPartial
Issuer reset: selective shallow toll mining did not fit disseminated mineralization; four-month transition toward stockpiling and potential ore sale. A possible replacement ore purchase agreement was under assessment, not signed. New leadership and A$85m capital raising announced.
- Document ID
- cel-2026-08-13-reset
- Published UTC
- 2026-08-12T23:53:00Z
- Projects
- hualilan
- Commodities
- gold
Application for quotation of securities - CELCorporate Action · MediumExtracted
Issuer release: Application for quotation of securities - CEL. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-08-06-application-for-quotation-of-securities-cel
- Published UTC
- 2026-08-06T01:52:32Z
- Projects
- —
- Commodities
- —
Notification regarding unquoted securities - CELCorporate Action · MediumExtracted
Issuer release: Notification regarding unquoted securities - CEL. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-08-06-notification-regarding-unquoted-securities-cel
- Published UTC
- 2026-08-06T01:47:22Z
- Projects
- —
- Commodities
- —
Update - Notification regarding unquoted securities - CELCorporate Action · MediumExtracted
Issuer release: Update - Notification regarding unquoted securities - CEL. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-08-06-update-notification-regarding-unquoted-securities-cel
- Published UTC
- 2026-08-06T01:55:47Z
- Projects
- —
- Commodities
- —
Quarterly Activities ReportResults · HighExtracted
Issuer release: Quarterly Activities Report. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-07-31-quarterly-activities-report
- Published UTC
- 2026-07-31T08:12:10Z
- Projects
- —
- Commodities
- —
Quarterly Cashflow ReportResults · HighExtracted
Issuer release: Quarterly Cashflow Report. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-07-31-quarterly-cashflow-report
- Published UTC
- 2026-07-31T08:15:40Z
- Projects
- —
- Commodities
- —
Investor PresentationPresentation · MediumExtracted
Issuer release: Investor Presentation. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-06-10-investor-presentation
- Published UTC
- 2026-06-09T22:34:41Z
- Projects
- —
- Commodities
- —
Investor PresentationPresentation · MediumExtracted
Issuer release: Investor Presentation. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-06-09-investor-presentation
- Published UTC
- 2026-06-09T02:00:00Z
- Projects
- —
- Commodities
- —
First Gold Pour at HualilanOperations · MediumExtracted
Issuer release: First Gold Pour at Hualilan. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-06-01-first-gold-pour-at-hualilan
- Published UTC
- 2026-06-01T02:00:00Z
- Projects
- hualilan
- Commodities
- gold
Application for quotation of securities - CELCorporate Action · MediumExtracted
Issuer release: Application for quotation of securities - CEL. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-05-24-application-for-quotation-of-securities-cel
- Published UTC
- 2026-05-25T02:00:00Z
- Projects
- —
- Commodities
- —
Notification regarding unquoted securities - CELCorporate Action · MediumExtracted
Issuer release: Notification regarding unquoted securities - CEL. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-05-24-notification-regarding-unquoted-securities-cel
- Published UTC
- 2026-05-25T02:00:00Z
- Projects
- —
- Commodities
- —
Application for quotation of securities - CELCorporate Action · MediumExtracted
Issuer release: Application for quotation of securities - CEL. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-05-25-application-for-quotation-of-securities-cel
- Published UTC
- 2026-05-25T00:00:14Z
- Projects
- —
- Commodities
- —
Notification regarding unquoted securities - CELCorporate Action · MediumExtracted
Issuer release: Notification regarding unquoted securities - CEL. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-05-25-notification-regarding-unquoted-securities-cel
- Published UTC
- 2026-05-25T02:00:00Z
- Projects
- —
- Commodities
- —
Completion of Hualilan Pre-Feasibility StudyStudy · HighExtracted
Issuer release: Completion of Hualilan Pre-Feasibility Study. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-05-18-completion-of-hualilan-pre-feasibility-study
- Published UTC
- 2026-05-18T00:24:32Z
- Projects
- hualilan
- Commodities
- gold
Pre-Feasibility Study Summary ReportStudy · HighExtracted
Issuer release: Pre-Feasibility Study Summary Report. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-05-18-pre-feasibility-study-summary-report
- Published UTC
- 2026-05-18T00:24:37Z
- Projects
- hualilan
- Commodities
- gold
Proposed issue of securities - CELCorporate Action · MediumExtracted
Issuer release: Proposed issue of securities - CEL. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-05-18-proposed-issue-of-securities-cel
- Published UTC
- 2026-05-18T02:00:00Z
- Projects
- —
- Commodities
- —
Annual Report to ShareholdersResults · HighExtracted
Issuer release: Annual Report to Shareholders. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-04-30-annual-report-to-shareholders
- Published UTC
- 2026-04-30T06:56:13Z
- Projects
- —
- Commodities
- —
Quarterly Activities ReportResults · HighExtracted
Issuer release: Quarterly Activities Report. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-04-30-quarterly-activities-report
- Published UTC
- 2026-04-30T07:23:19Z
- Projects
- —
- Commodities
- —
Quarterly Cashflow ReportResults · HighExtracted
Issuer release: Quarterly Cashflow Report. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-04-30-quarterly-cashflow-report
- Published UTC
- 2026-04-30T07:21:44Z
- Projects
- —
- Commodities
- —
Toll Pit Infill Drilling ResultsOperations · MediumExtracted
Issuer release: Toll Pit Infill Drilling Results. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-04-30-toll-pit-infill-drilling-results
- Published UTC
- 2026-04-30T02:00:00Z
- Projects
- hualilan
- Commodities
- gold
Application for quotation of securities - CELCorporate Action · MediumExtracted
Issuer release: Application for quotation of securities - CEL. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-03-25-application-for-quotation-of-securities-cel
- Published UTC
- 2026-03-25T01:00:00Z
- Projects
- —
- Commodities
- —
Notification of cessation of securities - CELCorporate Action · MediumExtracted
Issuer release: Notification of cessation of securities - CEL. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-03-25-notification-of-cessation-of-securities-cel
- Published UTC
- 2026-03-25T01:00:00Z
- Projects
- —
- Commodities
- —
Notification regarding unquoted securities - CELCorporate Action · MediumExtracted
Issuer release: Notification regarding unquoted securities - CEL. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-03-25-notification-regarding-unquoted-securities-cel
- Published UTC
- 2026-03-25T01:00:00Z
- Projects
- —
- Commodities
- —
Ore Haulage from Hualilan CommencesOperations · MediumExtracted
Issuer release: Ore Haulage from Hualilan Commences. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-02-26-ore-haulage-from-hualilan-commences
- Published UTC
- 2026-02-26T01:00:00Z
- Projects
- hualilan
- Commodities
- gold
Quarterly Activities ReportResults · HighExtracted
Issuer release: Quarterly Activities Report. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-01-30-quarterly-activities-report
- Published UTC
- 2026-01-30T06:47:32Z
- Projects
- —
- Commodities
- —
Quarterly Cashflow ReportResults · HighExtracted
Issuer release: Quarterly Cashflow Report. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-01-30-quarterly-cashflow-report
- Published UTC
- 2026-01-30T06:45:27Z
- Projects
- —
- Commodities
- —
Application for quotation of securities - CELCorporate Action · MediumExtracted
Issuer release: Application for quotation of securities - CEL. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2026-01-21-application-for-quotation-of-securities-cel
- Published UTC
- 2026-01-21T01:00:00Z
- Projects
- —
- Commodities
- —
Initial Blast Completed at HualilanOperations · MediumExtracted
Issuer release: Initial Blast Completed at Hualilan. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2025-11-20-initial-blast-completed-at-hualilan
- Published UTC
- 2025-11-20T01:00:00Z
- Projects
- hualilan
- Commodities
- gold
Quarterly Activities ReportResults · MediumExtracted
Issuer release: Quarterly Activities Report. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2025-10-31-quarterly-activities-report
- Published UTC
- 2025-10-31T07:12:51Z
- Projects
- —
- Commodities
- —
Quarterly Cashflow ReportResults · MediumExtracted
Issuer release: Quarterly Cashflow Report. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2025-10-31-quarterly-cashflow-report
- Published UTC
- 2025-10-31T07:11:36Z
- Projects
- —
- Commodities
- —
Hualilan Toll Milling Drilling and Explosives ContractsOperations · MediumExtracted
Issuer release: Hualilan Toll Milling Drilling and Explosives Contracts. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2025-10-21-hualilan-toll-milling-drilling-and-explosives-contracts
- Published UTC
- 2025-10-21T01:00:00Z
- Projects
- hualilan
- Commodities
- gold
Final EIA Amendment Granted for Toll MillingOperations · MediumExtracted
Issuer release: Final EIA Amendment Granted for Toll Milling. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2025-09-29-final-eia-amendment-granted-for-toll-milling
- Published UTC
- 2025-09-29T02:00:00Z
- Projects
- hualilan
- Commodities
- gold
Half Year Accounts 30 June 2025Results · MediumExtracted
Issuer release: Half Year Accounts 30 June 2025. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2025-09-12-half-year-accounts-30-june-2025
- Published UTC
- 2025-09-12T06:21:49Z
- Projects
- —
- Commodities
- —
Explosives Permit Granted for Hualilan Toll MillingOperations · MediumExtracted
Issuer release: Explosives Permit Granted for Hualilan Toll Milling. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2025-08-18-explosives-permit-granted-for-hualilan-toll-milling
- Published UTC
- 2025-08-18T02:00:00Z
- Projects
- hualilan
- Commodities
- gold
Quarterly Activities ReportResults · MediumExtracted
Issuer release: Quarterly Activities Report. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2025-07-31-quarterly-activities-report
- Published UTC
- 2025-07-31T02:00:00Z
- Projects
- —
- Commodities
- —
Quarterly Cashflow ReportResults · MediumExtracted
Issuer release: Quarterly Cashflow Report. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2025-07-31-quarterly-cashflow-report
- Published UTC
- 2025-07-31T02:00:00Z
- Projects
- —
- Commodities
- —
Refurbishment of Toll Milling Plant on TrackOperations · MediumExtracted
Issuer release: Refurbishment of Toll Milling Plant on Track. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2025-07-30-refurbishment-of-toll-milling-plant-on-track
- Published UTC
- 2025-07-30T02:00:00Z
- Projects
- hualilan
- Commodities
- gold
Final Testwork Underway Ahead of Full-Scale PFSOperations · MediumExtracted
Issuer release: Final Testwork Underway Ahead of Full-Scale PFS. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2025-07-09-final-testwork-underway-ahead-of-full-scale-pfs
- Published UTC
- 2025-07-08T23:38:04Z
- Projects
- hualilan
- Commodities
- gold
Final Testwork Underway Ahead of Full-Scale PFSOperations · MediumExtracted
Issuer release: Final Testwork Underway Ahead of Full-Scale PFS. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2025-07-08-final-testwork-underway-ahead-of-full-scale-pfs
- Published UTC
- 2025-07-08T02:00:00Z
- Projects
- hualilan
- Commodities
- gold
Completion of Hualilan Toll Milling Pre-Feasibility StudyStudy · MediumExtracted
Issuer release: Completion of Hualilan Toll Milling Pre-Feasibility Study. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2025-06-04-completion-of-hualilan-toll-milling-pre-feasibility-study
- Published UTC
- 2025-06-04T04:58:15Z
- Projects
- hualilan
- Commodities
- gold
Pre-Feasibility Study Summary ReportStudy · MediumExtracted
Issuer release: Pre-Feasibility Study Summary Report. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2025-06-04-pre-feasibility-study-summary-report
- Published UTC
- 2025-06-04T04:58:25Z
- Projects
- hualilan
- Commodities
- gold
Hualilan Gold Project Scoping StudyStudy · MediumExtracted
Issuer release: Hualilan Gold Project Scoping Study. Reviewed available PDF text; superseded assumptions are not carried into current valuation.
- Document ID
- cel-2023-11-08-hualilan-gold-project-scoping-study
- Published UTC
- 2023-11-07T22:47:09Z
- Projects
- hualilan
- Commodities
- gold
Evidence facts56
150000 tonnes
None1 US$ million
None100 percent
None50 percent
None1101 US$ million
None3500 US$/oz
None58 US$/oz
None1.35 US$/lb
None0.7 US$/A$
None267 US$ million
None34.8 percent
None62.861 million tonnes
None690 US$ million
None1491 US$ million
None1543 oz
None6670 oz
None39342 tonnes
None88 percent
None2.735 million oz AuEq
None20.027 A$ million
None1101 US$ million
None11.506 A$ million
None11.381 A$ million
None20.027 A$ million
None21.759 A$ million
Noneearly 2029 None
None35000 metres
None15 US$ million
None2026-09-14 None
None3500 US$/oz
None1800 US$ million
None85 A$ million
None4 months
None20.027 A$ million
None16.438 A$ million
None21.005 A$ million
None10.69 A$ million
None4.678 A$ million
None1.82 A$ million
None61.8 A$ million
None2 A$ million
None171120303 shares
None18125008 options
None7386334 options
None100000 options
None12493134 options
None1000000 options
None1041213 rights
None39030 shares
None1.985 A$/share
2026-09-2551109 shares
2026-09-252.8 A$/share
2026-08-132.59 A$/share
2026-08-142.05 A$/share
2026-09-102.07 A$/share
2026-09-111.925 A$/share
2026-09-14Conflicts requiring judgment1
- current Hualilan study
May 2026 standalone PFS is current; September roadmap expressly supersedes 2025 toll PFS.