CEL - Challenger Gold

[mullokintyre]

Someone must have read my last post and wanted to get on board. LOL

Something fishy here.

View attachment 183363

THE PFS was due out in September.
Either its coming out early, or there are people in the know.
Ether way, I am happy.
BTL did a presentation on it a week or so ago.
He suggested that it really needed a new team of people driving it, people with experience in bringing on a big ore body to mining stage.
Maybe there are some existing miners with that sort of experience running their fingers over it.
Reckons that Argentina will become flavour of the month.
He suggested they were trying to divest the Ecudorian projects to make it more presentable to another entity.
Also said with only 5.7 million in the bank, they will need more capital soon (unless they sell the Ecudorian interests).
mick

 

[Sean K]

THE PFS was due out in September.
Either its coming out early, or there are people in the know.
Ether way, I am happy.
BTL did a presentation on it a week or so ago.
He suggested that it really needed a new team of people driving it, people with experience in bringing on a big ore body to mining stage.
Maybe there are some existing miners with that sort of experience running their fingers over it.
Reckons that Argentina will become flavour of the month.
He suggested they were trying to divest the Ecudorian projects to make it more presentable to another entity.
Also said with only 5.7 million in the bank, they will need more capital soon (unless they sell the Ecudorian interests).
mick

I only really bought this because they did have an experienced resource developer as the MD. KK turned Citadel into a $1b company on TO.

I can not believe I'm seriously considering averaging down (well down) on this at the moment. Looks like sentiment has changed but I might be better putting it out of my mind so I can sleep at night.

 

[The Triangle]

I only really bought this because they did have an experienced resource developer as the MD. KK turned Citadel into a $1b company on TO.

I can not believe I'm seriously considering averaging down (well down) on this at the moment. Looks like sentiment has changed but I might be better putting it out of my mind so I can sleep at night.


View attachment 183630

Averaged down, got in got out, got in, averaged down again. always in the red with this one. but this tactic paid off (althought not exactly handomly) with the last two international gold juniors.

2 worries....

Last prezo the double double god king said something along the lines of 'we could put out a pre-feas and see the SP drop 25%'..... wtf.... I think he was trying to make a joke about the state of the market but... scoping study was at 1700 gold, so surely anything they put out now would be an order of magnitude better.

Running out of money and doing another placement for 5-10 million at 4 cents or there abouts and options at a price in the single digits.

Actually 3 worries....

he pretty much said the new strategy was to start some tiny pits now - so when are we going to hear about this?

 

[Sean K]

Averaged down, got in got out, got in, averaged down again. always in the red with this one. but this tactic paid off (althought not exactly handomly) with the last two international gold juniors.

2 worries....

Last prezo the double double god king said something along the lines of 'we could put out a pre-feas and see the SP drop 25%'..... wtf.... I think he was trying to make a joke about the state of the market but... scoping study was at 1700 gold, so surely anything they put out now would be an order of magnitude better.

Running out of money and doing another placement for 5-10 million at 4 cents or there abouts and options at a price in the single digits.

Actually 3 worries....

he pretty much said the new strategy was to start some tiny pits now - so when are we going to hear about this?

Same. I've been in, out, in, and now totally out. Even though it could recover further, the company doesn't deserve my money. I'm reneging on Rusty's policy of leaving emotion at the door.

 

[mullokintyre]

I only have a relatively small bundle, so its not a game breaker.
Going to hold on in the hope that the minuscule profit turns into a worthwhile one.
Mick

 

[The Triangle]

I only have a relatively small bundle, so its not a game breaker.
Going to hold on in the hope that the minuscule profit turns into a worthwhile one.
Mick

Currently in a trading Halt pending and "off take" deal and a no surprise capital raising.

There's been probably 3 years of nothing but bad market reactions to everything challenger has done. I'm wondering what's going to make this announcement any different to the last 20 announcements that sent the share price lower and lower and lower.

What's killed these Juniors the last few years is that none of them have a credible path to production as they've all focused on being taken over because they're all run by accountants, and broker fake geologists. Maybe just maybe challenger is going to present a path to production that is credible next week? Or they're just going to reverse Ponzi us investors and do a capital raising it three cents a share and come up with some junk "memorandum of understanding"

Who knows!

 

[Sean K]

Currently in a trading Halt pending and "off take" deal and a no surprise capital raising.

There's been probably 3 years of nothing but bad market reactions to everything challenger has done. I'm wondering what's going to make this announcement any different to the last 20 announcements that sent the share price lower and lower and lower.

What's killed these Juniors the last few years is that none of them have a credible path to production as they've all focused on being taken over because they're all run by accountants, and broker fake geologists. Maybe just maybe challenger is going to present a path to production that is credible next week? Or they're just going to reverse Ponzi us investors and do a capital raising it three cents a share and come up with some junk "memorandum of understanding"

Who knows!

It was only earlier this year that there were multiple gold companies and institutions in the data room and they were going to do a non-dilutive finance deal to pay for Hualupian capex. And, what's happened to drilling at El Gordo and the upgraded MRE to Canadian standards?

 

[mullokintyre]

It was only earlier this year that there were multiple gold companies and institutions in the data room and they were going to do a non-dilutive finance deal to pay for Hualupian capex. And, what's happened to drilling at El Gordo and the upgraded MRE to Canadian standards?

Announced a cap raising (surprise surprise), plus a toll processing agreement that will generate cash flow that will allow the development of their own larger processing plant.
Sounds good in theory.
Market a tad ho hum in response.
No change.
Will hold on for a while yet as its only down about 1% on my buy price.
Mick

 

[The Triangle]

Announced a cap raising (surprise surprise), plus a toll processing agreement that will generate cash flow that will allow the development of their own larger processing plant.
Sounds good in theory.
Market a tad ho hum in response.
No change.
Will hold on for a while yet as its only down about 1% on my buy price.
Mick

It's hard to believe anything the company says any forecast the company makes any timelines the company suggests.

This investor has cel tied up. He will get it all for 6 it 7 cents. I figured one of the gold miners would bid 10ish cents for it. Doubtful.

 

[mullokintyre]

I do not plan to particpate in the SPP.
Although you can apply for parcels up to 30k worth of shares at a 17% discount to latest SP before halt, the placement is capped at 1 million, so there is going to be massive scale backs.
So will have to give them money they sit on for awhile before getting a refund.
Not worth the trouble for such a puny return.
Can invest money somewhere more lucrative.
Mick

 

[The Triangle]

I do not plan to particpate in the SPP.
Although you can apply for parcels up to 30k worth of shares at a 17% discount to latest SP before halt, the placement is capped at 1 million, so there is going to be massive scale backs.
So will have to give them money they sit on for awhile before getting a refund.
Not worth the trouble for such a puny return.
Can invest money somewhere more lucrative.
Mick

I would bet my left and right nut that you'll be able to buy again at mid to low 4s. I'm trying to remember - but almost always the price goes below the SPP within several months for these juniors. I also will not touch the SPP. It's too small. A joke of a raising.

CEL don't have enough money to do anything - and listing in Canada will probably incinerate more money to achieve nothing. Canadian listed miners don't trade higher than Aussie listed ones and Canadian companies move slower than frozen maple syrup. Thinking about fortuna who bought out CHZ last year - I don't think they've done anything with that asset yet - if an Aussie company bought them out they'd have shovels in the ground by now. Suppose its a longwinded way of saying i think CEL is going to be out of money again very shorty and in the exact same position... raising at 3 cents per share or reccomending a lowball takeover at 5 cents which KK will pump up as being a "50% premium to the current share price" or something like that. Worst part about a Canadain listing is that we're almost certainly going to end up with DEI hires on the board.

The elephant in the room is that we've got no clue who is running the company and calling the shots. Strategy changes all the time. The pre-feas was supposed to be out last month which should have shown a massive increase in mining ounces and a gold price 30-50% higher than the scoping study.... But it never came.... only saw a brief comment made by Kris Klown in August in one of the videos about releasing a pre-fease and seeing shareprice drop. Still waiting on the offtake and royalty financing that he said 'would be done' by the first quarter of 2024! And we know other companies was sniffing around the books and nothing has come from it? And there was the other comment that blackrock wanted to divest equador assets or something along those lines. Cool - is blackrock the MD??

 

[mullokintyre]

So I gather then three corners one that you are not happy with Challenger then?
Mick

 

[mullokintyre]

cel getting some love today.
Up 8% on reasonable volume.
Really needs to kick above .06 where my exit is.
Have already had a call from a Sydney underwriter asking if I knew about the SPP and was I going to participate.
She seemed a little deflated when I said no.
I just want to make a quick 15% profit and be out.
Lot of buyers, but at prices below current.
Mick

 

[mullokintyre]

CEL gets Environmental approval for mine construction in Argentina.
Up 5% today, but then pretty much anything with even a mention of gold in its sales pitch is up today.
Don't understand why they did not organise the Cap Raise until after this approval was announced.
The lucky instos and sophs who got in on the cap raise must be amazed at their luck!.
Slimy bastards!
Going to put in a sell at 0.07 to give me enough profit to assuage my angst.
Mick

 

[mullokintyre]

More drilling results out.
The results are pretty minuscule, but at least its not in West Africa!
Mick

 

[Sean K]

More drilling results out.
The results are pretty minuscule, but at least its not in West Africa!
Mick
View attachment 187854

When was the PFS on Hualilan due? September?

I think the updated Ecuador MRE was supposed to be due in November - now.

Their official exploration target of CV-A and B is 440-470Mt @ .5g/t, which is almost double the tonnage of the initial MRE for El Guayabo for 4.5Moz.

So, KK is ramping again, or it should come in at around 9Moz.

But, he does have a habit of exaggerating a tad.

TSX listing in August? LOL

KK couldn't lie in bed straight.

 

[The Triangle]

When was the PFS on Hualilan due? September?

I think the updated Ecuador MRE was supposed to be due in November - now.

Their official exploration target of CV-A and B is 440-470Mt @ .5g/t, which is almost double the tonnage of the initial MRE for El Guayabo for 4.5Moz.

So, KK is ramping again, or it should come in at around 9Moz.

But, he does have a habit of exaggerating a tad.

TSX listing in August? LOL

KK couldn't lie in bed straight.

View attachment 187855

Still waiting on the Ecuador resource update. Think that was supposed to be the end of November. So they've got a few days left until they disappoint investors again by not releasing one. Even if they do release one it's going to be massive tons at a garbage grade which will not move the needle. I don't know if it is critical to the TSX listing or not.

Share price at 4.5 cents. Took a little longer than expected but I do expect it to go below the raising price which is what always happens with these companies.

Either this board has a reputation of being the worst board in the world or Argentina is a serious no-no zone for investment. The deposit they have is better than a lot of deposits and I'm stunned that no one has lobbed a takeover. Each month it goes by I am stunned more and more. I have zero confidence in this board and this management team and I am just waiting on a buyout but the money incineration that is going on means the longer one waits the more dilution is coming. At least chz and orecorp had the smarts to cut back and wait.

 

[Sean K]

Still waiting on the Ecuador resource update. Think that was supposed to be the end of November. So they've got a few days left until they disappoint investors again by not releasing one. Even if they do release one it's going to be massive tons at a garbage grade which will not move the needle. I don't know if it is critical to the TSX listing or not.

Share price at 4.5 cents. Took a little longer than expected but I do expect it to go below the raising price which is what always happens with these companies.

Either this board has a reputation of being the worst board in the world or Argentina is a serious no-no zone for investment. The deposit they have is better than a lot of deposits and I'm stunned that no one has lobbed a takeover. Each month it goes by I am stunned more and more. I have zero confidence in this board and this management team and I am just waiting on a buyout but the money incineration that is going on means the longer one waits the more dilution is coming. At least chz and orecorp had the smarts to cut back and wait.

Whatever happens, this has been very entertaining.

I think they'll end up giving Ecuador to Lumina for about $2 and ounce.

And by some miracle, they'll have to give away Argentina for a pittance to someone with a mill close by.

 

[The Triangle]

So much for the November resource update for Ecuador...Another timeline missed.

I did like their last investment video where kris klown said a major shareholder called him and said a puppet on a stick could do a better job.

 

[Sean K]

So much for the November resource update for Ecuador...Another timeline missed.

I did like their last investment video where kris klown said a major shareholder called him and said a puppet on a stick could do a better job.

And I thought this Toll Milling plan had already been executed.

But, reading the previous ann on this it read 'expected to facilitate', so wasn't actually a done deal.

Today:

October: