CEL - Challenger Gold

[mullokintyre]

Ok, so it appears the toll processing agreement has secured funding via Austral Gold.
No timeframe for the refurbishment.
Mick

 

[mullokintyre]

CEL has released an updated MRE for its South American deposits in Ecuador.
It has doubled to 9.1 MT to give about 7 million ounces of gold with with about half the deposits drilled, so will probably get bigger.
On a normal day two weeks ago, this would have generated a good boost in its SP.
Today, meh, opened down but has since recovered.
Tough market this one.
Mick

 

[The Triangle]

CEL has released an updated MRE for its South American deposits in Ecuador.
It has doubled to 9.1 MT to give about 7 million ounces of gold with with about half the deposits drilled, so will probably get bigger.
On a normal day two weeks ago, this would have generated a good boost in its SP.
Today, meh, opened down but has since recovered.
Tough market this one.
Mick

Don't be absurd.

I am fairly certain every single release... literally every single one... Has resulted in a SP drop in the past 2 years.

Heck. A takeover would probably result in a SP drop

 

[Sean K]

This is six months late and half the exploration target they were ramping last year. Unbelievable.

But, this has got to be worth something. Some of the high grade stuff is close to surface which is good, but it's going to cost a lot to dig this all up. A half a billion tons of digging.

 

[mullokintyre]

This is six months late and half the exploration target they were ramping last year. Unbelievable.

But, this has got to be worth something. Some of the high grade stuff is close to surface which is good, but it's going to cost a lot to dig this all up. A half a billion tons of digging.

They will pick a start point that maximises yield, so the early years will generate the most cash.
Then like all the other goldies, they spend a lot of time and money looking for the next big thing to keep them going.
Mick

 

[Sean K]

They will pick a start point that maximises yield, so the early years will generate the most cash.
Then like all the other goldies, they spend a lot of time and money looking for the next big thing to keep them going.
Mick

Not sure why Lumina wouldn't buy it. It either makes Cangjeros a 30Moz + project with a 60 year LOM or they double the size of the plant they're planning.

 

[Sean K]

Please explain likely inbound. No news.

 

[mullokintyre]

Please explain likely inbound. No news.

View attachment 197946

Sold half my holding this morning.
Up 70% on my average buy in price, so will take the profit and sit on it a while.
Mick
EDIT: I lied, it was only 50% profit.

 

[mullokintyre]

CEL still powering along.
Another 52 week high this morning.
Going to hold on till I am at least a million in profit.
Mick

 

[mullokintyre]

CEL still powering along.
Another 52 week high this morning.
Going to hold on till I am at least a million in profit.
Mick

Got a speeding ticket from the headmaster.
CEL management could provide no reason for the meteoric rise in SP.
At least not publicly.
I am guessing there is someone sniffing around.
Maybe a takeover in the offing?
Mick