A$85M Placement to Boost Hualilan Project
Raising A$85 million through a strategic placement, Challenger Gold sets its sights on advancing the Hualilan Gold Project in Argentina. Significant contributions were made by Peter Marrone and associated investors.
Appointed as the Non-Executive Chairman-elect of Challenger Gold, Peter Marrone currently serves as Chairman and CEO of Allied Gold. Yohann Bouchard, who previously held the position of Chief Operating Officer at Yamana Gold, will now serve as the Chief Operating Officer at Challenger.
Funding will support the completion of the Hualilan Definitive Feasibility Study and resource exploration drilling. Preparations for standalone development are also in the pipeline. Approximately 708 million new shares are included in the placement at A$0.12 per share, with free-attaching options exercisable at A$0.156.
Strategic Leadership Appointments
Pending shareholder approval at an Extraordinary General Meeting in June 2026, Marrone’s appointment is anticipated to bring valuable experience in mine development and financing to Challenger. This experience is seen as critical as Challenger transitions towards production.
Yohann Bouchard’s appointment as COO adds over 25 years of operational expertise, particularly in Argentina’s San Juan Province, where the Hualilan project is located. His role will be pivotal as the company accelerates its development plans.
Eduardo Elsztain, Challenger’s Chairman, remarked, “The addition of Peter Marrone to the Challenger Board as Chairman-elect and Yohann Bouchard as COO is transformational for the strategic direction of Challenger.”
Challenger’s largest institutional shareholders, along with new global mining investors, have strongly backed the placement. This financial endorsement follows the company’s recent Pre-Feasibility Study, which indicated a post-tax NPV5 of US$1.1 billion and a pre-tax IRR of 45% at a US$3,500/oz gold price.
Proceeds from the placement will enhance resource growth, initiate exploration drilling, and support select capital works at the Hualilan project. The company is poised to conduct its first significant extension drilling campaign in several years.
Supported by existing shareholders and new global mining investors, the strategic placement aims to advance the Hualilan project aggressively. Exploration across the broader district-scale project footprint is set to accelerate.
As the project moves toward production, additional executive appointments are expected. This expansion aligns with Challenger’s ambition to secure a leading position in the gold mining industry.
