Just took the plunge and bought at 0.059 this morning after...

Just took the plunge and bought at 0.059 this morning after watching from the sidelines for some time.
Hopefully the drop is end of yr tax selling and it gets a lift soon.
I'm a very long term investor so time will tell.
GLTA
Cheers
Sparky
Following in RED BOLD is highlighted and what caught my eye

Dear Shareholder,
The past 15 months to the end of March 2024 has seen significant progress made by the Company in what have
been challenging market conditions. As I write the gold price is trading above US$2200 per ounce and I am
looking forward to an exciting next 12 months as we move Hualilan closer to production.
Progress over the past year includes the completion of a positive Scoping Study following the release of an
updated Mineral Resource Estimate (MRE) at Hualilan, Argentina, and a significant first Mineral Resource
Estimate (MRE) in Ecuador.
Challenger continues to make considerable progress on its growth strategy, with the Scoping Study confirming
Hualilan has the potential, when in production, to generate significant cashflow at an all in stustaining cash cost
(ASIC) that would place Hualilan well inside the bottom cost quartile of all gold producers. Additionally, we
increased our global MRE of gold equivilents substantially, with the maiden MRE in Ecuador taking the
Compnay’s total resource base to 7.3 million ounces of gold equivalent resources1
.
Our Hualilan gold project has inherent optionality given that the MRE starts at surface and contains a high grade
core of 8.1 Mt at 5.0 g/t Au, 17.4 g/t Ag, 1.8% Zn, within the larger MRE of 60.5 Mt. The successful Scoping Study
focused on the high-grade core of the Hualilan MRE to present a low startup-capital project capable of being
funded by the Company given the difficult market conditions at the time of the Study.
The study presents an initial economic evaluation of the Hualilan project and suggests, in addition to Hualilan
becoming one of the lowest-cost ASX producers, it has a rapid payback period, and average annual production
of 116,000 oz gold (141,000 oz gold equivalent2
). The Study ignores residual value of the 1.7Moz AuEq3
remaining after the SS LOM due to the high-grade/ low-tonnage focus and is not considered to reflect the full
value of the asset. With market conditions looking like they have turned the next phases of the study will be
focus on the practicality and economics of a larger open pit operation while continuing to investigate and
optimise a concurrent or sequential UG mining option. We expect this to improve on what is already an
outstanding outcome. Highlights of the Scoping Study are included in the Directors Report.
In June 2023 we announced an initial MRE for the Company's El Guayabo Gold Copper Project, in El Oro Province,
Ecuador. This MRE is based on 34 drill holes, for 22,572 metres at our 100% owned El Guayabo concession. This
initial resource drilling program, and resultant MRE, focused primarily on the GY-A and GY-B anomalies.
Mineralisation remains open in both directions along strike and at depth at both GY-A and GY-B and there is
clear potential for the MRE to grow significantly via additional drilling.
The remainder of 2024 will see Challenger continue to advance Hualilan towards production with a PreFeasibility Study underway, which we expect to flow seamlessly into our first Feasibility Study.
Finally, I take this opportunity to thank all our shareholders, my fellow board members, the management team,