If you're a Fire King player you can use it with your Phoenix to prevent it from destroying all S/Ts, saving your field spell as a result alongside your monsters. This card can also be used with Armor Exe for a 4 starred 2800 beatstick for 1 turn. I will definitely be seeking in playing this x3
Gandora has 2 effects: Banish cards and gain XP during your main phase, and at your end phase it will go to graveyard if normal summoned. So activate its effect of banishing cards first, then activate chalice to negate the effect of going to the graveyard, after that turn Gandora remains permanently on the field.
^Sorry, banish cards and gain ATK, then chalice activates afterwards does not affect its ATK gained because the banish card effect has already been performed without any negation.