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Austral Gold Limited (ASX: AGD, TSXV: AGLD, OTCQB: AGLDF) is a well-established gold and silver mining producer headquartered in Sydney, Australia. The company is actively building a robust portfolio of quality assets across the Americas through strategic pillars in production, exploration, and equity investments.
Austral Gold's core business revolves around the exploration, development, and production of gold and silver. The company possesses a diversified range of producing and exploration assets, which significantly contribute to its growth strategy. Recently, Austral Gold announced that its Argentine subsidiary, Austral Gold Argentina SA (AGASA), secured a substantial unsecured related party loan from Banco Hipotecario, amounting to AR$1,400 million (approximately USD 1.6 million). This loan is intended for repaying a related party bridge loan from Consultores Assets Management SA (CAMSA).
The company filed its Q4 2023 Quarterly Activity Report, highlighting its continued progress and strategic initiatives which can be accessed on its official website and other financial information platforms.
In another significant development, Austral Gold, in partnership with New Dimension Guernsey Limited, agreed to sell their combined interests in the Sierra Blanca Project to ASX-listed Unico Silver. The total consideration for this transaction includes 5,000,000 shares of Unico and reimbursement of specific administrative fees. This transaction is part of Austral’s strategy to enhance its asset portfolio and strengthen its equity investments.
Austral Gold is committed to expanding its operational footprint while maintaining sustainable mining practices. The company has been proactive in selling and acquiring assets to align with its long-term growth objectives, such as the sale of SCRN Properties Ltd, which owned the Pingüino Project, to Unico for approximately USD 10 million in cash, shares, and options.
Austral Gold's management team, led by CEO Stabro Kasaneva, continues to demonstrate a strong commitment to advancing the company's interests and delivering value to its shareholders. The company also recently announced the relocation of its share registry office, ensuring better service delivery to its stakeholders.
For further details on Austral Gold's projects, financials, and strategic directions, please visit the company's website at www.australgold.com.
Austral Gold has executed a Toll Processing Agreement with Challenger Gold through its subsidiary Casposo. The agreement includes processing 150,000 tons annually of Challenger's Hualilan project material at Casposo's Plant in Argentina, with a guaranteed capacity of 450,000 tons over three years.
The deal creates a new revenue stream comprising: a US$3 million fixed payment (US$2M by January 2025, US$1M in two years), a US$110,000 monthly fee, and an incentive fee tied to recovery margins (20-30%). Operations are set to begin in H2 2025, supported by a recently secured US$7 million loan from Banco San Juan for plant refurbishment.
Austral Gold (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) has secured a US$7 million loan from Banco San Juan S.A. for its subsidiary Casposo Argentina The loan will be disbursed in five tranches over several months, starting with US$1.5 million. The funds will be used to refurbish the Casposo Plant to process material from Challenger Gold's Hualilan Project, following a recently announced Binding Memorandum of Understanding.
The loan terms include an 8% annual interest rate and a 24-month repayment period with a 6-month grace period. The loan is secured by a pledge guarantee over Casposo's Plant and a mortgage over the farmland where the processing plant is located.
Austral Gold announces its subsidiary, Casposo Argentina Mining, has signed a Binding MOU with Challenger Gold to process mineralised material from the Hualilan Project at the Casposo Plant in Argentina. The three-year agreement includes:
- A US$3 million fixed payment (US$2M within 15 days, US$1M in two years)
- A US$110,000 monthly fee
- An incentive fee based on recovery margins
- Guaranteed processing of 150,000 tons annually (450,000 tons total)
Operations are expected to commence in H2 2025, with Casposo responsible for securing funding for plant refurbishment by July 31, 2025. The agreement includes an exclusivity clause until June 30, 2025.
Austral Gold (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) has announced the filing of its Q3 2024 Quarterly Activity Report. The report has been made available on the ASX website, SEDARPlus, and the company's official website. The announcement was approved by CEO Stabro Kasaneva.
Austral Gold (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) has secured a US$2 million loan from its largest shareholder, Inversiones Financieras del Sur SA (IFISA). The loan terms include:
- 7% annual interest rate
- 24-month term
- Collateral of up to 20,190,791 Unico Silver shares
- Repayment in cash or Unico shares
The loan is considered a 'related party' transaction due to shared directors. Shareholder approval is required for the collateral security. The loan aims to support working capital needs, primarily due to production delays caused by equipment repairs at the Guanaco-Amancaya mine complex.
Austral Gold (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF), an established gold producer, has announced the filing of its 2024 Half Year Report for the six months ended June 30, 2024. The complete report is now available on various platforms including the ASX, SEDAR+, OTC Markets, and the company's official website. This filing demonstrates Austral Gold's commitment to transparency and compliance with regulatory requirements. The report likely contains important financial and operational data for the first half of 2024, providing investors and stakeholders with insights into the company's performance during this period.
Austral Gold (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) has announced the arrival of repaired high-pressure grinding roll equipment (HRC 800) at its Guanaco-Amancaya mine. The installation is scheduled for the week of September 2, with commissioning expected on September 9 under vendor supervision. This equipment is crucial for the Heap Reprocessing Project and has been the main reason for production delays in the first half of 2024.
CEO Stabro Kasaneva stated that the company is integrating heap leaching with agitation leaching, using material from heaps and ore from Amancaya and Guanaco mines. Despite the delays, Austral Gold maintains its 2024 production guidance of 17,000 to 18,000 gold equivalent ounces (GEOs).
Austral Gold (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF), an established gold producer, has announced a delay in filing its 2024 Half Year Report. The report, originally due on August 30, 2024, could not be completed on time due to unforeseen circumstances affecting both the company and its auditor. Austral Gold has committed to finalizing the report as soon as possible and will provide updates in line with its continuous disclosure obligations. This delay highlights potential challenges in the company's financial reporting process, which may be of interest to investors and regulatory bodies.
Austral Gold (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) has secured a US$3.5 million unsecured credit facility from its largest shareholder, Inversiones Financieras del Sur SA (IFISA). The facility, with a 9% annual interest rate, is due on January 29, 2026, and will provide working capital for Guanaco Compania Minera SPA, Austral's operating company. This arrangement demonstrates ongoing financial support from the major shareholder while the company awaits the repair of the HRC 800 equipment, as mentioned in the June 2024 Quarterly report. Notably, Austral's directors, Eduardo Elsztain and Saul Zang, are also directors and shareholders of IFISA.
Austral Gold (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) has announced the completion of a further sale of Unico Silver shares by its subsidiary Austral Gold Canada (AGCL). The transaction, executed on August 6, 2024, involved the sale of 8,139,023 Unico shares to Inversiones Financieras del Sur SA Sociedad Anonima (IFISA), Austral's largest shareholder, at A$0.1863 per share. The total transaction value amounted to A$1,516,300 (US$987,869/CDN$1,367,804). This sale price was determined based on the higher of the five-day volume-weighted average price and the closing price on the day before the transaction. No finder's fees were associated with this deal.
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