Austral Gold Obtains US$7M Secured Loan for Casposo Plant
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 (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) ha ottenuto un prestito di 7 milioni di dollari USA da Banco San Juan S.A. per la sua controllata Casposo Argentina. Il prestito sarà erogato in cinque tranche nel corso di diversi mesi, partendo con 1,5 milioni di dollari USA. I fondi saranno utilizzati per ristrutturare l'impianto di Casposo per trattare il materiale proveniente dal progetto Hualilan di Challenger Gold, a seguito di un recente Memorandum d'Intesa vincolante.
Le condizioni del prestito includono un tasso d'interesse annuale del 8% e un periodo di rimborso di 24 mesi con un periodo di grazia di 6 mesi. Il prestito è garantito da un pegno sull'impianto di Casposo e da un'ipoteca sul terreno in cui si trova l'impianto di lavorazione.
Austral Gold (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) ha conseguido un préstamo de 7 millones de dólares estadounidenses de Banco San Juan S.A. para su filial Casposo Argentina. El préstamo se desembolsará en cinco tramos a lo largo de varios meses, comenzando con 1.5 millones de dólares estadounidenses. Los fondos se utilizarán para renovar la planta de Casposo para procesar material del Proyecto Hualilan de Challenger Gold, tras un reciente Memorando de Entendimiento vinculante.
Los términos del préstamo incluyen un tasa de interés anual del 8% y un período de reembolso de 24 meses con un período de gracia de 6 meses. El préstamo está garantizado por una garantía de prenda sobre la planta de Casposo y una hipoteca sobre la tierra donde se ubica la planta de procesamiento.
오스트랄 골드 (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF)는 자회사인 카스포소 아르헨티나를 위해 700만 달러의 대출을 Banco San Juan S.A.로부터 확보했습니다. 이 대출은 여러 달에 걸쳐 다섯 개의 분할금으로 지급되며, 첫 번째 지급은 150만 달러입니다. 자금은 카스포소 플랜트를 개조하여 챌린저 골드의 후알리란 프로젝트에서 오는 자재를 처리하는 데 사용될 예정이며, 이는 최근 발표된 구속력 있는 양해각서에 따른 것입니다.
대출 조건은 연이율 8%과 24개월의 상환 기간, 6개월의 유예 기간을 포함합니다. 대출은 카스포소 플랜트에 대한 담보 보증과 가공 플랜트가 위치한 농지에 대한 저당으로 보장됩니다.
Austral Gold (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) a obtenu un prêt de 7 millions de dollars américains de Banco San Juan S.A. pour sa filiale Casposo Argentina. Le prêt sera déboursé en cinq tranches sur plusieurs mois, en commençant par 1,5 million de dollars américains. Les fonds seront utilisés pour rénovation de l'usine de Casposo afin de traiter le matériel du projet Hualilan de Challenger Gold, suite à un récent mémorandum d'accord contraignant annoncé.
Les conditions du prêt incluent un taux d'intérêt annuel de 8% et une période de remboursement de 24 mois avec une période de grâce de 6 mois. Le prêt est garanti par un gage sur l'usine de Casposo et une hypothèque sur le terrain où se trouve l'usine de traitement.
Austral Gold (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) hat ein Darlehen in Höhe von 7 Millionen US-Dollar von der Banco San Juan S.A. für ihre Tochtergesellschaft Casposo Argentina gesichert. Das Darlehen wird in fünf Tranchen über mehrere Monate ausgezahlt, beginnend mit 1,5 Millionen US-Dollar. Die Mittel sollen verwendet werden, um die Casposo-Anlage umzubauen, um Material aus dem Hualilan-Projekt von Challenger Gold zu verarbeiten, nach einem kürzlich angekündigten verbindlichen Memorandum of Understanding.
Die Darlehensbedingungen beinhalten einen jährlichen Zinssatz von 8% und eine Rückzahlungsfrist von 24 Monaten mit einer Karenzzeit von 6 Monaten. Das Darlehen ist durch eine Pfandgarantie über die Casposo-Anlage und eine Hypothek auf das Ackerland, wo die Aufbereitungsanlage liegt, gesichert.
- Secured US$7M funding for plant refurbishment
- Strategic partnership with Challenger Gold for material processing
- Favorable loan terms with 8% interest rate and 6-month grace period
- Additional debt burden on company's balance sheet
- Conditional disbursement requiring US$0.5M company contribution
Sydney, Australia--(Newsfile Corp. - December 23, 2024) - Established gold producer Austral Gold Limited (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) ("Austral" or the "Company") is pleased to announce that Casposo Argentina Ltd - Sucursal Argentina (Casposo), a branch of the Company's subsidiary Casposo Argentina Mining Ltd., obtained a US
Casposo plans to use the proceeds to refurbish the Casposo Plant to support the recently announced Binding Memorandum of Understanding with ASX-listed Challenger Gold to process mineralised material from Challenger's Hualilan Project.
Material terms of the Loan:
Amount: US
$7.0 million to be disbursed as follows:Within 5 business days of signing: US
$1.5 million 60-75 days after signing: US
$2.5 million 30-45 days after the prior disbursement: US
$1 million 30-45 days after the prior disbursement: US
$0.5 million 30-45 days after the prior disbursement: US
$1.5 million
Key Precedent Conditions:
Each disbursement, except for the initial US
$1.5 million , is subject to complying with the allocation of funds as defined in Use of proceeds.The second disbursement is also subject to Casposo Argentina Mining Ltd. contributing US
$0.5M to Casposo between November 2024 to February 2025.
Interest Rate:
8% per annum;Term: 24 months per disbursement, including 6-months grace period (monthly repayments);
Use of proceeds: Capital Expenditures and Working Capital required to refurbish the Casposo Plant;
Collateral: Pledge Guarantee over Casposo's Plant and Mortgage over the farmland where the processing plant is located.
About Austral Gold Limited
Austral is a growing gold and silver mining producer building a portfolio of quality assets in the Americas based on three strategic pillars: production, exploration and equity investments. Austral continues to lay the foundation for its growth strategy by advancing its attractive portfolio of producing and exploration assets.
For more information, please visit the Company's website at www.australgold.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Release approved by the Company's Chief Executive Officer of Austral Gold, Stabro Kasaneva.
For additional information please contact:
| David Hwang | Jose Bordogna |
| Joint Company Secretary | Chief Financial Officer and Joint Company Secretary |
| Austral Gold Limited | Austral Gold Limited |
| david@confidantpartners.com | jose.bordogna@australgold.com |
| +61 433 292 290 | +61 466 892 307 |
Forward Looking Statements
Statements in this news release that are not historical facts are forward-looking statements. Forward-looking statements are statements that are not historical, and consist primarily of projections - statements regarding future plans, expectations and developments. Words such as "expects", "intends", "plans", "may", "could", "potential", "should", "anticipates", "likely", "believes" and words of similar import tend to identify forward-looking statements. Forward-looking statements in this news release include the proposed use of proceeds, meeting the key precedent conditions, and the Company's anticipation that Casposo will process mineralised material from Challenger's Hualilan Project.
All of these forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation, uncertainty of exploration programs, development plans and cost estimates, commodity price fluctuations; political or economic instability and regulatory changes; currency fluctuations, the state of the capital markets especially in light of the effects of the novel coronavirus, uncertainty in the measurement of mineral resources and reserves and other risks and hazards related to the exploration of a mineral property, and the availability of capital. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Austral cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. Austral's forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and Austral does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234914
FAQ
What is the purpose of Austral Gold's (AGLDF) US$7M loan from Banco San Juan?
What are the key terms of AGLDF's December 2024 loan agreement?
How will the US$7M loan disbursement for AGLDF be structured?
What collateral has AGLDF provided for the Banco San Juan loan?
