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Augusta Gold Corp. (TSX: G) (OTCQB: AUGG) (FSE: 11B) is a dynamic exploration and development company headquartered in Vancouver, BC. The company is focused on creating long-term value for stakeholders through the strategic development of its key assets: the Reward and Bullfrog gold projects. Both projects are situated in the prolific Bullfrog mining district, about 120 miles north-west of Las Vegas, Nevada, near Beatty, Nevada.
The company's core business revolves around the exploration and development of gold resources. Augusta Gold has been actively advancing its projects, which include measured and indicated mineral resources estimated at 1,635,990 ounces of gold, with inferred resources totaling 285,000 ounces. These estimates are based on rigorous scientific and technical evaluations by independent qualified persons under recognized standards such as National Instrument 43-101.
Augusta Gold's management team and board of directors bring a wealth of experience and a proven track record of success in financing and developing mining assets. This seasoned team is committed to leveraging the fully permitted Reward Project and the brownfield Bullfrog Project as foundational assets to build a new mid-tier gold company. The company also continually seeks accretive mergers and acquisitions (M&A) opportunities to enhance its portfolio and deliver robust shareholder value.
Recent achievements include a three-month extension of the maturity date of its loan with Augusta Investments Inc., the company's largest shareholder. This extension underscores strong financial backing and strategic support from major stakeholders.
Augusta Gold's focus on stakeholder value is reflected in its transparent communication and regular updates to shareholders. The next significant event is the Annual General Meeting scheduled for September 7, 2023. Details of the meeting have been mailed to shareholders of record, reinforcing the company's commitment to shareholder engagement and transparency.
For more detailed information about Augusta Gold Corp. and its projects, please visit their official website at www.augustagold.com.
Augusta Gold Corp. (TSX: G) (OTCQB: AUGG) has announced an extension of its loan maturity date with Augusta Investments Inc. to April 30, 2025. The company will pay an extension fee of US$71,748.00 to the lender. Additionally, the lender will provide an Additional Loan Amount of US$5,479,941.03, covering all interest and fees payable through September 30, 2024, which Augusta Gold will immediately repay.
Interest payable from October 1, 2024, through the new maturity date will require approval from disinterested shareholders, as per Toronto Stock Exchange requirements. If this approval is not obtained by April 30, 2025, the principal amount may become immediately due upon the lender's written notice.
Augusta Gold Corp. (TSX: G, OTCQB: AUGG) announced results of the Feasibility Study for its 100% owned, construction-ready Reward Project in Nevada. Highlights include:
- Proven and Probable Mineral Reserves of 370,000 oz gold grading 0.86 g/t
- Conventional open pit, heap leach operation with 7.6-year mine life
- Average annual gold production of 39,000 oz
- All-in Sustaining Cost of $1,328/oz
- Pre-production capital cost of $89.7 million
- At $1,975/oz gold price: After-tax NPV (5%) of $50.6M, IRR of 16.6%
The company has initiated a strategic review process to maximize shareholder value and agreed to extend its loan term to February 2025. The Reward Project has all required permits for construction and could be in production within 12 months of starting full-scale construction.
Augusta Gold has announced an extension of the maturity date for its loan with Augusta Investments to September 30, 2024. This extension required the company to pay an extension fee of US$30,399. This decision aims to provide additional time for Augusta Gold to manage its financial obligations under the loan agreement. The original loan agreement's specifics and the financial implications of this extension were not detailed in the press release.
Augusta Gold Corp. (TSX: G; OTCQB: AUGG; FSE: 11B) announced the approval of all matters presented at its annual shareholder meeting on June 20, 2024. Key resolutions included the election of the company’s five director nominees, re-appointment of Davidson & Company LLP as auditors, and approval of unallocated options under the current stock option plan.
All five director nominees received overwhelming support, with Richard Warke garnering 99.75% of votes, Donald Taylor 99.86%, Lenard Boggio 99.88%, John Boehner 99.41%, and Daniel Earle 99.76%. The re-appointment of Davidson & Company LLP and the authorization for directors to fix their remuneration were also sanctioned.
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