• Freitag, 22 November 2024
  • 02:25 Uhr Frankfurt
  • 01:25 Uhr London
  • 20:25 Uhr New York
  • 20:25 Uhr Toronto
  • 17:25 Uhr Vancouver
  • 12:25 Uhr Sydney

Austral Gold Secures New US$2.2M Related Party Loan Facility

28.03.2024  |  Newsfile

Sydney, March 27, 2024 - Established gold producer Austral Gold Ltd. (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) (Austral or the Company) is pleased to announce a new unsecured related party loan facility from Consultores Assets Management S.A. ("Consultores") for up to US$2.2 million and the receipt of US$1 million on 5 March 2024. Consultores is related to Austral's largest shareholder and controlled by its Chair, Eduardo Elsztain.

Material terms of the loan agreement:

  • Loan Amount: up to US$2.2 million

  • Loan Term: 6 months; loan may be repaid earlier at the Company's option;

  • Interest Rate: 9% per annum;

  • Use of Proceeds: working capital;

  • Security: the loan is unsecured.

The terms and conditions of the loan agreements are standard for facilities of this nature, are unsecured and are, in the view of the non-involved Austral directors, as favorable, if not more so, than if the parties were dealing at arm's length. The cash received under the loan facility has been used for working capital purposes.

In addition, the maturity of the following unsecured related party loans, were amended to 30 September 2024:

Related Party Loans Principal Outstanding (US$'M) Interest Rate (%) Prior Maturity Date New Maturity Date
IFISA Loan 1 0.55 9% 10-Feb-2024 30-Sep-2024
IFISA Loan 2 2.00 9% 12-March-2024 30-Sep-2024
Mr. Elsztain Loan 1 0.85 9% 31-March-2024 30-Sep-2024
Mr. Elsztain Loan 2 0.85 9% 12-March-2024 30-Sep-2024
Mr. Zang Loan 1 0.15 9% 31-March-2024 30-Sep-2024
Mr. Zang Loan 2 0.15 9% 12-March-2024 30-Sep-2024
Related Party Loans 4.55 9%

About Austral Gold

Austral Gold is a growing gold and silver mining producer building a portfolio of quality assets in the Americas. 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 Chief Executive Officer of Austral Gold, Stabro Kasaneva.

For additional information please contact:

Jose Bordogna
Chief Financial Officer
Austral Gold Ltd.
jose.bordogna@australgold.com
+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 in this news release include Austral continues to lay the foundation for its growth strategy by advancing its attractive portfolio of producing and exploration assets.

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/203387


Bewerten 
A A A
PDF Versenden Drucken

Für den Inhalt des Beitrages ist allein der Autor verantwortlich bzw. die aufgeführte Quelle. Bild- oder Filmrechte liegen beim Autor/Quelle bzw. bei der vom ihm benannten Quelle. Bei Übersetzungen können Fehler nicht ausgeschlossen werden. Der vertretene Standpunkt eines Autors spiegelt generell nicht die Meinung des Webseiten-Betreibers wieder. Mittels der Veröffentlichung will dieser lediglich ein pluralistisches Meinungsbild darstellen. Direkte oder indirekte Aussagen in einem Beitrag stellen keinerlei Aufforderung zum Kauf-/Verkauf von Wertpapieren dar. Wir wehren uns gegen jede Form von Hass, Diskriminierung und Verletzung der Menschenwürde. Beachten Sie bitte auch unsere AGB/Disclaimer!



Mineninfo
Austral Gold Ltd.
Bergbau
A0MJVL
AU000000AGD4
Copyright © Minenportal.de 2006-2024 | MinenPortal.de ist eine Marke von GoldSeiten.de und Mitglied der GoldSeiten Mediengruppe
Alle Angaben ohne Gewähr! Es wird keinerlei Haftung für die Richtigkeit der Angaben und der Kurse übernommen!
Informationen zur Zeitverzögerung der Kursdaten und Börsenbedingungen. Kursdaten: Data Supplied by BSB-Software.