Established gold producer
Austral Gold Ltd.'s announces updates to its loan arrangements with related parties. A loan of up to US$3 million provided by Inversiones Financieras del Sur S.A. , the Company's largest shareholder, was announced on 15 September 2023 of which IFISA has funded US$2 million . Mr. Eduardo Elsztain and Mr. Saúl Zang, two of the Company's directors, also loaned US$850,000 and US$150,000 respectively through loan agreements under the same terms as the IFISA Loan 2. It should also be noted that Mr. Elsztain has control over IFISA. A US$1 million loan, announced 13 March 2023 from Mr. Elsztain and Mr. Zang , has been extended to 31 March 2024. A US$0.555 million loan, announced 23 May 2023 from IFISA , has been extended to 10 February 2024, with a revised i...