Austral Gold Secures a US$3.5M Related Party Credit Facility
Austral Gold Secures a US$3.5M Related Party
Credit Facility
Sydney, Australia--(Newsfile Corp. - August 30, 2024) -
Established gold producer Austral Gold
Limited
(ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) (
"Austral"
or the
"Company"
) is pleased to
announce that it has entered into an unsecured credit facility agreement with Inversiones Financieras del
Sur SA ("IFISA") for up to US$3.5 million.
IFISA is the Company's largest shareholder and the Company's directors, Eduardo Elsztain and Saul
Zang, are also directors and shareholders of IFISA.
Material terms of the credit facility:
Credit Facility Amount: Up to US$3.5 million;
Interest Rate: 9% per annum;
Purpose: proceeds will be used to provide working capital for Guanaco Compania Minera SPA,
the operating company of Austral;
Due date: 29 January 2026, or such other date as is previously and mutually agreed in writing
between the parties;
Security: the credit facility is unsecured.
The transaction reflects the ongoing financial support from the Company's major shareholder while the
Company's vendor completes the repair of the HRC 800 equipment, as announced in the June 2024
Quarterly report.
About Austral Gold
Austral Gold 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
Joint Company Secretary
Austral Gold Limited
+61 433 292 290
Jose Bordogna
Chief Financial Officer and Joint Company Secretary
Austral Gold Limited
+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 use of proceeds from the credit facility and 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/221616