Austral Gold Stock Price, News & Analysis

Austral Gold (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF), an established gold producer, has announced the filing of its Q2 2024 Quarterly Activity Report. The complete report is now available on the Australian Securities Exchange (ASX) website, SEDAR, and the company's official website. This filing represents a key disclosure for investors and stakeholders, providing insights into the company's operational and financial performance for the second quarter of 2024. Austral Gold's CEO, Stabro Kasaneva, approved the release of this information, underlining its significance for the company's transparency and communication with the market.

Austral Gold (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) has announced that its subsidiary, Austral Gold Canada (AGCL), has entered into a share purchase agreement with the company's largest shareholder, IFISA. The agreement involves the sale of 8,139,023 shares of Unico Silver , currently owned by AGCL, to IFISA. The transaction is considered a 'related party transaction' and is subject to TSX Venture Exchange approval.

The sale price will be the greater of A$0.1863 per share (based on the five-day VWAP) or the closing price on the day before the closing date. The deal is expected to generate approximately A$1,516,300 (US$1,000,000/CDN$1,381,000) in net proceeds, which will be used as general working capital for the company's operations.

Austral Gold announced the filing of a Technical Report on the Casposo-Manantiales Mine Complex, prepared according to NI 43-101 and JORC 2012 standards, with an effective date of April 30, 2024. This report, available on SEDAR+, ASX, and the company's website, includes essential details about the mine's geology, sampling methods, and drilling techniques.

Key highlights include:

• Four main deposits: Manantiales, Mercado, Julieta, and B-Vein.
• Mineralization is still open, indicating potential for further exploration.
• Extensive historical drilling data totaling 122,290 meters, primarily from Diamond Drill Holes.
• Quality Assurance and Control measures including certified standards and duplicate assays.

The report confirms no significant changes since the previous announcement on July 17, 2024, and includes an updated JORC Table 1 to meet ASX Listing Rule 5.8.1 requirements.

The Competent Person, Marcos Valencia, has verified the data and consents to its publication, ensuring the report's credibility and compliance with industry standards.

Austral Gold (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) has announced an updated Mineral Resource Estimate for its 100% owned Casposo-Manantiales Mine Complex in San Juan, Argentina. The estimate, prepared by independent Qualified Person Marcos Valencia, shows:

- Measured + Indicated resources of 1,068,469 tonnes at 2.71 g/t Au and 106.48 g/t Ag, containing 93,016 oz Au and 3,657,882 oz Ag

- Inferred resources of 662,291 tonnes at 5.02 g/t Au and 65.74 g/t Ag, containing 106,961 oz Au and 1,399,848 oz Ag

The update is based on drilling and exploration activities from 2020-2022 and recent metallurgical test work. It brings Austral closer to a decision on restarting mining operations at Casposo.

Austral Gold announced a significant change in its management team. Chelsea Sheridan has resigned as Company Secretary following her departure from the Automic Group. The company has appointed David Hwang and Jose Bordogna as Joint Company Secretaries. Hwang, a corporate lawyer and Managing Director of Confidant Partners, will handle ASX communications. Bordogna, the current CFO, will take on additional responsibilities. Additionally, the company's registered office has been relocated to Level 5, 137-139 Bathurst Street, Sydney, NSW 2000.

Austral Gold (ASX: AGD, TSXV: AGLD, OTCQB: AGLDF) announced that its subsidiary, Austral Gold Canada (AGCL), has completed the sale of shares in Unico Silver to two company directors, Eduardo Elsztain and Saul Zang. The transaction, based on a share purchase agreement dated June 18, 2024, involved AGCL selling 5,458,833 Unico shares to Elsztain and 963,323 shares to Zang at a price of A$0.16 per share, resulting in total proceeds of A$1,027,545 (US$682,393/CDN$935,014). No finder's fees were incurred. A clerical error in a prior announcement was corrected, clarifying that Zang purchased 963,323 shares instead of the previously reported 135,829 shares.

Austral Gold has entered into an agreement to sell a portion of its shares in Unico Silver to two directors, Eduardo Elsztain and Saul Zang.

The transaction involves the sale of 5,458,833 and 135,829 Unico Shares to Elsztain and Zang, respectively, at a price determined by the higher of A$0.141 per share or the five-day volume-weighted average price (VWAP) prior to the closing date.

The transaction, being a 'related party transaction,' necessitates TSX Venture Exchange approval but is exempt from formal valuation and minority approval due to its value being less than 25% of Austral Gold's market capitalization.

The Board of Directors, excluding Elsztain and Zang, approved the agreement, deeming the terms reasonable.

Upon completion, the net proceeds of approximately A$905,000 will be utilized as general working capital.

Austral Gold (ASX: AGD, TSXV: AGLD, OTCQB: AGLDF) has announced a delay in the operational start of its HRC 800 equipment at the Heap Reprocessing Project. Originally expected to be operational by May 2024, the installation is now projected for late June 2024. This delay has resulted in lower-than-expected Q2 2024 production, prompting a revision in the 2024 production guidance from 24,000-28,000 gold equivalent ounces (GEOs) to 18,000-20,000 GEOs.

To address the resulting cash shortfall, Austral sold a portion of its minority equity investments in public mining companies, generating US$2.27M. The company is also exploring additional options to source further cash, including selling non-core assets.

Austral Gold announced successful results from its 2024 Annual General Meeting on May 27, 2024.

Shareholders approved all resolutions listed in the Notice of Meeting from April 28, 2024.

The meeting saw a strong voter turnout, with all resolutions passed via poll. Austral Gold, trading under the symbols AGD (ASX), AGLD (TSXV), and AGLDF (OTCQB), reaffirmed its strategic goals and commitments to shareholders.