Welcome to our dedicated page for Austral Gold news (Ticker: AGLDF), a resource for investors and traders seeking the latest updates and insights on Austral Gold stock.
Austral Gold Limited (OTCQB: AGLDF) is an established gold and silver mining producer with operations in Chile and Argentina, and its news flow reflects both operational activity and corporate developments. Company announcements describe a portfolio built on three pillars: production, exploration, and equity investments, and this structure is evident in the range of updates released to the market.
On this page, readers can follow mine-level news such as production guidance in gold-equivalent ounces, plant refurbishments, restarts of commercial production, and changes in processing circuits at the Guanaco and Casposo mines. Recent releases have covered the restart of production at the 100%-owned Casposo Mine in San Juan Province, mining service agreements for open-pit development at Julieta and Mercado, and operational updates at the Guanaco Mine in Chile.
Austral Gold also issues technical and strategic updates, including Mineral Reserve and Mineral Resource estimates for Casposo prepared in accordance with NI 43-101 and the JORC (2012) Code, as well as updated corporate presentations that summarize operations and growth plans. In addition, the company reports on financing and equity investment activities, such as the conversion of convertible notes into shares, related party loan repayments using Unico Silver shares, and changes in its equity portfolio.
Investors and followers of AGLDF can use this news feed to review the company’s official disclosures on production expectations, mine performance, technical reporting, and capital markets transactions, all drawn from Austral Gold’s own releases to the ASX, TSX Venture Exchange, and other disclosure platforms.
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.
Austral Gold has announced a change in the address of its share registry office. As of May 23, 2024, Computershare Investor Services Pty has relocated to 6 Hope St, Ermington, NSW 2115. Telephone numbers and postal addresses remain unchanged. All documentation from member organizations, security holders, and other parties must now be submitted to this new address.
Austral Gold and New Dimension Guernsey have agreed to sell their interests in the Sierra Blanca Project to Unico Silver. Austral Gold owns 54.69% of Sierra Blanca, and New Dimension owns 45.31%. The consideration for the sale includes 5,000,000 shares of Unico and reimbursement of certain administrative fees up to A$20,000. As a result, Austral Gold's interest in Unico will increase from 11.62% to 12.33%. The completion of the sale is subject to conditions such as Unico obtaining shareholder approval and the entry into a deed of assignment regarding a royalty over the Sierra Blanca permits. These conditions must be satisfied by or before July 31, 2024.
Austral Gold has filed its Q1 2024 Quarterly Activity Report, showcasing its financial performance and operations in the gold production sector. The company's report is available for public access on various platforms, highlighting its commitment to transparency and accountability.
Austral Gold announced that its Argentine subsidiary, AGASA, secured an unsecured related party loan of AR$1,400 million from Banco Hipotecario. The loan will be used to repay a bridge loan from Consultores Assets Management SA. The terms include a 6-month loan term, an interest rate of 5-day average Badlar rate + 2%, and no security provided.