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Almadex Announces Early Repayment of Gold Loan
VANCOUVER, British Columbia, May 22, 2025 (GLOBE NEWSWIRE) -- Almadex Minerals Ltd. (“ A...
About this update from Almadex Minerals Ltd.
[{"type":"text","content":"Almadex Announces Early Repayment of Gold Loan\n\n\n\n VANCOUVER, British Columbia, May 22, 2025 (GLOBE NEWSWIRE) -- Almadex Minerals Ltd. (“\n \n Almadex\n \n ” or the “\n \n Company\n \n ”) (TSX-V: “DEX”) announces that Almaden Minerals Ltd. (“\n \n Almaden\n \n ”) has notified the Company of the early repayment of the outstanding gold loan pursuant to the secured gold loan agreement, as amended (“\n \n Gold Loan\n \n ”), between Almaden and the Company (see press releases dated June 27, 2024 and May 14, 2019).\n \n\n Under the terms of the Gold Loan, the “Gold Loan Value” was fixed as of May 13, 2025 and the outstanding loan balance (including accrued interest and standby fees) determined to be USD$5,194,354 (the “\n \n Loan Amount\n \n ”). Almaden will repay the Loan Amount by physical delivery of gold bullion of 99.99% purity to the Company. The delivery of gold shall be completed after Almaden receives the final payment on the sale of its Rock Creek mill (the “\n \n Mill\n \n ”) to Metals Exploration PLC pursuant to the purchase agreement dated February 28, 2025 (see press release of Almaden dated March 3, 2025), which is expected to be on or before August 31, 2025 (the “\n \n Settlement Date\n \n ”). The amount of gold (the “\n \n Borrowed Gold\n \n ”) to be delivered by Almaden will be determined based on the prevailing London Bullion Market Association AM gold price in U.S. dollars on the business day prior to the Settlement Date. In addition to the Borrowed Gold, Almaden will return the undrawn portion of the Gold Loan, consisting of 397 ounces of gold bullion.\n \n\n The Loan Amount is secured by a security interest and first lien on certain equipment related to the Mill (collectively, the “\n \n Security\n \n ”). Upon repayment of the Loan Amount by Almaden to the Company, the Security shall be deemed fully released and discharged.\n \n\n\n About Almadex\n \n\n Almadex Minerals Ltd. is an exploration company that holds a large mineral portfolio consisting of projects and NSR royalties in Canada, the U.S., and Mexico. This portfolio is the direct result of many years of prospecting and deal-making by Almadex’s management team. The Company owns severa...