Business
Austral Gold Announces New Related Party Loan
Sydney, Australia--(Newsfile Corp. - August 18, 2025) - Austral Gold Limited (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) ("Austral" or the "Company"), an established gold producer, is pleased to advise that that its Argentine subsidiary Austral Gold Argentina SA (AGASA), has obtained a new US$1.3 million unsecured related party loan from Banco Hipotecario (BH). BH is related to Austral's largest shareholder and Chair, Eduardo Elsztain. The proceeds of the loan will be applied against ...
About this update from Austral Gold Limited
[{"type":"text","content":"Sydney, Australia--(Newsfile Corp. - August 18, 2025) - Austral Gold Limited (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) ("Austral" or the "Company"), an established gold producer, is pleased to advise that that its Argentine subsidiary Austral Gold Argentina SA (AGASA), has obtained a new US$1.3 million unsecured related party loan from Banco Hipotecario (BH). BH is related to Austral's largest shareholder and Chair, Eduardo Elsztain.","length":463,"tagName":"p"},{"type":"text","content":"The proceeds of the loan will be applied against the AR$1,600 million loan (approximately to US$1.25 million at 18 August 2025) previously obtained and subsequently renewed from BH, as announced on 30 April 2024 and 30 January 2025, respectively, which became due on 1 August 2025.","length":281,"tagName":"p"},{"type":"text","content":"Material terms of the loan agreement:","length":37,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Loan Amount: US$1.3 million;","length":28,"tagName":"p"}]},{"val":[{"type":"text","content":"Loan Term: 12 months;","length":21,"tagName":"p"}]},{"val":[{"type":"text","content":"Interest Rate: 11%;","length":19,"tagName":"p"}]},{"val":[{"type":"text","content":"Repayment schedule: 12 consecutive monthly instalments: first installment due in 120 days from receipt of the loan;","length":115,"tagName":"p"}]},{"val":[{"type":"text","content":"Use of Proceeds: Repayment of the previous BH loan of AR$1,600 million, accrued interest, and structuring fees; and","length":115,"tagName":"p"}]},{"val":[{"type":"text","content":"Security: the loan is unsecured.","length":32,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":330,"olType":false},{"type":"text","content":"Following this transaction, the Company's overdraft balance with BH will be approximately ARS$75 million (US$~58,000).","length":122,"tagName":"p"},{"type":"text","content":"About Austral Gold","length":18,"tagName":"p"},{"type":"text","content":"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.","length":333,"tagName":"p...