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Austral Gold Announces New Related Party Loan
Newsfileยท2025-08-19 00:33

Group 1 - Austral Gold Limited has secured a new US$1.3 million unsecured related party loan from Banco Hipotecario, which is associated with the company's largest shareholder and Chair, Eduardo Elsztain [1][2]. - The proceeds from the new loan will be used to repay a previous loan of AR$1,600 million (approximately US$1.25 million) obtained from Banco Hipotecario, which was due on August 1, 2025 [2][8]. - The material terms of the new loan include a 12-month term, an interest rate of 11%, and a repayment schedule consisting of 12 monthly installments, with the first installment due 120 days after receipt of the loan [8]. Group 2 - Following the transaction, Austral Gold's overdraft balance with Banco Hipotecario will be approximately ARS$75 million (around US$58,000) [4]. - Austral Gold is focused on building a portfolio of quality assets in the Americas, emphasizing production, exploration, and equity investments as its strategic pillars [5].