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Financings

Austral obtains $1M (U.S.) loan from Argentine bank

By The Northwire Desk — AI Analysis Sep 01, 2025 · 04:03 AGLD · 0.04 Austral Gold Limited
AGLD · Price

Executive Summary

  • Austral Gold’s Casposo Argentina branch secured a new US$1 million short‑term loan from Banco San Juan SA.
  • The loan will fund working capital as the Casposo processing plant moves from refurbishment into commissioning.
  • Loan terms: 180‑day term, 8.5% annual interest, unsecured, repayment at maturity from mineral export proceeds.

Key Details

  • Loan amount: US$1 million (unsecured).
  • Lender: Banco San Juan SA (Argentina).
  • Term: 180 days from disbursement.
  • Interest rate: 8.5% per annum.
  • Repayment: Lump‑sum at maturity, financed by proceeds from mineral exports; early repayment option available.
  • Use of proceeds: Working capital for Casposo Argentina Ltd. after completion of major plant refurbishments.
  • Recent upgrades to Casposo processing plant (since July 31 2025):
  • Relining and installation of a semi‑autogenous grinding (SAG) mill.
  • Installation of a new hydrocyclone.
  • Substantial refurbishment of the filter band.
  • Previous financing: Banco San Juan previously provided a US$7 million loan facility in December 2024.

Notable Quotes

(No direct quotes were included in the release.)

Read the original news release →

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