Austral Gold obtains $1.3M (U.S.) loan from Hipotecario

Executive Summary

• Austral Gold Argentina SA secured a new unsecured related‑party loan of US $1.3 million from Banco Hipotecario (BH), the lender linked to the company’s largest shareholder.
• The loan will be used to repay an existing 1.6‑billion Argentine‑peso loan (≈US $1.25 million) that was due on August 1, 2025.
• Loan terms: 12‑month term, 11% interest, monthly repayments beginning 120 days after receipt; the transaction leaves an overdraft balance of ~75 million ARS (~US $58 k).

Key Details

• Loan amount: US $1.3 million (unsecured).
• Lender: Banco Hipotecario, related to largest shareholder and chair Eduardo Elsztain.
• Term: 12 months; interest rate 11% per annum.
• Repayment schedule: 12 equal monthly instalments; first payment due 120 days after loan receipt.
• Use of proceeds: Repayment of prior BH loan (1.6 billion ARS), accrued interest, and structuring fees.
• Security: Unsecured – no collateral pledged.
• Post‑transaction overdraft balance with BH: Approximately 75 million Argentine pesos (~US $58 k).
• Context: Prior related‑party loan of 1.6 billion ARS was renewed on April 30, 2024 and Jan 30, 2025; it became due Aug 1, 2025.

Notable Quotes

(No direct quotes provided in the release.)