Austral Gold Obtains US$7M Secured Loan for Casposo Plant

December 23, 2024

1 minute

Austral Gold Obtains US$7M Secured Loan for Casposo Plant

Established gold producer Austral Gold Limited announced that Casposo Argentina Ltd – Sucursal Argentina (Casposo), a branch of the Company’s subsidiary Casposo Argentina Mining Ltd., obtained a US$7 million secured loan from Banco San Juan S.A., located in Argentina.

Casposo plans to use the proceeds to refurbish the Casposo Plant to support the recently announced Binding Memorandum of Understanding with ASX-listed Challenger Gold to process mineralised material from Challenger’s Hualilan Project.

Use of proceeds: Capital Expenditures and Working Capital required to refurbish the Casposo Plant

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