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

1 min min reading
Austral Gold Obtains US$7M Secured Loan for Casposo Plant
Austral Gold Obtains US$7M Secured Loan for Casposo Plant
Share:

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

Published by: Panorama Minero

Category: News

Join our mining community!


Subscribe to our newsletter for exclusive news, insights, and updates on the mining industry and Panorama Minero's latest initiatives.

Illustrative image for the news: Strategy, Vision, and Checkmate at the 4th Mining Chess Circuit in Salta | Panorama Minero

Over two days, Salta once again showed why the chessboard can speak the language of mining. The 4th Mining Chess Circuit brought together companies, government, communities, students, suppliers, and players of all levels in a space where sport—far from being an accessory—became a genuine bridge connecting mining, education, and territorial development. The event was organized by CAPMIN – the Argentine Chamber of Mining Suppliers, the Secretariat of Mining and Energy of Salta, Salta Deportes, and CAPROSEMITP.

Illustrative image for the news: Jujuy: A forum brought together voices from the university, companies, and local communities | Panorama Minero

The event “Mining, Heritage and Community: Dialogues for a Sustainable Transition in the Puna,” organized by the specialized outlets Prensa GeoMinera and Jujuy Económico, was held at the amphitheater of the Faculty of Engineering. It brought together academics, students, university authorities, government officials, and representatives of the mining sector.