See new information below. AGLD is acquiring a certain asset from NDR, which will make their Argentina land package much stronger. However, the strange thing about this situation is NDR has more gold/silver proven in Argentina compared to AGLD, yet it trades at 1/10th of the market cap and has a good balance sheet with many more deals and 1/10th the dilution in terms of common shares.
Austral Gold files Q2 activity report
2020-07-30 10:25 MT - News Release
Mr. Stabro Kasaneva reports
AUSTRAL GOLD ANNOUNCES FILING OF Q2 2020 QUARTERLY ACTIVITY REPORT
Austral Gold Ltd. has filed its Q2 2020 quarterly activity report. The report is available under the company's profile on the Australian Securities Exchange website, SEDAR and on the company's website.
About Austral Gold Ltd.
Austral Gold is a growing gold and silver mining, development and exploration company building a portfolio of quality assets in Chile, the United States and Argentina.
© 2020 Canjex Publishing Ltd. All rights reserved.
Link and information pertaining to their news. Keep in mind that this is just 1 of 5 properties being worked on at the moment.
australgold.com
Page 2: Entered into an agreement with New Dimension Resources (TSXV:NDR) for the
acquisition of the Sierra Blanca gold-silver project located in Santa Cruz, Argentina
as announced on 1 April 2020. Expect to close in Q3 2020.
Page 4: Pingüino: No fieldworks activities to report during the quarter. The team began
planning the exploration activities for Q3-Q4 2020 along with the anticipated
exploration commitments at Sierra Blanca over the next 12 months.
Page 11: Pingüino and Sierra Blanca Projects (Santa Cruz Cluster)
Recent activities
Austral and New Dimension Resources Ltd. (TSX-V:NDR) (“New Dimension”) entered into an
agreement for Austral to purchase an 80% interest in New Dimension’s Sierra Blanca gold-silver
project (the “Project”) in Santa Cruz Province, Argentina for US$800,000 in cash and work
commitments in various installments throughout a 3-year period. The agreement also includes a
‘follow -on’ option to purchase the remaining 20% interest for an additional US$2,300,000 in cash
and work commitments throughout an additional 2-years period. The transaction is subject to
execution of a definitive agreement and certain undertakings from New Dimension and is expected
to close during Q3 2020.
With this transaction, Austral will expand the area of its Pingüino project by securing an additional
7,000 hectares, resulting in a new exploration cluster in the Province of Santa Cruz. In addition, the
exploration team carried out the inventory of the veins of both projects to design the next exploration
campaign. |
