Austral Gold Obtains Takeover Option at Rawhide Mine
AGREEMENT HIGHLIGHTSAustral Gold's subsidiary Austral Gold North America Corp ("AGNA") to provide US$555,000 bridge funding to the Rawhide Mine in Nevada, a fully permitted operation that produces gold and silver through an open pit heap leaching operation.AGNA to perform a due diligence on the mine, in which it already owns a 24.74% interest.AGNA has an option to take an approximate 99.98% stake in the mine and assume controlling ownership upon completion of due diligence by 29 May 2023.Rawhide's existing financial debt of approximately US$18.5 million to be restructured.AGNA has invested a total of US$6.4 million in Rawhide since 2019 as part of its corporate strategy to expand its footpri
