Austral Gold Limited (AU:AGD) has released an update.
Austral Gold Limited has announced a delay in the installation of key grinding equipment at their Heap Reprocessing Project, pushing the expected operational date to the end of June 2024 and reducing the 2024 production forecast from 24,000-28,000 to 18,000-20,000 gold equivalent ounces. To counter financial shortfalls from the lower production, the company has sold some of its mining equity investments for US$2.27M and is considering the sale of non-core assets. Despite these setbacks, Austral Gold remains focused on growth and advancing its portfolio of production and exploration assets.
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