Austral Gold Announces Strategic Share Sale

Austral Gold Limited (AU:AGD) has released an update.

Austral Gold Limited, a gold and silver mining producer, has announced the sale of 8,139,023 of its Unico Shares to its largest shareholder, IFISA, at a price that ensures market fairness, reflecting recent trading activity. The proceeds from this related party transaction, approximately A$1.5 million, will serve as general working capital for Austral. The deal, approved by the company’s board and exempt from certain regulatory requirements, still awaits TSX Venture Exchange approval.

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