Established gold producer
Agreement Overview
AGNA currently owns 24.74% of RAH. RAH is a privately held
The transaction is subject to and conditioned upon: (i) satisfactory Due Diligence by AGNA to review, determine and/or confirm, among other things, the current operational status, that there are no other liabilities than those disclosed in the financial statements of Rawhide (except for those incurred in the ordinary course of business), and current agreements with the insurance company and the
Key Transaction Terms
AGNA to provide short term Bridge of
AGNA acquires each option in consideration of providing the Bridge, with the right to exercise all options for a total of
Exclusivity period to implement the Loan Restructuring during due diligence.
Break-up fee of
About Rawhide
Rawhide is a fully permitted operation that produces gold and silver through an open pit heap leaching operation. In 2019, Rawhide received a mine expansion permit associated with the Regent open pit. Rawhide is a historical mining operation that started in the early 1900s located in the
Contact:
Tel: +61 466 892 307
Forward Looking Statements
Statements in this news release that are not historical facts are forward-looking statements. Forward-looking statements are statements that are not historical, and consist primarily of projections - statements regarding future plans, expectations and developments. Words such as 'expects', 'intends', 'plans', 'may', 'could', 'potential', 'should', 'anticipates', 'likely', 'believes' and words of similar import tend to identify forward-looking statements. Forward-looking statements in this news release include those concerning the proposed transaction and the parties intent to negotiate and enter into definitive agreements and obtain regulatory and stock exchange approval, the results of the proposed due diligence investigation and Austral and AGNA's desire to proceed with the transaction and the timing for all of these events.
All of these forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation, regulatory approval, approval by the current Rawhide lenders, business integration risks; uncertainty of production, uncertainty of exploration programs, development plans and cost estimates, commodity price fluctuations; political or economic instability and regulatory changes; currency fluctuations, the state of the capital markets especially in light of the effects of the novel coronavirus, uncertainty in the measurement of mineral reserves and resource estimates, Austral's ability to attract and retain qualified personnel and management, potential labour unrest, reclamation and closure requirements for mineral properties; unpredictable risks and hazards related to the development and operation of a mine or mineral property that are beyond the Company's control, the availability of capital to fund all of the Company's projects and other risks and uncertainties identified under the heading 'Risk Factors' in the Company's continuous disclosure documents filed on the ASX and on SEDAR. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Austral cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. Austral's forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and Austral does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements.
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