HighLights
Guanaco-Amancaya Operations Sales Revenue
7,109 *gold equivalent ounces
GEO

s* US$13.4m
In line with budget. Operating cash costs
(“C1”) of US$1,442/oz and all-insustaining cost (“AISC”) of US$1,872/oz
97% gold sales (3% silver sales)
Average selling prices of US$1,973/GEO
• YTD: Production: 14,346 GEOs, C1: US$1,451/oz, AISC: 1,857/oz, Sales: US$28.3m
EXPLORATION
• Drilled 1,285 meters in 4 diamond drill holes (DDH) at the Jaguelito Project (Argentina) where 4,368
meters have been drilled since the launch of the 5,000-meter drilling campaign in December 2022.
Best intercepts received to date were:
o DJN-003: 26m @ 0.60 grams per tonne (gpt) gold and 7 gpt silver
Including 1.5m @ 1.12 gpt gold and 45 gpt silver
o DJN-004: 21m @ 1.24 gpt gold and 1 gpt silver
Including 3.0m@ 3.32 gpt gold and <0.5 gpt silver

EQUITY INVESTMENTS
• Provided bridge funding of US$555,000 to the Rawhide mine and secured a 20-day takeover option to
assume controlling ownership of the mine. After conducting due diligence, Austral’s North American
subsidiary (24.7% interest in Rawhide) decided not to exercise the option.
• Signed a letter of intent (LOI) with TSXV listed Colossus Resources Corp. (“Colossus”) to grant an
option to purchase Austral’s non-core Calvario and Mirador copper projects in Chile. Consideration is
to include Colossus common shares, which would result in Austral becoming its largest shareholder
with a 19.9% interest. Transaction is expected to close during Q3 2023.
CORPORATE
• Cash combined with the fair value of unsold and unrefined GEO in inventory bullion totaled US$1.5
million at the end of Q2 2023.
• Secured a 3-year loan of US$3.5 million (8.5% p.a.) from a local bank in Chile and a US$0.6 million
dollar loan (8.0% p.a.) from a related party. The 3-year loan was used to improve the company’s
liquidity, debt maturity profile and fund general working capital. At the end of Q2 2023, total financial
debt totaled US$15 million of which US$1.5 million (8.0% p.a.) was owed to related parties.
• Mr. Hubert retired at the conclusion of the Company’s Annual General Meeting held on 30 May 2023,
during which all resolutions were passed. Mr. Elsztain was appointed as the company’s new NonExecutive Chair.
• Engaged Republic Public Relations Pty Ltd as the Company’s investor relations advisor in Australia.
Subsequent events during July 2023:
see & read more on
https://australgold.com/wp-quotes-api/assets/files/financial-reports-pdf-files/Austral_Gold_Quarterly_Report_30_June_2023_vf2.pdf