Latest news with #Almaden
Business Upturn
11-07-2025
- Business
- Business Upturn
Almaden Announces Completion of Rock Creek Mill Sale and Repayment of Gold Loan with Almadex
By GlobeNewswire Published on July 11, 2025, 21:48 IST VANCOUVER, British Columbia, July 11, 2025 (GLOBE NEWSWIRE) — Almaden Minerals Ltd. ('Almaden' or 'the Company'; TSX: AMM; OTCQB: AAUAF) is pleased to announce that it has closed the sale of certain assets comprising the Rock Creek Mill to Metals Exploration PLC (LSE AIM: MTL) (the 'Transaction') and received aggregate gross proceeds of US$9,700,000 (the 'Purchase Price') (see press release dated March 3, 2025). 15% of the Purchase Price was payable as a commission by Almaden to an equipment sales broker. With the completion of the Transaction, Almaden will now proceed with the early repayment of the outstanding gold loan pursuant to the secured gold loan agreement, as amended ('Gold Loan'), between Almaden and Almadex Minerals Ltd. ('Almadex') (see press release dated May 22, 2025). The Gold Loan will be settled by the return of the undrawn balance of 397 ounces, along with physical delivery of gold bullion of 99.99% purity to Almadex representing the outstanding loan balance (including accrued interest and standby fees) of USD$5,194,354, with the amount of gold bullion determined based on the prevailing London Bullion Market Association AM gold price in U.S. dollars as of the time of settlement. On behalf of the Board of Directors, 'J. Duane Poliquin' J. Duane PoliquinChair Almaden Minerals Ltd. Safe Harbor Statement Certain of the statements and information in this news release constitute 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 and 'forward-looking information' within the meaning of applicable Canadian provincial securities laws. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things, the repayment of the Gold Loan. These forward-looking statements and information reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant legal, regulatory, business, operational and economic uncertainties and contingencies, and such uncertainty generally increases with longer-term forecasts and outlook. The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release. Such risks and other factors include, among other, those factors discussed the section entitled 'Risk Factors' in Almaden's Annual Information Form and Almaden's latest Form 20-F on file with the United States Securities and Exchange Commission in Washington, D.C. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in forward-looking statements or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that our forward-looking statements or information will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking statements or information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to on forward-looking statements or information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Contact Information: Almaden Minerals 604.689.7644 Email: [email protected] Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Yahoo
22-05-2025
- Business
- Yahoo
Almadex Announces Early Repayment of Gold Loan
VANCOUVER, British Columbia, May 22, 2025 (GLOBE NEWSWIRE) -- Almadex Minerals Ltd. ('Almadex' or the 'Company') (TSX-V: 'DEX') announces that Almaden Minerals Ltd. ('Almaden') has notified the Company of the early repayment of the outstanding gold loan pursuant to the secured gold loan agreement, as amended ('Gold Loan'), between Almaden and the Company (see press releases dated June 27, 2024 and May 14, 2019). Under the terms of the Gold Loan, the 'Gold Loan Value' was fixed as of May 13, 2025 and the outstanding loan balance (including accrued interest and standby fees) determined to be USD$5,194,354 (the 'Loan Amount'). Almaden will repay the Loan Amount by physical delivery of gold bullion of 99.99% purity to the Company. The delivery of gold shall be completed after Almaden receives the final payment on the sale of its Rock Creek mill (the 'Mill') to Metals Exploration PLC pursuant to the purchase agreement dated February 28, 2025 (see press release of Almaden dated March 3, 2025), which is expected to be on or before August 31, 2025 (the 'Settlement Date'). The amount of gold (the 'Borrowed Gold') to be delivered by Almaden will be determined based on the prevailing London Bullion Market Association AM gold price in U.S. dollars on the business day prior to the Settlement Date. In addition to the Borrowed Gold, Almaden will return the undrawn portion of the Gold Loan, consisting of 397 ounces of gold bullion. The Loan Amount is secured by a security interest and first lien on certain equipment related to the Mill (collectively, the 'Security'). Upon repayment of the Loan Amount by Almaden to the Company, the Security shall be deemed fully released and discharged. About AlmadexAlmadex Minerals Ltd. is an exploration company that holds a large mineral portfolio consisting of projects and NSR royalties in Canada, the U.S., and Mexico. This portfolio is the direct result of many years of prospecting and deal-making by Almadex's management team. The Company owns several portable diamond drill rigs, enabling it to conduct cost effective first pass exploration drilling in house. On behalf of the Board of Directors, 'Morgan Poliquin' Morgan Poliquin, President and CEOAlmadex Minerals Ltd. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within it, other than statements of historical fact, are to be considered forward looking. Forward-looking statements in this news release include, among other things, the repayment of the Gold Loan Value on the expected terms and timing thereof. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, permitting, continued availability of capital and financing, equipment availability and general economic, market or business conditions. The foregoing list of assumptions is not exhaustive. There can be no assurances that forward-looking statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking statements, other than as required pursuant to applicable securities laws. Contact Information:Almadex Minerals 604.689.7644Email: info@ in to access your portfolio
