Ausgold Limited announced that it has raised AUD 3 million in debt round of funding on May 14, 2024. The transaction included participation from new lender Arlington Group Asset Management Limited for AUD 1 million, returning lender Dundee Resources Limited for AUD 1 million and nominees of SCP Resource Finance LP for AUD 1 million. The company has issued unsecured loan notes and 99,999,999 warrants.

Each warrant to purchase one Ausgold share at an exercise price of AUD 0.03 and an expiry date of 30 May 2027 to each of Dundee, Arlington and the nominees of SCP. The notes will have maturity date of 20 August 2024 at an interest rate of 12% per annum.