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Austral to wipe out $53.7M in debt

AUSTRAL Gold has agreed to a deal which will see the erasure of $US53.7 million ($A61.3 million) ...

Justin Niessner

Under the debt-for-equity swap, Austral will issue up to 312.5 million shares to Inversiones Financieras Del Sur SA (IFISA) at A20c per share, reducing Austral’s debt-to-equity ratio from 144% to 0.1%....

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