Augusta Gold Corp. (OTC:AUGG) Stock Gains 6%: Here is Why

Investors who may be interested in the gold mining industry have a lot of options to choose from when it comes to stocks, and one of those could be Augusta Gold Corp. (OTC:AUGG). As it happens, the company was in the news cycle yesterday after it announced that it raised the amount of its loan with its biggest shareholder, Augusta Investment Inc., by as much as $525,000.

In the news release, it was noted that, in relation to the increase in the loan, the company had also paid an origination fee of $25,000 to the lender. The maturity date of the loan had also been extended to June 30, 2024, and on top of that, Augusta Gold Corp. also paid an extension fee of $27,790.70 to the lender.

However, that was not the only announcement from the company yesterday. Augusta Gold Corp. also announced that it had appointed an interim chief financial officer of the company in the form of Ty Minnick. The appointment would go into effect on April 1, 2024. In light of the announcement, it may be a good move for investors to look into the credentials of Minnick as an executive.

He had worked with the company in the capacity of a consultant, and in fact, he had also been its Chief Financial Officer from 2011 up until October of 2020. Later on, Minnick served as the Chief Financial Officer of Athena Gold Corp. in May 2021. His experience in the mining industry spans a period of 13 years. Additionally, he has also been the Certified Public Accountant at Grand Mesa CPAs LLC since December 2018. In the news release, Augusta Gold Corp. also thanked the former Chief Financial Officer, Michael McClelland, for his many years of service and wished him the best for his future plans.


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