- Austral Gold (AGD) reports an armed robbery incident at its Guanaco refinery at Taltal in the Antofagasta region, Chile
- The company says a group of armed robbers in the early hours of the morning assaulted the Guanaco-Amancaya mine complex and stole gold precipitate material
- The stolen goods amounted to approximately 500 ounces of gold, which is estimated to value around at US$897,500 (A$1.26 million) on spot
- Austral says no one was seriously injured during the incident which is now being investigated by the Chilean authorities
- Despite the incident, shares in Austral Gold end the day 2.13 per cent in the green to close at 4.8 cents
Austral Gold (AGD) reported an armed robbery incident at its Guanaco refinery at Taltal in the Antofagasta region, Chile.
The company said a group of armed robbers in the early hours of the morning assaulted the Guanaco-Amancaya mine complex and stole gold precipitate material.
The stolen goods amounted to approximately 500 ounces of gold.
On spot, the value of the stolen gold is estimated at around US$897,500 (A$1.26 million).
Austral said no one was seriously injured during the incident which is now being investigated by the Chilean authorities.
Although the company believes it has strong security, Austral will undergo a thorough review to determine how it can further strengthen security at the mine complex.
This is not the first time the company has faced issues at the complex.
Just two years ago, the company revealed that miners at the Guanaco mine site went on strike after seven days of mediation failed to alleviate union concerns.
While Austral did not comment on where the sticking point is exactly in negotiations, the company pointed towards a one-time cash payment for each unionized employee, known as an end-of-conflict bonus.
Like the strike, the armed robbery is a big blow to the company which flagged the mine as its flagship project.
Despite the incident, shares in Austral Gold ended the day 2.13 per cent in the green to close at 4.8 cents.