Austin Gold Corp. Files 20-F for Fiscal Year Ended December 31, 2023

Ticker: AUST · Form: 20-F · Filed: Mar 27, 2024 · CIK: 1817740

Austin Gold Corp. 20-F Filing Summary
FieldDetail
CompanyAustin Gold Corp. (AUST)
Form Type20-F
Filed DateMar 27, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$1,070,000,000, $1,000,000,000
Sentimentneutral

Sentiment: neutral

Topics: Austin Gold Corp., 20-F Filing, Annual Report, Gold Mining, Financials

TL;DR

<b>Austin Gold Corp. has submitted its 2023 annual 20-F report, detailing its financial performance and operations for the fiscal year ending December 31, 2023.</b>

AI Summary

Austin Gold Corp. (AUST) filed a Foreign Annual Report (20-F) with the SEC on March 27, 2024. Austin Gold Corp. filed its annual 20-F report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. Key financial data points such as revenue, net income, and EPS are expected to be detailed within the full report. The company's primary industry classification is GOLD & SILVER ORES. The filing was made on March 27, 2024.

Why It Matters

For investors and stakeholders tracking Austin Gold Corp., this filing contains several important signals. This 20-F filing provides a comprehensive overview of Austin Gold Corp.'s financial health, operational activities, and risk factors for the fiscal year 2023, crucial for investors assessing the company's performance and future prospects. As a gold and silver ore company, the details within this filing are critical for understanding its asset base, exploration activities, and potential market value in the commodities sector.

Risk Assessment

Risk Level: medium — Austin Gold Corp. shows moderate risk based on this filing. The company operates in the gold and silver mining industry, which is subject to significant price volatility and regulatory risks, as indicated by its industry classification and the nature of its business.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 20-F to assess Austin Gold Corp.'s operational performance and potential for growth in the precious metals market.

Key Numbers

  • 2023-12-31 — Fiscal Year End (The end date of the reporting period)
  • 2024-03-27 — Filing Date (The date the 20-F was submitted to the SEC)
  • 1040 — SIC Code (Standard Industrial Classification for Gold & Silver Ores)

Key Players & Entities

  • Austin Gold Corp. (company) — Filer of the 20-F report
  • 20-F (regulator) — Form type filed by Austin Gold Corp.
  • GOLD & SILVER ORES (company) — Standard Industrial Classification for Austin Gold Corp.
  • March 27, 2024 (date) — Date the filing was made
  • December 31, 2023 (date) — Fiscal year end date
  • P2 Gold Inc (company) — Mentioned in relation to the fiscal years 2023 and 2022
  • Nevada Exploration Inc (company) — Mentioned in relation to the fiscal years 2021 and 2020
  • Oregon Department of Geology and Mineral Industries (company) — Mentioned in relation to fiscal year 2023

FAQ

When did Austin Gold Corp. file this 20-F?

Austin Gold Corp. filed this Foreign Annual Report (20-F) with the SEC on March 27, 2024.

What is a 20-F filing?

A 20-F is a annual report for foreign private issuers, equivalent to a 10-K but following international reporting standards. This particular 20-F was filed by Austin Gold Corp. (AUST).

Where can I read the original 20-F filing from Austin Gold Corp.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Austin Gold Corp..

What are the key takeaways from Austin Gold Corp.'s 20-F?

Austin Gold Corp. filed this 20-F on March 27, 2024. Key takeaways: Austin Gold Corp. filed its annual 20-F report for the fiscal year ending December 31, 2023.. The filing covers the period from January 1, 2023, to December 31, 2023.. Key financial data points such as revenue, net income, and EPS are expected to be detailed within the full report..

Is Austin Gold Corp. a risky investment based on this filing?

Based on this 20-F, Austin Gold Corp. presents a moderate-risk profile. The company operates in the gold and silver mining industry, which is subject to significant price volatility and regulatory risks, as indicated by its industry classification and the nature of its business.

What should investors do after reading Austin Gold Corp.'s 20-F?

Investors should review the detailed financial statements and risk factors in the 20-F to assess Austin Gold Corp.'s operational performance and potential for growth in the precious metals market. The overall sentiment from this filing is neutral.

Risk Factors

  • Commodity Price Volatility [high — market]: The company's financial performance is highly dependent on the market prices of gold and silver, which can be volatile.
  • Environmental and Mining Regulations [medium — regulatory]: Operations are subject to extensive environmental and mining regulations in the jurisdictions where the company operates, which can impact costs and feasibility.
  • Exploration and Development Risks [medium — operational]: The success of mining operations depends on successful exploration and development of mineral properties, which carry inherent risks of failure.

Key Dates

  • 2024-03-27: Filing of 20-F — Submission of the annual report for the fiscal year 2023.
  • 2023-12-31: Fiscal Year End — End of the reporting period for the 20-F.

Filing Stats: 4,563 words · 18 min read · ~15 pages · Grade level 15.5 · Accepted 2024-03-27 16:07:15

Key Financial Figures

  • $1,070,000,000 — we had total annual gross revenues of US$1,070,000,000 (as such amount is indexed for inflatio
  • $1,000,000,000 — vious 3-year period, issued more than US$1,000,000,000 in non-convertible debt; or (d) the dat

Filing Documents

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No Table of Contents TABLE OF CONTENTS PART I 5

- IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1 - IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 5

- OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2 - OFFER STATISTICS AND EXPECTED TIMETABLE 5

- KEY INFORMATION

ITEM 3 - KEY INFORMATION 5 A. Reserved 5 B. Capitalization and Indebtedness 5 C. Reasons for the Offer and Use of Proceeds 5 D.

- INFORMATION ON THE COMPANY

ITEM 4 - INFORMATION ON THE COMPANY 25 A. History and Development of the Company 25 B. Business Overview 28 C. Organizational Structure 36 D. Property, Plant and Equipment and E&E Assets 36

- UNRESOLVED STAFF COMMENTS

ITEM 4A - UNRESOLVED STAFF COMMENTS 55

- OPERATING AND FINANCIAL REVIEW AND PROSPECTS

ITEM 5 - OPERATING AND FINANCIAL REVIEW AND PROSPECTS 56 A. Operating Results 56 B. Liquidity and Capital Resources 59 C. Research and Development, Patents and Licenses, etc. 65 D. Trend Information 65 E. Critical Accounting Estimates 65

- DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES

ITEM 6 - DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 66 A. Directors and Senior Management 66 B. Compensation 70 C. Board Practices 73 D. Employees 77 E. Share Ownership 78 F. Disclosure of a registrant's action to recover erroneously awarded compensation. 79

- MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS

ITEM 7 - MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 79 A. Major Shareholders 79 B. Related Party Transactions 79 C. Interests of Experts and Counsel 80

- FINANCIAL INFORMATION

ITEM 8 - FINANCIAL INFORMATION 80 A. Consolidated Statements and Other Financial Information 80 B. Significant Changes 81

- THE OFFER AND LISTING

ITEM 9 - THE OFFER AND LISTING 81 A. Offer and Listing Details 81 B. Plan of Distribution 81 C. Markets 81 D. Selling Shareholders 81 E.

Dilution

Dilution 81 F. Expenses of the Issue 81

- ADDITIONAL INFORMATION

ITEM 10 - ADDITIONAL INFORMATION 81 A. Share Capital 81 B. Memorandum and Articles of Association 81 C. Material Contracts 81 D. Exchange Controls 82 E. Taxation 82 F. Dividends and Paying Agents 90 G. 90 H. Documents on Display 91 I. Subsidiary Information 91 i Table of Contents

- QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 11 - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 91 A. Market Risk 91 B . Credit Risk 92 C . Liquidity Risk 92 D . Capital Management 92 E . Fair Value Estimation 92

- DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

ITEM 12 - DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 93 PART II 94

- DEFAULTS, DIVIDEND ARREARS AND DELINQUENCIES

ITEM 13 - DEFAULTS, DIVIDEND ARREARS AND DELINQUENCIES 94

- MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS

ITEM 14 - MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 94 A. to D. 94 E.

Use of Proceeds

Use of Proceeds 94

- CONTROLS AND PROCEDURES

ITEM 15 - CONTROLS AND PROCEDURES 94 A. Disclosure Controls and Procedures 94 B. Management's Annual Report on internal control over financial reporting 94 C. Attestation report of registered public accounting firm 95 D. Changes in internal controls over financial reporting 95

- [RESERVED]

ITEM 16 - [RESERVED] 95

- AUDIT COMMITTEE FINANCIAL EXPERT

ITEM 16A - AUDIT COMMITTEE FINANCIAL EXPERT 95

- CODE OF ETHICS

ITEM 16B - CODE OF ETHICS 95

- PRINCIPAL ACCOUNTANT FEES AND SERVICES

ITEM 16C - PRINCIPAL ACCOUNTANT FEES AND SERVICES 95

- EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES

ITEM 16D - EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 96

- PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS

ITEM 16E - PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 96

- CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT

ITEM 16F - CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 96

- CORPORATE GOVERNANCE

ITEM 16G - CORPORATE GOVERNANCE 96

- MINE SAFETY DISCLOSURE

ITEM 16H - MINE SAFETY DISCLOSURE 97

- DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

ITEM 16I - DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 97

- INSIDER TRADING POLICIES

ITEM 16J - INSIDER TRADING POLICIES 97

- CYBERSECURITY

ITEM 16K - CYBERSECURITY 97 PART III 98

- FINANCIAL STATEMENTS

ITEM 17 - FINANCIAL STATEMENTS 98

- FINANCIAL STATEMENTS

ITEM 18 - FINANCIAL STATEMENTS 98

- EXHIBITS

ITEM 19 - EXHIBITS 99 ii Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 20-F (" Annual Report ") and the exhibits attached hereto contain "forward-looking information" and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation that involve risks and uncertainties relating, but not limited to, the Company's current expectations, intentions, plans, and beliefs. Forward-looking information can often be identified by forward-looking words such as "anticipate", "believe", "expect", "goal", "plan", "target", "intend", "estimate", "could", "should", "may" and "will" or the negative of these terms or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Examples of forward-looking information in this Annual Report include: Austin Gold Corp . and subsidiaries (the " Company ", " we ", " us ", or " our ") plans and timing regarding further exploration, drilling and development, the prospective nature of exploration and development targets, the ability to upgrade and convert mineral reserves, capital costs, our intentions with respect to financial position and third party financing and future dividend payments. This forward-looking information is based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information. Such factors and assumptions include, but are not limited to: failure to establish estimated reserves, the grade and recovery of ore which is mined varying from estimates, success of future exploration and drilling programs, reliability of drilling, sampling and assay data, assumptions regarding the representativeness of minera

- IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1 - IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.

- OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2 - OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.

- KEY INFORMATION

ITEM 3 - KEY INFORMATION A. Reserved B. Capitalization and Indebtedness Not applicable. C. Reasons for the Offer and Use of Proceeds Not applicable. D. Risk Factors An investment in our shares involves a high degree of risk and should be considered speculative. You should carefully consider the following risks set out below and other information before investing in our shares. If any event arising from these risks occurs, our business, prospects, financial condition, results of operations or cash flows could be adversely affected, the trading price of our shares could decline and all or part of any investment may be lost. 5 Table of Contents Our operations are highly speculative due to the high-risk nature of our business, which includes the acquisition, financing, exploration, development of mineral infrastructure and operation of min

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