Antilles Gold Advances Funding for Nueva Sabana Mine in Cuba

Antilles Gold ( (AU:AAU) ) has shared an announcement.

Antilles Gold Limited has announced that its Cuban joint venture, Minera La Victoria SA, has secured agreements to sell copper-gold concentrates from the Nueva Sabana mine directly to a major commodities trader, eliminating the need for Antilles Gold Inc to act as an intermediary. This development enhances the project’s income certainty and accelerates funding discussions for the mine’s construction, which requires approximately $30 million. Antilles Gold is working on securing a binding MoU with a turnkey supplier to defer $10 million in payments and is negotiating a $10 million gold royalty. The company is confident in finalizing financing within three months to commence the 12-month construction program.

More about Antilles Gold

Antilles Gold Limited operates in the mining industry, focusing on the development and operation of gold and copper projects. The company is involved in joint ventures, such as the one with Minera La Victoria SA, to explore and develop mining opportunities in Cuba.

Technical Sentiment Signal: Sell

Current Market Cap: A$8.51M

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