Antilles Gold Advances Nueva Sabana Mine Build and Secures Key Funding

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

Antilles Gold’s joint venture Minera La Victoria SA has advanced construction of the Nueva Sabana gold-copper mine in Cuba, with access roads, earthworks and concentrator engineering largely completed and major plant and equipment now being shipped for on-site works from May 2026. The project remains on schedule for construction completion by end-2026, commissioning and initial gold concentrate production in January 2027, followed by first cash flow in February or March 2027 from an existing off-take agreement.

Project funding of US$35 million is largely secured through a US$17.1 million credit facility from Xinhai Mining, up to US$8 million in loans from Antilles Gold’s subsidiary and US$10 million in gold royalty financings, with documentation for most facilities finalised and the remaining US$5 million under negotiation. A pre-feasibility study indicates forecast output of about 77,000 ounces of gold and 9,150 tonnes of copper over 4.6 years, generating an estimated US$164 million cash surplus at assumed prices and enabling full loan repayment within 18 months, with potential for materially higher returns if current elevated gold and copper prices persist.

More about Antilles Gold

Antilles Gold is an Australian-listed mineral developer focused on advancing precious and base metal projects in Cuba, with a particular emphasis on gold and copper production. Its Nueva Sabana project is being developed through a 50%-owned joint venture, Minera La Victoria SA, positioning the company to supply gold and copper concentrates to international commodity traders.

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