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Antilles Gold ( (AU:AAU) ) has shared an update.
Antilles Gold reports steady progress on construction of the Nueva Sabana gold-copper mine in central Cuba, where joint venture company Minera La Victoria SA is carrying out extensive earthworks for site infrastructure. Chinese contractor Xinhai Mining has completed about 20% of its US$29.5 million EPC contract, focusing on procurement, shipping of key components, and concentrator fabrication ahead of on-site construction starting in late June 2026.
The company says the project remains on schedule despite heightened U.S. sanctions on Cuba, but warns that prolonged high diesel costs and unreliable power could pressure operating economics. Antilles is revising its pre-feasibility study to factor in potential cost increases, including 10MW of generator capacity, while assuming higher gold and copper prices, a move expected to support improved profit forecasts and net present value, with management also stressing limited direct exposure to U.S. sanctions risk.
More about Antilles Gold
Antilles Gold Limited is an ASX-listed mining company focused on gold and copper development projects, with a current emphasis on the Nueva Sabana mine in central Cuba. The company operates through a 50%-owned joint venture, Minera La Victoria SA, and works with international contractors, including Chinese engineering group Xinhai Mining, to advance its project pipeline.
Average Trading Volume: 5,421,490
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$36.07M
For an in-depth examination of AAU stock, go to TipRanks’ Overview page.