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Antilles Gold ( (AU:AAU) ) has shared an update.
Antilles Gold has agreed to issue 142,837,145 new shares at $0.014 each to raise $2 million from Chinese investor Yue Xiao, alongside 71,418,573 unlisted options exercisable at $0.03, with the proceeds to be loaned to its 50%-owned joint venture Minera La Victoria for construction of the Nueva Sabana mine in Cuba. The secured, interest-bearing loan from subsidiary Antilles Gold Inc. will lift total advances to about US$4.9 million and potentially to around US$8 million by the end of 2026, supporting timely mine completion and reinforcing the company’s Cuban growth pipeline, which relies on cash flow from Nueva Sabana to fund the larger La Demajagua development and copper exploration targets.
The Nueva Sabana project, now under construction, is central to Antilles Gold’s strategy of generating an expected US$163 million in free cash flow over its first four years to finance subsequent Cuban projects and exploration, including the El Pilar copper-gold porphyry system and prospects in the Sierra Maestra copper belt. The joint venture benefits from Cuban government support, including approval to hold project funds offshore and remit only local expenses into the country, a structure intended to mitigate sovereign credit risk for investors while operating under Cuba’s foreign investment and mining regulations.
More about Antilles Gold
Antilles Gold is an Australian-listed mining company focused on developing previously explored mineral deposits in Cuba through a 50:50 joint venture with state-owned GeoMinera SA. The company aims to produce gold, silver, antimony and copper concentrates, with its first project being the Nueva Sabana gold-copper mine and a planned second project, the La Demajagua open pit mine on the Isle of Youth.
YTD Price Performance: 40.0%
Average Trading Volume: 8,116,567
Technical Sentiment Signal: Sell
Current Market Cap: A$43.84M
See more insights into AAU stock on TipRanks’ Stock Analysis page.