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An announcement from Antilles Gold ( (AU:AAU) ) is now available.
Antilles Gold has received an interim distribution of approximately A$3.25 million from the voluntary liquidation of its former subsidiary EnviroGold (Las Lagunas) Limited. The company will channel these funds into a 20‑month interest-bearing secured loan as part of a US$5 million facility to its 50%-owned joint venture Minera La Victoria SA, helping finance construction of the Nueva Sabana copper-gold mine in central Cuba, a key near-term producer expected to generate cash flow for further exploration of major copper targets in the country.
More about Antilles Gold
Antilles Gold Limited is an Australian-listed mining company focused on developing previously explored mineral deposits in Cuba to produce gold, silver, antimony and copper concentrates. Through its 50:50 joint venture with Cuban state miner GeoMinera SA, the company is advancing the Nueva Sabana copper-gold mine in central Cuba and planning the La Demajagua open pit gold and antimony project on the Isle of Youth, while also targeting large porphyry copper systems such as El Pilar and prospects within the Sierra Maestra copper belt. Antilles Gold operates under Cuba’s Foreign Investment Law and mining and environmental regulations, with government support including approval for joint venture funds to be held offshore to mitigate country credit risk for stakeholders.
Average Trading Volume: 3,527,811
Technical Sentiment Signal: Sell
Current Market Cap: A$31.07M
See more insights into AAU stock on TipRanks’ Stock Analysis page.