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Antilles Gold ( (AU:AAU) ) has issued an update.
Antilles Gold Limited has revised the structure of its EPC contract with Xinhai Mining for the development of the Nueva Sabana copper-gold mine in Cuba. The changes include expanding the scope of the contract and increasing its fixed price to $29.7 million, covering 90% of the mine’s construction activities. Additionally, Xinhai’s credit facility has been increased to $17.7 million, with deferred payments for up to two years post-completion. Antilles Gold is also negotiating a $10 million pre-payment for copper-gold concentrates and arranging further financing to ensure full project funding.
More about Antilles Gold
Antilles Gold Limited is a company involved in the mining industry, focusing on the development of copper and gold mines. The company is engaged in projects in Cuba, with a particular emphasis on the Nueva Sabana copper-gold mine.
Technical Sentiment Signal: Sell
Current Market Cap: A$13.08M
For a thorough assessment of AAU stock, go to TipRanks’ Stock Analysis page.