The latest update is out from Antilles Gold ( (AU:AAU) ).
Antilles Gold Limited has announced a revised strategy for securing the approximately US$30 million needed to complete the development of the Nueva Sabana copper-gold mine in Cuba. The company will now have its subsidiary, Antilles Gold Inc, purchase and sell the mine’s gold and copper-gold concentrates to international traders, negotiating prepayment terms as part of the sales agreements. This new approach involves securing a minimum prepayment of US$10 million and borrowing an additional US$20 million, which will be on-lent to the joint venture for construction. While this strategy presents more challenges compared to the previously anticipated prepayment covering most construction costs, negotiations are showing promise.
More about Antilles Gold
Antilles Gold Limited is a company involved in the mining industry, focusing on the development of copper and gold mining projects. It operates through joint ventures, such as Minera La Victoria SA, to develop mines like the Nueva Sabana copper-gold mine in Cuba.
Technical Sentiment Signal: Buy
Current Market Cap: $5.35M
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