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An announcement from Antilles Gold ( (AU:AAU) ) is now available.
Antilles Gold Limited has signed a binding Memorandum of Understanding with Shandong Xinhai Mining Technology Systems Inc for the engineering, procurement, and construction of the Nueva Sabana copper-gold mine in Cuba. The agreement includes a US$29.5 million EPC contract and a US$17.1 million credit facility, significantly de-risking the project’s capital and operational expenditures. Additionally, Antilles Gold is working to secure further funding and has accepted a significant share subscription from a senior executive of Xinhai, which will strengthen its financial position and potentially influence its board composition.
More about Antilles Gold
Antilles Gold Limited is a company involved in the mining industry, focusing on the development of copper-gold mines. It operates in collaboration with other entities to develop mining projects, such as the Nueva Sabana mine in Cuba, and is actively engaged in securing financing and partnerships to advance its operations.
Technical Sentiment Signal: Sell
Current Market Cap: A$15.08M
Learn more about AAU stock on TipRanks’ Stock Analysis page.