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Antilles Gold ( (AU:AAU) ) has shared an update.
Antilles Gold has executed three key agreements underpinning the development of the Nueva Sabana copper-gold mine in central Cuba, including a binding memorandum of understanding that formalises the role of its 50%-owned joint venture Minera La Victoria SA, grants Xinhai Mining first rights to negotiate and partly fund an EPC contract for the La Demajagua project, and provides Antilles Gold Inc with an option to purchase antimony output at prevailing Chinese prices. The company has also signed an EPC contract with Xinhai for Nueva Sabana and a Construction Administration Agreement appointing Antilles Gold Inc to manage and oversee that contract, while it works with legal advisers to document and secure construction funding for Nueva Sabana and finalise revised joint venture terms that clarify governance, confirm a US$15 million capital contribution, and allow Minera La Victoria to pursue multiple projects and bring in third-party partners for large porphyry copper developments.
More about Antilles Gold
Antilles Gold Limited is an Australia-listed mining company focused on developing gold, silver, copper, and antimony projects in Cuba through joint venture structures. Its activities include advancing the Nueva Sabana copper-gold mine and the La Demajagua gold-silver-antimony project via Minera La Victoria SA, a 50%-owned Cuban joint venture vehicle, and partnering with engineering and mining contractors such as Xinhai Mining to build and finance these assets.
Average Trading Volume: 3,527,811
Technical Sentiment Signal: Sell
Current Market Cap: A$31.07M
Find detailed analytics on AAU stock on TipRanks’ Stock Analysis page.