Antilles Gold Limited

Antilles Gold Entitlement Offer Closed

Antilles Gold Limited (“Antilles Gold” or the “Company”) (ASX: AAU, OTCQB: ANTMF) advises that it has received applications for a total of 464,892,732 entitlement shares and shortfall shares from its Rights Issue which closed on 9 July 2024.

The Company will issue 464,892,732 new fully paid ordinary shares, and 232,446,377 new options exercisable at $0.01 each on or before 31 December 2026, and will apply for quotation of the options on the ASX. The new securities are expected to be issued on or before Tuesday 16 July 2024.

The Company intends to supplement the $1.86 million raised over the next three months by a placement to a cornerstone shareholder, and with proceeds from the anticipated sale of around $1.3 million of surplus plant and equipment.

The Company is currently in discussions with a substantial Investment Group that have expressed interest in becoming a 19.9% shareholder, and if the proposed transaction proceeds, they would seek to appoint a director to Antilles Gold’s Board and possibly to the Board of the Cuban joint venture company, Minera La Victoria SA, and actively support the objectives of the joint venture. Negotiations on this matter are continuing.

Antilles Gold wishes to thank all shareholders and new investors who have taken up shares in the issue as it will allow the Company to subscribe for a further $1.2 million of shares in Minera La Victoria, leaving only ~$0.8 million outstanding to finalise its $23.0 million (US$15.0 million) earn-in for a 50% shareholding, and will ensure the completion of pre-development activities for the small, but important, Nueva Sabana mine, and continuity of the DFS for the La Demajagua project.

END


This announcement has been authorised by the Board of Antilles Gold Limited. For further information, please contact:

Brian Johnson, Chairman,

Antilles Gold Limited T: +61 (02) 4861 1740

E: brianjohnson@antillesgold.net


Click here for the full ASX Release

This article includes content from Antilles Gold, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

AAU:AU
The Conversation (0)
Antilles Gold Limited

Antilles Gold Limited

Developing Gold and Copper Projects in mineral‐rich Cuba

Developing Gold and Copper Projects in mineral‐rich Cuba Keep Reading...
Antilles Gold to Raise $1.0M for Working Capital

Antilles Gold to Raise $1.0M for Working Capital

Antilles Gold Limited (AAU:AU) has announced Antilles Gold to Raise $1.0M for Working CapitalDownload the PDF here. Keep Reading...
Quarterly Activities/Appendix 5B Cash Flow Report

Quarterly Activities/Appendix 5B Cash Flow Report

Antilles Gold Limited (AAU:AU) has announced Quarterly Activities/Appendix 5B Cash Flow ReportDownload the PDF here. Keep Reading...
Summary of Pre-Feasibility Study for Nueva Sabana Mine

Summary of Pre-Feasibility Study for Nueva Sabana Mine

Antilles Gold Limited (AAU:AU) has announced Summary of Pre-Feasibility Study for Nueva Sabana MineDownload the PDF here. Keep Reading...
Revision to Updated Scoping Study Nueva Sabana Mine, Cuba

Revision to Updated Scoping Study Nueva Sabana Mine, Cuba

Antilles Gold Limited (AAU:AU) has announced Revision to Updated Scoping Study Nueva Sabana Mine, CubaDownload the PDF here. Keep Reading...
Amex Delivers a Positive Feasibility Study for Development of the Perron Gold Mine

Amex Delivers a Positive Feasibility Study for Development of the Perron Gold Mine

Feasibility Phase 1 Highlights Gold production to average 147,000 oz per year over the 5 years of commercial Phase 1 production at an All in Sustaining Cost ("AISC") of USD$910/oz AuProjected Post-Tax IRR of 114.6% and Post-Tax NPV5 of CAD$1.13 billion generated from a Cumulative Undiscounted... Keep Reading...
Gold bars in stacks with words "5 Top Canadian Mining Stocks This Week" on top.

Top 5 Canadian Mining Stocks This Week: Q-Gold Resources Spikes 103 Percent

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian news impacting the resource sector.Statistics Canada released its March Labour Force Survey on Friday (April 10). The labor force news... Keep Reading...
Gold bars and coins on financial graphs with the text: "Weekly Editor's Picks" and "M&A."

Editor's Picks: Gold, Silver Prices Gain on Ceasefire News, Mining M&A Activity Heats Up

The gold price was on the rise this week, breaking briefly through the US$4,800 per ounce level for the first time since mid-March before pulling back.Silver trended upward as well, nearly hitting US$77.50 per ounce.Both precious metals have seen price declines since the Iran war began, and were... Keep Reading...
Napie Grows to 1.2Moz Au and Aurum Reaches 4.2Moz Au

Napie Grows to 1.2Moz Au and Aurum Reaches 4.2Moz Au

Aurum Resources (AUE:AU) has announced Napie Grows to 1.2Moz Au and Aurum reaches 4.2Moz AuDownload the PDF here. Keep Reading...
Marc Faber, gold bars.

Marc Faber: Gold, Oil and War — My Outlook and Strategy Now

Dr. Marc Faber, editor and publisher of the Gloom, Boom & Doom Report, discusses the impact of the Iran war on global liquidity, asset price trends, interest rates and gold. He also weighs in on the future of the US economy and the BRICS nations. Don’t forget to follow us @INN_Resource for... Keep Reading...
Stock market tickers with various numbers in red and green; text reads: "mergers and acquisitions."

G Mining Ventures Strikes Deal to Acquire G2 Goldfields

G Mining Ventures (TSX:GMIN,OTCQX:GMINF) announced plans to acquire G2 Goldfields (TSXV:GTWO,OTCQX:GUYGF) in an estimated US$2.13 billion all-stock transaction, moving to consolidate two adjacent projects in Guyana to create one of the largest and lowest-cost gold-mining hubs in the Americas.The... Keep Reading...

Interactive Chart

Latest Press Releases

Related News