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...
A wooden plank balances on a cylinder labeled "BALANCE" with balls marked "RISK" and "REWARD" against a yellow background.

What Mining's "Legendary" Investors Do Differently

At first glance, “legendary” resource investors don’t look that different from everyone else. They still miss trades, sit through drawdowns and argue about macro. What separates them is less about stock picking and more about how they think, structure their portfolios and behave when markets are... Keep Reading...
John Rubino, gold and silver bars.

John Rubino: Gold, Silver Bull Run Not Over, Expect "Dramatic" Prices

John Rubino, who writes a newsletter on Substack, shares his long-term outlook for gold and silver, saying that this year's price run and pullback are not the end of the bull market. "I think the numbers that we'll start seeing for gold and silver will be dramatic compared to today's numbers,"... Keep Reading...

Onyx Gold Intersects 1.7 g/t Au over 67.0 Meters, Including 13.2 g/t over 6.0 Meters and Visible Gold Grading 73.4 g/t Au at Argus Main

Drilling Continues to Define Higher-Grade Plunging Mineralization within the 1.4-km-long Argus Gold System Onyx Gold Corp. (TSXV: ONYX,OTC:ONXGF) (OTCQX: ONXGF) ("Onyx" or the "Company") is pleased to report assay results from an additional nine (9) drill holes from the Argus Gold System... Keep Reading...
Skull Ridge Gold Acquires 17,225-Hectare Strategic Land Position Along Emerging Crippleback–Stony Lake Gold-Copper Corridor

Skull Ridge Gold Acquires 17,225-Hectare Strategic Land Position Along Emerging Crippleback–Stony Lake Gold-Copper Corridor

Skull Ridge Gold Corp. (CSE: SKUL) (“Skull Ridge” or the “Company”) is pleased to announce that it has acquired, through an arm’s-length Newfoundland prospector 689 mineral claims covering approximately 17,225 hectares in Central Newfoundland. The claims were acquired through the reimbursement... Keep Reading...
M&A written on puzzle pieces.

OceanaGold to Acquire Ausgold in US$549 Million Deal

OceanaGold (TSX:OGC,NYSE:OGC) has agreed to acquire Australian developer Ausgold (ASX:AUC,OTCPL:AUSGF) for US$549 million, securing full ownership of the Katanning gold project in Western Australia.The Ausgold board unanimously recommended the transaction, and major shareholder Dundee... Keep Reading...

Interactive Chart

Latest Press Releases

Related News