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...
View from a helicopter departing HiView Resources’ and Omega Pacific’s 2026 exploration camp

Toodoggone: Gold, Silver and Copper District in British Columbia

BC's Toodoggone district is reemerging as a hub for gold, copper and silver.The Toodoggone is continuing to gain attention and renewed exploration. With a history of mining activity demonstrated by past-producing, ongoing development of advanced-stage projects and new discoveries, the district... Keep Reading...
iMetal Resources Files Gowganda West Technical Report

iMetal Resources Files Gowganda West Technical Report

iMetal Resources Inc. (TSXV: IMR) (OTCQB: IMRFF) (FSE: A7VA) ("iMetal" or the "Company") is pleased to announce the filing of a technical report (the "Report"), dated effective October 15, 2026, for its flagship Gowganda West gold project. The Report is authored by R. Tim Henneberry, P.Geo., a... Keep Reading...
Person counts money over documents with gold bars and coins on white desk.

Precious Metals Panelists: Is the Gold Market Too Complicated for Investors?

Gold's long-term investment case may be strengthening, but recent price volatility has left investors questioning whether the precious metals rally has further room to run. At this year's New Orleans Investment Conference, a panel of market experts argued that while the near-term outlook is... Keep Reading...
Jeff Phillips, mine site.

Jeff Phillips: Biggest Commodities Bull Market? How I'm Positioning

Strategic investor Jeff Phillips shares his thoughts on the current commodities cycle, saying that although there have been peaks and troughs, it's still in the early stages. "I believe this is a bull market that will be talked about long after I'm gone — I think this is going to be the biggest... Keep Reading...
Infinity Mining (ASX:IMI)

Extremely High-Grade Antimony with Gold Identified at Surface for Tanjil Dome

Trench sampling intervals return up to 104 g/t AuEq; geology has similarities with the Sunday Creek (ASX: SX2) gold-antimony deposit 100 km away; drill planning underway

Infinity Mining Limited (ASX: IMI) is pleased to report highly promising gold and antimony assays from the initial channel sampling program at Tanjil Dome, where exploration is being undertaken in joint venture with Mining One Consultants. HIGHLIGHTS Assays from trench samples return extremely... Keep Reading...

Interactive Chart

Latest Press Releases

Related News