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...
Text reads "Weekly Editor’s Picks," over gold bars and silver bars with a large green upward arrow.

Editor's Picks: Gold, Silver Bounce Back After Warsh Scare, Oil Prices Break US$90

The gold price is in recovery mode after last week's speech from US Federal Reserve Chair Kevin Warsh ate away at its end-of-summer gains.The yellow metal slipped briefly below the US$4,300 per ounce level on Tuesday (September 1), but then bounced back, nearly touching US$4,500.Silver was also... Keep Reading...
Aurum Resources (ASX:AUE)

Aurum Adds More High-Grade Gold at Boundiali’s BST1 Deposit

Aurum Resources (ASX: AUE, “Aurum” or “the Company”) is pleased to announce the latest gold intercepts from an ongoing 100,000m diamond drilling program at its 3.22Moz Boundiali Gold Project1 in Côte d'Ivoire. Aurum received assay results from 22 diamond drill (DD) holes at the BST1 deposit,... Keep Reading...
Adam Rozencwajg, gold bars.

Adam Rozencwajg: Oil's Silent Squeeze, Plus When I'll Buy Gold Stocks Again

Adam Rozencwajg, managing partner at Goehring & Rozencwajg, shares his thoughts on the oil market, explaining why the Iran war hasn't been as disruptive as many initially expected. In his view, a developing bottleneck in refining could be the catalyst that ramps up pressure. "Where do prices go... Keep Reading...
Gold bars rest on scattered US dollar bills.

Gold Futures Rally as US-Iran Escalation Drives Bid

Gold futures rallied early on Thursday (September 3), driven by a concrete military escalation between the US and Iran in the Strait of Hormuz that temporarily overrode macroeconomic headwinds.December gold futures opened at US$4,436.40 per ounce, up 0.5 percent from Wednesday's (September 2)... Keep Reading...
One kilogram gold bars spilling out of safe in central bank vault.

Dutch Authorities Move US$11 Billion Gold Stockpile to London

De Nederlandsche Bank (DNB) has shifted more than 10 billion euros (approximately US$11.6 billion) of its gold reserves out of North America and into London and the Netherlands.Between March and August 2026, the Dutch central bank transferred approximately 86 tons of gold from storage facilities... Keep Reading...

Interactive Chart

Latest Press Releases

Related News