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...
Adrian Day, gold bars.

Adrian Day: Gold's Top Driver Now, Plus Bullish Stock Setup

Adrian Day, president of Adrian Day Asset Management, breaks down gold's key price headwinds and what could spark a turnaround. "The most important thing is the war. When that ends, one way or the other, the oil price retreats, CPI expectations come down, the dollar comes down and then it's... Keep Reading...
Nick Hodge, gold bars.

Nick Hodge: Gold's Next Leg Higher, Copper "Wild Card" to Watch

Nick Hodge, publisher at BizarroWorld.com, explains where gold and silver are in the cycle right now, and what could kick off their next leg up. "I think that Kevin Warsh will start to soften his stance," he said."I think you'll see the Fed doing nothing, or in fact cutting, getting more priced... Keep Reading...
Triple One Metals Identifies Drill Targets in Emerging Newfoundland Copper-Gold Belt

Triple One Metals Identifies Drill Targets in Emerging Newfoundland Copper-Gold Belt

Triple One Produces a Map of the Gold and Multiple Metal Zones at Caledonia Brook

Triple One Metals Inc. (“Triple One” or the “Company”) (CSE: TONE) is pleased to announce that it has commenced an expanded technical review and target-ranking program for its 100%-owned Caledonia Brook gold and copper-gold property in central Newfoundland.The program is designed to move... Keep Reading...
Gold bars on a hundred-dollar bill with a fluctuating stock chart background.

WGC: Global Gold ETF Flows Remain Positive in H1 2026

Gold exchange-traded fund (ETF) outflows totaled US$8.9 billion in June, according to the World Gold Council’s (WGC) Gold ETF Flows report. However, global gold ETF flows for H1 2026 remained in the green at US$8 billion despite the unprecedented volatility experienced by the gold market during... Keep Reading...
Lobo Tiggre, gold bars.

Lobo Tiggre: My Oil Stock Buy, Plus Bullish Gold, Silver Scenario

Lobo Tiggre of IndependentSpeculator.com shares why he bought one oil stock after months of waiting, but left the rest of his shopping list untouched. "There was one stock that dropped more than others, or more sharply, more unreasonably, and got to what I saw as an oversold condition, and so I... Keep Reading...
Steve Barton, mine site.

Steve Barton: Gold, Silver, Copper, Uranium — What I'm Buying Now

Steve Barton, host of In It To Win It, shares support and resistance levels for gold and silver prices, also explaining his current stock strategy. "I really like the risk/reward right now on gold," he said during the interview. "I think it's probably one of the best bets we have at this... Keep Reading...

Interactive Chart

Latest Press Releases

Related News