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...
Gold bars rest on overlapping Canadian banknotes, including denominations of 5, 10, 50, and 100 dollars.

Boroo Plans C$1.5 Billion Investment to Restart Yukon’s Eagle Gold Mine

Singapore-based Boroo has agreed to acquire Victoria Gold Corp. for up to C$140 million and plans to invest more than C$1.5 billion in the Eagle Gold Mine in Yukon, according to a Thursday (October 22) news release.The company will invest in environmental remediation, mine restart activities and... Keep Reading...
Gold bars on scale over red digital currency background. Text reads "Weekly Editor's Picks."

Editor's Picks: Gold Price Slips Below US$4,000, Expert Says US$3,600 Could be Next

It was a week of downward momentum for gold, which tumbled from above US$4,100 per ounce to below US$4,000 by the end of the period. Silver took a hit as well, sinking from close to US$58 per ounce to below US$54. Those prices represent important levels for both metals. Investors tend to focus... Keep Reading...
Gold bars arranged in rows.

Russia’s Gold Reserves Hit Lowest Level Since 2019

Russia’s gold reserves continued to shrink in September, with central bank holdings falling by approximately 62 metric tons since December 2025. The country’s gold holdings declined by 6.2 metric tons last month to approximately 2,264 metric tons, reaching their lowest level since 2019,... Keep Reading...
A gold house-shaped puzzle piece stands on a plain light gray background.

Infographic: A New US Home Now Costs Under 100 Ounces of Gold

From late 2025 through mid-2026, a median-priced new US home cost less than 100 ounces of gold in every quarter, the first time that’s happened since data collection began in 1963. The previous low came in 1980, at the end of gold’s 1970s run, when the figure bottomed out at exactly 100... Keep Reading...
The Brazilian flag on a green background overlays numerous gold bars; text reads: FINE GOLD 999.9 NET WT 1000g.

Belo Sun’s Volta Grande Gold Project License Temporarily Suspended

Belo Sun Mining (TSX:BSX,OTCQB:BSXGF) is in the midst of another legal challenge at its Volta Grande gold project in Brazil, where the Supreme Court has temporarily suspended the installation license pending approval of a settlement agreement.In a Wednesday (October 21) news release, the company... Keep Reading...
Craig Tindale, mining truck.

Craig Tindale: Gold's New Era — Prepare Now for System Reset

Private investor and Substack newsletter writer Craig Tindale shares his thoughts on recent and potential future actions from the US Department of the Treasury, explaining their impact on the bond market, national debt and ultimately the gold sector. "I think we're heading into a very... Keep Reading...

Interactive Chart

Latest Press Releases

Related News