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Antilles Gold ( (AU:AAU) ) has issued an update.
Antilles Gold Limited announced a plan to raise $1.0 million through the issuance of shares and options, as outlined in their December 2024 Quarterly Report. The funds will support reduced overheads and a mining joint venture in Cuba, focusing on the Nueva Sabana copper-gold mine’s development. The Asean Group, a significant investor, plans to hold their shares medium to long term and assist in sourcing alternative financing options for the Cuba projects, which could minimize future dilution for Antilles Gold.
More about Antilles Gold
Antilles Gold Limited is engaged in developing previously explored mineral deposits in Cuba, focusing on producing gold, silver, antimony, and copper concentrates. The company operates through a 50:50 joint venture with the Cuban Government’s mining company, GeoMinera SA, to develop projects such as the Nueva Sabana gold-copper mine and the La Demajagua open pit mine. Antilles Gold is committed to exploring major copper targets and operates under favorable foreign investment laws and mining regulations in Cuba.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $5.9M
Learn more about AAU stock on TipRanks’ Stock Analysis page.
