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Antilles Gold Limited (ASX:AAU)

ALERT: Price-sensitive ASX Announcement for AAU
Current share price for AAU : $0.007 0 (0%)+
Announcement
Release
11 Sep 2025 8:35AM
Price at Release
$0.007
Full Release
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Summary
Antilles Gold Limited has signed a binding Memorandum of Understanding (MoU) with Shandong Xinhai Mining Technology Systems Inc, for the engineering, procurement, and construction (EPC) contract for the Nueva Sabana Copper-Gold Mine in Cuba. The US$29.5 million EPC contract covers 85% of the development costs, with Xinhai providing a US$17.1 million credit facility by deferring EPC payments. Additional funding of US$18 million is being arranged, including share subscriptions by Mr. Zhang Zhongyi, a senior Xinhai executive. The MoU includes provisions for further collaboration on the La Demajagua project and the potential production of high-purity antimony ingots, highlighting Xinhai's strategic role and Antilles Gold's expansion plans in Cuba.
Key Points
  • Binding MoU signed with Shandong Xinhai for EPC contract at Nueva Sabana Mine.
  • EPC contract valued at US$29.5 million covers 85% of project costs.
  • Xinhai to provide US$17.1 million credit facility by deferring payments.
  • Antilles Gold and Xinhai arranging additional US$18 million funding.
  • Mr. Zhang Zhongyi subscribes for 590 million AAU shares, raising A$4.13 million.
  • MoU includes potential collaboration on La Demajagua project.
  • Antilles Gold plans to produce high-purity antimony ingots.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.