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Antilles Gold Limited (ASX:AAU)

ALERT: Price-sensitive ASX Announcement for AAU
Current share price for AAU : $0.007 -0.004 (-36.36%)+
Announcement
Release
10 Jun 2026 9:18AM
Price at Release
$0.011
Full Release
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Summary
Antilles Gold Limited announced that its Cuban joint venture company, Minera La Victoria S.A., has been designated as a Specially Designated National by the U.S. Treasury Department, which prohibits transactions with U.S. entities and may lead to sanctions for other jurisdictions. In response, Antilles Gold has temporarily suspended its involvement in the joint venture's operations, while its partner, Gold Caribbean Mining S.A., will manage operations. The company is exploring potential administrative responses, including a reconsideration appeal of the designation, and has enlisted a legal firm experienced in U.S. sanctions. Due to the uncertainty, trading of AAU shares and options is suspended on the ASX.
Key Points
  • Antilles Gold Limited (ASX Code: AAU) has a 50% ownership in the Cuban joint venture company Minera La Victoria S.A. (MLV).
  • MLV has been designated as a Specially Designated National (SDN) by the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) on 4 June 2026.
  • U.S. entities and persons are generally prohibited from transacting with SDNs, and secondary sanctions may apply to parties from other jurisdictions.
  • MLV's Nueva Sabana project is in the early stages of construction and not yet generating revenue.
  • Antilles Gold has suspended its participation in MLV’s administration, management, and funding while evaluating the implications of the designation.
  • Gold Caribbean Mining S.A. (GCM), the joint venture partner, will manage MLV during this review period.
  • The company is considering administrative remedies, including seeking reconsideration of the designation by OFAC.
  • Antilles Gold has engaged a New York-based law firm for legal assistance in U.S. sanctions matters.
  • Trading in AAU shares and AAUO options on the ASX has been suspended due to the uncertainty surrounding the designation.
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.