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Antilles Gold Limited (ASX:AAU)

ALERT: Price-sensitive ASX Announcement for AAU
Current share price for AAU : $0.006 -0.001 (-14.29%)+
Announcement
Release
8 Oct 2026 9:20AM
Price at Release
$0.007
Full Release
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Summary
Antilles Gold Limited announced that its non-renounceable rights issue, originally launched on 8 September 2026 to raise about $2.55 million before costs, closed significantly oversubscribed, reflecting strong support from existing shareholders and new investors; to meet part of the excess demand, the company agreed to a follow-on placement of $900,000 on the same terms, bringing total capital raised to $3,450,406 before costs, with 492,914,969 new fully paid ordinary shares issued at $0.007 each and 492,914,969 free attaching options exercisable at $0.02 and expiring on 31 December 2028, expected to trade under ASX code AAUOD, while around $22,000 will be refunded to applicants who applied for more securities than allocated; proceeds will be used to fund fixed costs over the next 12 months, general working capital and offer costs, strengthening the company’s position as it seeks to lift the recently imposed U.S. sanction affecting its 50%-owned Cuban mining company Minera La Victoria S.A. and progress the Nueva Sabana gold-copper mine and the La Demajagua gold-silver-antimony project.
Key Points
  • The rights issue seeking approximately $2.55 million closed significantly oversubscribed.
  • Antilles Gold will raise an additional $900,000 through a follow-on placement on the same terms as the rights issue.
  • Total funds raised will be $3,450,406 before costs.
  • The company will issue 492,914,969 new shares at $0.007 each and 492,914,969 free attaching options.
  • The new options are exercisable at $0.02 and expire on 31 December 2028, with expected ASX code AAUOD.
  • Approximately $22,000 will be refunded to applicants who applied and paid for more securities than allocated.
  • Proceeds will be used for fixed costs over the next 12 months, general working capital and offer-related costs.
  • The follow-on placement includes 128,571,429 new shares and 128,571,429 new options issued under Listing Rules 7.1 and 7.1A.
  • Mahe Capital Pty Ltd acted as lead manager and underwriter to the rights issue and advised on the follow-on placement.
  • The company said the funding supports its efforts to address the U.S. sanction on Minera La Victoria S.A. and advance the Nueva Sabana and La Demajagua projects.
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.