Laguna Dam Arbitration hearings to conclude June 2023The Options...

Laguna Dam Arbitration hearings to conclude June 2023
The Options could be in the money earlier if a decent claim outcome received from Dominican Republic. IMHO

ARBITRATION OF CONTRACTUAL CLAIMS NEARING FINALISATION
FOUR YEARS AFTER THEIR SUBMISSION
Antilles Gold Limited (“Antilles Gold” or the “Company”) (ASX Code: AAU, FSE Code: PTJ,
OTCQB: ANTMF) advises that it has received a positive response from the specialist law firm
handling a subsidiary's A$45 million of contractual claims against the Dominican Republic
Government after their review of final submissions from the defendant's lawyers, which were
received on 10 March 2023.
o The Claims relate to a project which was completed in December 2019, and are being arbitrated by
the World Bank's International Centre for Settlement of Investment Disputes ("ICSID") in
Washington DC.
o The majority of the Claims are for recovery of costs incurred by a subsidiary as a result of the
Government failing to meet its contractual obligations to provide a suitable site for the construction
of a new dam for storage of historic sulphide tailings recovered from the existing Las Lagunas dam
after their processing to extract gold and silver.
o As a result, the processed tailings had to be re-deposited back into the live Las Lagunas dam which
resulted in additional operating costs, and reduced metal production.
o The final hearing of the Arbitration Tribunal is scheduled for the week commencing 5 June 2023 with
decisions anticipated soon thereafter.
o The Company’s law firm has advised that it remains confident of the strength of the subsidiary's
arguments.