Mcap 22m
shares on issue under 300milllion
Director Brian Johnson has regularly bought on market and owns 30%
JurisdictionAntilles project is in Cuba run by a communist govt. Biden want's to help Cuban's over there but using the fact they cannot control where the money goes as an excuse. if the money doesn't end up in Cubans hands and goes into hands of the officials he wont offer support. However there is stong support to improve the current situation. If the situation doesn't improve AAU will likely not be affected as gold and silver concentrate is likely to be sent to China and Russia. If it does improve it can only benefit AAU and improve the views of potential investors. South Florida law makers are urging Biden to help the Cuban people
ResourcePlenty has drilling has been completed. AAU are 60% through a 25,000m drilling campaign which is huge for a market cap this. The resource is an old mine with refractory gold. Previously 60,000t mined at 14g/t (1950s). In the 1980s, 80,000t processed.
The inability to process the refractory concentrates prevented operations from being expanded to full scale production.
The gold and silver with its high As content is going to mean concentrate grades are not as good and more money is spent to refine it. Probably puts a number of investors off.
Antilles on the ball with test work and expertise
Dr Ji holds a number of processing patents related to gold, silver, copper, arsenic and pressure oxidation, and
will be a valuable member of the Antilles Gold executive team involved in the potential development of a
pipeline of prospective gold and copper/gold projects available to MLV, including La Demajagua.
Le Damajagua
Current testwork on drill core at SGS’s laboratory will establish preliminary estimates of flotation recoveries
and concentrate grades within three months, with final estimates in mid 2022. Concentrate samples should
also be available to allow commencement of negotiations for off-take agreements with potential buyers in
early 2022.
It is anticipated the DFS will be completed in September/October 2022 in time for a development decision in
Q4 2022 which is expected to be positive, and lead to commissioning of the mine in Q4 2023, or Q1 2024.
Geological data from 17,000m of cored drill holes (237
holes), and an 80m shaft at Florencia with 1200m of drifts
and cross cuts, has been made available to Antilles Gold.
Florencia and MaclamaThe priority target will be the adjacent Florencia and Maclama sulphide gold deposits that have the potential
to produce a high grade concentrate at a centralised plant.
The Florencia low sulphidation deposit has two shafts, 80m and 30m into the mineralized zone with a total of
1260m of galleries
Metallurgical test work on Florencia ore by SGS
Lakefield in Canada indicated concentrate grades
could be up to 120 g/t Au and 90 g/t Ag with a very
low arsenic content (0.05% As).
The deposits are approximately 7km apart and the plan is
to develop two pits with ore being transported to a central
plant for the production of concentrate.
Annual concentrate production of only 15,000 tonne from
each mine at a conservative grade of 50g/t Au would result
in the production of approximately 50,000 oz Au per year
plus silver credits.
These properties, which are the subject of an Exploration
Agreement with GeoMinera, will be further explored by
Antilles Gold in 2022-23 and a Prefeasibility Study
undertaken prior to the transfer of the two Mining
Concessions to MLV for potential project development in
2025.
It is anticipated that if the development proceeds,
the capital costs for the two relatively small mines
will be able to be met from surplus cash flow
generated by the La Demajagua mine.
Following the final stage of the drilling program between October and December 2021 and the estimation of
JORC Resources, representative composite samples of ore will be subjected to further test work by SGS, as
part of the DFS for the La Demajagua mine.
Important Quote for the La Demajagua of which they are moving through to Definitive Feasibility Stage soon
Results from MLV’s financial modelling indicate very
acceptable returns but cannot be advised to the ASX
prior to establishment of JORC Indicated Resources
in early 2022.
Le Demajagua FeasibilityOther elements of the DFS including detailed design for mine infrastructure and a small land-backed wharf to
be constructed 4km from the mine site, environmental approvals, geotechnical and hydrogeology reports, and
metallurgical testwork for the preliminary design of an 800,000 tpa flotation circuit and estabilishment of
recoveries and concentrate grades, are progressing to schedule.
Cuba has recently opened up opportunities for contract mining with one Spanish company already operating.
Antilles Gold will now be able to investigate the cost benefits of reduced capital, but possibly increased operating
costs, using contractors for the La Demajagua mining operations.
Latest drill hole exceptional, Drilling commenced 4 months earlier than expected.
Quietly over achieving every step of the way.
Expect the resource to expanded
Golden Hill
will not be drilled until 2023 but looks to be very promising indeed. VMS Copper Gold
The second priority target will be the very large, near surface, VMS high sulphidation deposit at Golden Hills,
15km from Florencia. According to Antilles Gold’s consultant geologist who was actively involved in the
deposit’s extensive exloration by a Canadian mining company in the 1990’s, “the potential of the Golden Hills
deposit to define large Au and Cu sulphide resources is excellent.”
As you can see there are a number of incentives in favour of AAU that it only receives because it is situated in Cuba.
In addition to Govt incentives
Electricity
0.000 USD for business which includes all components of the electricity bill such as
Cost of power
distribution and taxes.
For comparison, the average price of electricity in the world for that period is 0.123 USD for businesses
Australia
Govt royalty on mining is also 5% so a huge cost saving compared to the Cuban govt royalty of only 3%As you can see this ample exploration upside. There is no wondering whether they will build a mine. it is certainly all pointing towards it happening in the near future with self funding for nearby mines.
AAU gets rights to the cream of the crop, fortunate to have first dibs of a range of areas which are underexplored. They review and decide which deposits are worth exploring first, with full support of the Cuban Govt who own 49%.
Cashed up,
Possibly 12m to enter the kitty from a lawsuit that it looks they may benefit from.
Little downside from here, and as good as a risk vs reward investment you can get.
Coming up, Met work results, more assays, resource estimate, DFS, decision to mine. A lot in the pipeline.
(20min delay)
