Money Genius Group
  • Investing
  • World News
  • Stock
  • Tech News
Investing

Concentrate Offtake Agreements Signed for Nueva Sabana Copper-Gold Mine, Cuba

by May 27, 2025
May 27, 2025

Antilles Gold Limited (“Antilles Gold” or the “Company”) (ASX: AAU) advises that 50% owned Cuban joint venture mining company, Minera La Victoria SA, and a major global commodities trading house have signed two off-take agreements for the purchase of the gold concentrates and the copper/gold concentrates to be produced by the Nueva Sabana mine (“Nueva Sabana Mine”).

The proposed payables for metals outlined below are 12% higher for the gold concentrate, and the same for the copper/gold concentrate, that were included in the Nueva Sabana Pre-Feasibility Study (‘PFS’), the results of which were advised to ASX on 13 January 2025, together with the production schedule and target specifications for the two concentrates on market-based terms

Additional details on the commercial arrangements include the following:

For each offtake, provisional payment of 90% of provisional value of the concentrate 5 business days after shipment from the port of loading and buyer’s receipt of various original documents;
For each offtake, final invoice shall be issued after final assays, weights and prices are known, and final Payment shall be made within 5 business days of buyer’s receipt of the final invoice, less the provisional payment;
For each offtake, shipment to be approximately even spread throughout the calendar year in minimum bill of lading parcels of ~1,000dmt of concentrate (estimated to be equivalent to around two weeks of production from the Nueva Sabana Mine);
For each offtake, no minimum or maximum volume commitments; and
For each offtake, there are defined events of default which give rise to certain rights, including the right to suspend and/or terminate the offtake agreements.

The counterparty is a major global commodities trading house with a diverse portfolio including substantial interests in metals and minerals and an annual group revenue in excess of billions of dollars. The Company confirms that it does not consider the identity of the counterparty to be information that a reasonable person would expect to have a material effect on the price or value of the Company’s securities. The Company confirms that this announcement contains all material information relevant to assessing the impact of the off-take agreements on the price or value of the Company’s securities, and is not misleading by omission.

LISTING RULE CONFIRMATION

The Company confirms that all material assumptions underpinning the production target and the forecast financial information derived from the production target in the revised MRE for Nueva Sabana advised to ASX on 2 October 2024 continue to apply and have not materially changed.

The Company also confirms that it is not aware of any new information or data that materially affects the information included in previous market announcements and all material assumptions and technical parameters underpinning the mineral resources in the 13 January 2025 market announcement continue to apply and have not materially changed.

The Chairman of Antilles Gold, Mr Brian Johnson, commented“finalisation of the concentrate off-take agreements is a major step forward in arranging financing for the Nueva Sabana project, and positive negotiations are progressing with potential lenders for the construction of the mine.

The mine is fully permitted, and the aim is to finalise the financing within the next 3 months to allow construction commencement, with commissioning 12 months later”.

Click here for the full ASX Release

This post appeared first on investingnews.com
previous post
Exploration Target at Golden Crown to Focus on Resource Growth
next post
Crypto Market Review: Trump Media Planning US$3 Billion Raise to Buy Bitcoin, Other Coins

You may also like

Crypto Market Review: Trump Media Planning US$3 Billion...

May 27, 2025

Crypto Market Review: Trump Media Planning US$3 Billion...

May 27, 2025

Concentrate Offtake Agreements Signed for Nueva Sabana Copper-Gold...

May 27, 2025

Exploration Target at Golden Crown to Focus on...

May 27, 2025

Exploration Target at Golden Crown to Focus on...

May 27, 2025

Completion of Airborne Survey Across NT Uranium Projects

May 27, 2025

Consensus 2025: DeFi, Stablecoins and Tokenization Signal Crypto’s...

May 26, 2025

Skyharbour’s Partner Company Mustang Energy Commences Field Program...

May 26, 2025

Uranium Investors Bullish as Trump Signs Executive Orders...

May 26, 2025

Crypto Market Review: Bitcoin on Track to Reach...

May 26, 2025

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Learning Painful Lessons is the Start to Building a Successful Trading or Investing Strategy

      May 26, 2025
    • Week Ahead: NIFTY Stays In Technically Challanging Situation; Sector Rotation Shows Likely Change In Leadership

      May 25, 2025
    • My Durable Advantage as an Investor is My Experience: Here are Seven Examples

      May 24, 2025
    • 3 Stocks to Watch While Everyone’s Staring at NVIDIA

      May 24, 2025
    • Automate Your Scans with Ease! Sample Scan Library + Scheduled Scans Walkthrough

      May 24, 2025
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 moneygeniusgroup.com | All Rights Reserved

    Money Genius Group
    • Investing
    • World News
    • Stock
    • Tech News