Board Change • May 20
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Director John Zhang was the last director to join the board, commencing their role in 2026. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • May 01
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Director John Zhang was the last director to join the board, commencing their role in 2026. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Apr 21
Antilles Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 2 million. Antilles Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 142,857,143
Price\Range: AUD 0.014
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Annuncio • Apr 17
Antilles Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 2 million. Antilles Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 142,857,143
Price\Range: AUD 0.014
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Annuncio • Mar 30
Antilles Gold Limited, Annual General Meeting, May 28, 2026 Antilles Gold Limited, Annual General Meeting, May 28, 2026. Annuncio • Mar 19
Antilles Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 4 million. Antilles Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 4 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 250,000,000
Price\Range: AUD 0.016
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Annuncio • Jan 14
Antilles Gold Limited Appoints Zhongyi (John) Zhang as Non-Executive Director, Effective January 13, 2026 Antilles Gold Limited has appointed Mr. Zhongyi (John) Zhang as a Non-Executive Director, effective January 13, 2026. John Zhang holds a degree in Mathematics from Oxford University. Board Change • Dec 24
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. 1 independent director (3 non-independent directors). Independent Non-Executive Director Ugo Cario was the last independent director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annuncio • Sep 11
Antilles Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 4.13 million. Antilles Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 4.13 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 300,000,000
Price\Range: AUD 0.007
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 290,000,000
Price\Range: AUD 0.007
Transaction Features: Subsequent Direct Listing Board Change • Aug 18
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. 1 independent director (3 non-independent directors). Independent Non-Executive Director Ugo Cario was the last independent director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annuncio • Aug 08
Antilles Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 0.6675 million. Antilles Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 0.6675 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 130,000,000
Price\Range: AUD 0.005
Discount Per Security: AUD 0.0003
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 3,500,000
Price\Range: AUD 0.005
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Annuncio • Aug 07
Antilles Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 0.0175 million. Antilles Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 0.0175 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 3,500,000
Price\Range: AUD 0.005
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Annuncio • Aug 05
Antilles Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 0.65 million. Antilles Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 0.65 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 130,000,000
Price\Range: AUD 0.005
Discount Per Security: AUD 0.0003
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Annuncio • Jun 21
Antilles Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 1 million. Antilles Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 45,000,000
Price\Range: AUD 0.004
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 25,000,000
Price\Range: AUD 0.004
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 160,000,000
Price\Range: AUD 0.004
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 20,000,000
Price\Range: AUD 0.004
Transaction Features: Subsequent Direct Listing Annuncio • May 31
Antilles Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 1 million. Antilles Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 250,000,000
Price\Range: AUD 0.004
Transaction Features: Subsequent Direct Listing Annuncio • Mar 28
Antilles Gold Limited, Annual General Meeting, Apr 30, 2025 Antilles Gold Limited, Annual General Meeting, Apr 30, 2025. Location: 55 kirkham road, bowral, nsw 2576, Australia Annuncio • Mar 03
Antilles Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 1.05 million. Antilles Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 1.05 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 93,750,000
Price\Range: AUD 0.004
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 37,500,000
Price\Range: AUD 0.004
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 131,250,000
Price\Range: AUD 0.004
Transaction Features: Subsequent Direct Listing Annuncio • Feb 19
Antilles Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 1 million. Antilles Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 212,500,000
Price\Range: AUD 0.004
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 37,500,000
Price\Range: AUD 0.004
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Board Change • Dec 24
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. 1 independent director (3 non-independent directors). Independent Non-Executive Director Ugo Cario was the last independent director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Sep 14
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$4.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$4.2m free cash flow). Share price has been highly volatile over the past 3 months (29% average weekly change). Earnings have declined by 36% per year over the past 5 years. Shareholders have been substantially diluted in the past year (115% increase in shares outstanding). Revenue is less than US$1m (US$74k revenue). Market cap is less than US$10m (AU$7.31m market cap, or US$4.90m). Annuncio • Jun 18
Antilles Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 3.98614 million. Antilles Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 3.98614 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 996,534,993
Price\Range: AUD 0.004
Transaction Features: Rights Offering New Risk • Jun 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 15% per year over the past 5 years. Shareholders have been substantially diluted in the past year (72% increase in shares outstanding). Revenue is less than US$1m (US$23k revenue). Market cap is less than US$10m (AU$3.99m market cap, or US$2.63m). Annuncio • May 31
Antilles Gold Limited Announces Resignation of Pamela Bardsley as Company Secretary Antilles Gold Limited announced that Ms. Pamela Bardsley has resigned as Company Secretary, following her retirement. Tracey Aitkin, who was appointed as a Co-Company Secretary of Antilles Gold on 5 January 2024 will continue as Company Secretary and Chief Financial Officer. New Risk • Apr 30
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$11.9m (US$7.77m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 15% per year over the past 5 years. Shareholders have been substantially diluted in the past year (87% increase in shares outstanding). Revenue is less than US$1m (US$23k revenue). Market cap is less than US$10m (AU$11.9m market cap, or US$7.77m). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Annuncio • Apr 26
Antilles Gold Limited announced that it expects to receive AUD 1 million in funding from Patras Capital Limited Antilles Gold Limited announced a private placement of a convertible note for gross proceeds of AUD 1,000,000 on April 26, 2024. The transaction included participation from new investor Patras Capital Limited. The note has a maturity date of April 30, 2026. The note holder may convert all or part of any outstanding amount of the convertible note at a conversion price equal to CAD 0.04 per share; or a 10% discount to the numeric average of the lowest 5 daily VWAP’s in the 15 trading days prior to conversion which cannot be less than AUD 0.015 per share. The company has issued 27,000,000 shares at AUD 0.02 each to Patras Capital Limited as security shares. Annuncio • Apr 16
Antilles Gold Limited, Annual General Meeting, May 17, 2024 Antilles Gold Limited, Annual General Meeting, May 17, 2024, at 10:30 AUS Eastern Standard Time. Location: The Canberra Room, Sofitel Wentworth Sydney, 61-101 Phillip Street, Sydney New South Wales Australia Agenda: To consider adoption of remuneration report; to consider re-election of Mr. James Tyers as a director of the company; to consider ratification of prior issue of shares to lake capital partners ltd; to consider ratification of prior issue of security shares pursuant to convertible note deed; and to transact such other business matters. Reported Earnings • Mar 28
Full year 2023 earnings released: US$0.007 loss per share (vs US$0.021 loss in FY 2022) Full year 2023 results: US$0.007 loss per share (improved from US$0.021 loss in FY 2022). Net loss: US$4.14m (loss narrowed 47% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 23 percentage points per year, which is a significant difference in performance. Annuncio • Mar 02
Antilles Gold Limited announced that it expects to receive AUD 3 million in funding from Patras Capital Limited Antilles Gold Limited announced that it has entered into a securities purchase agreement to issue 3 convertible loan notes at a principal amount of AUD 1,000,000 per note for the gross proceeds of AUD 3,000,000 on March 1, 2024. Each loan note will be convertible at a conversion price of AUD 0.04 per share and will have a zero coupon rate and will be mature on a maturity date of March 5, 2026. The transaction will include participation from new investor, Patras Capital Limited. Annuncio • Jan 09
Antilles Gold Limited Appoints Tracey Aitkin as Company Secretary Antilles Gold Limited announced that Ms. Tracey Aitkin was appointed as a company secretary of the company on 5 January 2024. Ms. Aitkin will continue in her role of chief financial officer. Annuncio • Dec 07
Antilles Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 1.064044 million. Antilles Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 1.064044 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 46,262,768
Price\Range: AUD 0.023
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Annuncio • Nov 29
Antilles Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 1.0465 million. Antilles Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 1.0465 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 45,500,000
Price\Range: AUD 0.023
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Annuncio • Sep 19
Antilles Gold Limited Announces Review of Corporate Strategy and Board Restructuring Antilles Gold Limited announced that it is restructuring its Board and senior management, and intends to engage a suitably experienced advisory group to review the Company's corporate strategy over the next two to three years. Restructuring of the Board and senior management has commenced with the following: Brian Johnson will step down as Executive Chairman on 31 October 2023 but remain as Non-Executive Chairman until the review is completed and a new Chairman is appointed. James Tyers, who is responsible for operations in Cuba, has had his Employment Agreement to act as CEO and Executive Director, extended to 31 December 2025. Tracey Aitkin, who is Group CFO, will take on the additional role of Company Secretary, and has had her Employment Agreement extended to 31 December 2025. Steve Mertens, who is a mining engineer seconded by Antilles Gold to the position of General Manager of the Cuban joint venture company, Minera La Victoria, will continue in this role. Dr. Christian Grainger is a highly experienced geologist who has been involved in the discovery of a number of major gold and copper deposits, will continue as Exploration Director for projects in Cuba. Dr. Jinxing Ji, who is an internationally renowned metallurgist with extensive experience with gold and copper ores, will continue as Technical Director for projects in Cuba. New Risk • Sep 15
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$4.3m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$4.3m free cash flow). Earnings have declined by 0.9% per year over the past 5 years. Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$14.3m market cap, or US$9.20m). Minor Risk Share price has been volatile over the past 3 months (15% average weekly change). New Risk • Sep 13
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 51% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Revenue is less than US$1m (US$6.9k revenue). Market cap is less than US$10m (AU$14.3m market cap, or US$9.18m). Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$3.0m). Share price has been volatile over the past 3 months (15% average weekly change). New Risk • Aug 09
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.8m (US$9.65m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Shareholders have been substantially diluted in the past year (67% increase in shares outstanding). Revenue is less than US$1m (US$6.9k revenue). Market cap is less than US$10m (AU$14.8m market cap, or US$9.65m). Minor Risk Less than 1 year of cash runway based on current free cash flow (-US$3.0m). Annuncio • May 10
Antilles Gold Limited, Annual General Meeting, Jun 15, 2023 Antilles Gold Limited, Annual General Meeting, Jun 15, 2023. Annuncio • May 06
Antilles Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 3.06 million. Antilles Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 3.06 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 90,000,000
Price\Range: AUD 0.034
Discount Per Security: AUD 0.00204
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Reported Earnings • Apr 01
Full year 2022 earnings released: US$0.021 loss per share (vs US$0.016 loss in FY 2021) Full year 2022 results: US$0.021 loss per share (further deteriorated from US$0.016 loss in FY 2021). Net loss: US$7.75m (loss widened 102% from FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 131 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Mar 11
Executive Chairman recently bought AU$92k worth of stock On the 9th of March, Brian Johnson bought around 3m shares on-market at roughly AU$0.037 per share. This transaction amounted to 2.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Brian has been a buyer over the last 12 months, purchasing a net total of AU$328k worth in shares. Annuncio • Jan 31
Antilles Gold Limited Commences Ground Magnetic and Induced Polarization Surveys on the El Pilar Copper-Gold Porphyry Deposit in Central Cuba Antilles Gold Limited advised that Ground Magnetic and Induced Polarization Surveys have commenced on the El Pilar copper-gold porphyry deposit in central Cuba. Interpretation of survey data is expected to be completed in approximately 2 months. The ground I.P. and magnetic surveys will assist in determining the extent of porphyry copper-gold mineralization by both locating primary sulphide mineralization at depth and mapping the distribution of porphyry intrusive phases already identified in drilling. An historic aeromagnetic survey indicates a large anomalous area related to this porphyry copper-gold system. Drilling of 5 cored holes 700m into the porphyry deposit will commence immediately following completion of the surveys. A recent cored hole into the outer zone of the porphyry deposit grading 1.23% Cu over its 134m length and open at depth indicates the potential of the deposit. The 17,800ha Concession covering the El Pilar copper-gold porphyry system, and the overlying gold-copper oxide cap is currently held in an Exploration Agreement with the Cuban Government's mining company, GeoMinera. Negotiations have commenced on the terms of a second joint venture with GeoMinera to which the Concession will be transferred prior to conducting additional exploration, and possible future development. The Company will form a new Cayman Island's registered subsidiary, Antilles Copper Inc, to hold its interest in the El Pilar joint venture, and will seek Government approval to increase the level of foreign ownership in order to make the potentially significant copper project more attractive for possible participation of a major international mining group, at an appropriate time in the future. Annuncio • Jan 24
Antilles Gold Limited Advises Gold Grades Up to 190G/T from Outcropping Oxide Deposit At EL Pilar, Cuba Antilles Gold Limited advised that it has received assays from SGS Canada from the recent 1,800m cored drilling program on the out-cropping oxide gold domain at El Pilar in central Cuba. Preliminary results from the Cuban Government's laboratory, LACEMI. The new assays have generally replicated those from LACEMI, however, gold over-range assays for high grade samples (+40 g/t Au) were unable to be assayed in Cuba. Re-assaying these over-range, and high-grade gold zones at SGS has significantly upgraded the intervals in some sections, which suggests the presence of coarse gold, further adding to the very high-grade, and significant nature of these intervals at El Pilar from near surface. HIGHLIGHTS: Hole PDH 002 - 53.5m at 19.06g/t Au from10.0m including 16.4m at 41.64g/t Au; Hole PDH 001 - 13.0m at 45.17g/t Au from surface, including 3.0m at 194g/t Au; Hole PDH 001A -4.3m at 4.96g/t Au from surface, and 16.3m at 3.31g/t Au from 14.3m; Hole PDH 003 - 8.0m at 5.88g/t Au from surface; Hole PDH 003A - 18.0m at 2.23g/t Au from 4.0m. Sampling Techniques and Data are set out in the JORC Code 2012 Edition Template attached. Assays from the underlying oxide copper domain at El Pilar have not yet been received from SGS. Negotiations have commenced to establish a joint venture between subsidiaries of Antilles Gold and the Cuban Government's mining company, GeoMinera, to which the 17,800ha El Pilar concession will be transferred from the Company's existing Exploration Agreement with GeoMinera. The existing concession is currently being divided into two separate concessions with the same boundaries. The first will allow mining to a depth of 100m on the gold-copper oxide deposit, and the second will allow mining to any depth below 100m on the large underlying copper-gold porphyry system which is currently Antilles Gold's primary target in Cuba. The Company is also negotiating to expand the oxide concession to cover adjacent areas where extensive artisanal mining in the past is an indicator of the reasonable prospect of increasing oxide gold resources in the future. With respect to the porphyry concession, a preliminary drilling program of 5 cored holes to a vertical depth of approximately 600m will commence as soon as the current Ground Magnetics and Induced Polarisation surveys are completed and have been interpreted in around six to seven weeks. This work will be undertaken at Antilles Gold's cost as part of the review process for potential projects asset out in the Exploration Agreement, and be refunded from any future development Subject to the results of the preliminary drilling, Antilles Gold intends to subscribe additional equity to the El Pilar joint venture to enable a 20,000m drilling program, and associated metallurgical test work to be carried out from around July 2023. Antilles Gold intends to raise funding for its joint venture equity and the proposed drilling programs in a manner least dilutive for shareholders. Annuncio • Jan 05
Antilles Gold Limited Announces Stepping Down of Brian Johnson as Executive Chairman to Non-Executive Role in 12 Months Antilles Gold Limited advised that Mr. Brian Johnson will continue as Executive Chairman of the Company for a further 12 months on the same terms and conditions as previously advised to the ASX. He will then step down to a non-executive role. Annuncio • Jan 03
Antilles Gold Limited Announces Updated Scoping Study for La Demajagua Open Pit Mine to Be Completed This Month Antilles Gold Limited announced that the updated Scoping Study for the proposed La Demajagua open pit mine in Cuba will be finalized in around two to three weeks after confirmation of the likely sale price of the antimony - gold - silver concentrate to be produced from the mine. Based on metallurgical test work, current JORC Resources, and an updated pit shell, the revised Scoping Study has adopted an ore feed rate of 900,000tpa to the crusher, and a mine life of 8 years. The mine is planned to produce two concentrate products; approximately 50,000tpa of gold concentrate grading between 36g/t and 38g/t Au, 150g/t Ag, and approximately 28% As approximately 8,000tpa of antimony concentrate grading 36% to 40% Sb, 28g/t Au, approximately 2,000g/t Ag, and approximately 5.5% As. This represents production of approximately 90,000oz Au equivalent per year in concentrates. Continuing metallurgical test work will determine final quantities and grades of the concentrates for inclusion in the project's Definitive Feasibility Study ("DFS"). An acceptable indicative offer has been received from a major international trading company for the gold concentrate that will ultimately be shipped to several smelters that can accommodate the high As levels. The joint venture company, Minera La Victoria SA, which is developing the La Demajagua mine has engaged Brisbane based consultants, West End Mining Co ("WEMCO"), to assist in marketing the antimony concentrate due to their experience in successfully marketing similar antimony concentrates, and their established contacts with antimony smelters. WEMCO has provided the target specification for the La Demajagua concentrate to specialist antimony smelters in China, Vietnam, India, and Oman, all of whom have indicated strong interest in the product. WEMCO will advise their preferred buyer and appropriate pricing within two weeks which will allow the revised Scoping Study to be finalized a few days later. Additional antimony assays from the recent drilling program at La Demajagua, ongoing metallurgical test work, and further engineering by the preferred turnkey process plant constructor will refine the design and costing of the flotation circuit for inclusion in the DFS. In parallel with the DFS, which is expected to be completed in March/April 2023, a specialist South African based engineering group is undertaking a review of the prospect of increasing the project's profitability by producing doré from the arsenopyrite gold concentrate through a relatively small BIOX/CIL plant. Preliminary indications are that this concept will be worth considering. Board Change • Nov 17
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. 1 independent director (3 non-independent directors). Independent Non-Executive Director Ugo Carlo was the last independent director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Aug 02
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. 1 independent director (3 non-independent directors). Independent Non-Executive Director Ugo Cario was the last independent director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. 