Australia's Antilles Gold rises on potential second mine in Cuba

Antilles Gold

22/06/2022 04:38

** Shares of miner Antilles Gold Ltd  AAU.AX  rise as much
as 7.8% to A$0.069, post their biggest intraday pct gain since
May 20
    ** Co says it's confident its joint venture with GeoMinera,
the Cuban govt's mining company, will be able to develop an open
pit mine as its second project to produce copper and zinc
 urn:newsml:reuters.com:*:nASX3qGP9V
    ** Mine to be located in the Antonio polymetallic deposit in
central Cuba 
    ** Proposed first-stage project at Antonio expected to
involve development cost between $25 mln and $30 mln
    ** Preliminary metallurgical test work from drilling
programme at Antonio scheduled to commence in September,
expected to provide indication of metal recoveries - co 
    ** More than 2.5 mln shares change hands, compared with the
30-day average volume of about 886,000 shares 
    ** Stock down 18% this year, as of last close

 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))