Company Background

Antilles Gold Limited was listed on the Australian Securities Exchange (“ASX”) in 2006 under its previous name of PanTerra Gold Limited, to raise capital for its subsidiary, EnviroGold (Las Lagunas) Limited to develop the Las Lagunas gold tailings retreatment project in the Dominican Republic.

The Las Lagunas project was a major component of an environmental remediation program to substantially reduce acid mine drainage from the stored sulphide tailings through their oxidation, with the Company entitled to recover precious metals.

The Las Lagunas project involved the recovery of approximately 5.0 million tonnes of stored refractory tailings from the Pueblo Viejo mine, by dredging, production of a float concentrate, ultrafine grinding, oxidation, and production of dore through CIL and elution circuits.

The installed capacity of the Las Lagunas Albion/CIL plant which operated from July 2012 to December 2019, was 200,000 tpa.

Due to unexpected contaminants in the stored tailings and design issues with the world’s first Albion circuit for recovery of precious metals, gold recoveries from concentrate were restricted to 60% rather than the +90% that would otherwise have occurred with a clean concentrate from a mine, and an improved plant design.

However, the Directors of Antilles Gold, and the holder of Albion patents, Glencore Technology, are confident a second generation plant design would achieve +95% gold recoveries from clean concentrates as is achieved at GeoPro Mining’s, Albion/CIL plant at Ararat in Armenia.

In addition to the issue of lower than expected gold recoveries, the Las Lagunas project had to contend with the Dominican Republic Governments’ failure to meet its contractual obligation to provide a site for EnviroGold to construct a dam for deposition of the reprocessed tailings.

This resulted in EnviroGold having to deposit tailings behind rock retaining walls constructed within the confines of the dam from which they were originally recovered.

The resultant additional operating costs are the subject of a Claim on the Government for over US$30 million which is being arbitrated at the World Bank’s International Centre for Settlement of Investment Disputes (“ICSID”) in Washington DC with a decision scheduled for mid 2023.

The Las Lagunas processing plant has been dismantled and the fully depreciated items of equipment are stored at Las Lagunas for either sale, or incorporation in any new plant.

Las Lagunas Tailings Redeposition Behind Rock Embankments

Experienced Directors

Brian Johnson

Executive Chairman

James Tyers

Chief Executive Officer

Ugo Cario

Non-Executive Director

Angela Pankhurst

Non-Executive Director 

Mr Johnson is a graduate in civil engineering from the University of Western Australia and a Member of the Institute of Engineers, Australia with extensive experience in the construction and mining industries in Australia, South East Asia and North America. He was instrumental in establishing successful companies, Portman Limited and Mount Gibson Iron Limited in the iron ore industry, and South Blackwater Coal Limited and Austral Coal Limited in the coal sector.

He has previously been a director of two listed gold producers, and of companies with Stock Exchange listings in London, New York, Vancouver, and Australia.

Mr Tyers is a member of the AusIMM and has over 30 years’ experience in the mining industry involving senior management roles in gold and iron ore operations. He was Alternate Manager for the Palm Springs Gold Mine in the Kimberley region of Western Australia, and Manager for the Cornishman Project, a joint venture between Troy Resources Limited and Sons of Gwalia Limited. Mr Tyers also spent three years developing and operating iron ore projects in the mid-west of Western Australia. He was responsible for the development of the Las Lagunas Project and is Project Director for the La Demajagua gold mine in Cuba.

Mr Cario has over 30 years’ of experience in the Australian mining industry. He was a Director and Chief Executive Officer of Rocklands Richfield Limited for four years, and Managing Director of Austral Coal Limited for eight years. Prior to Austral Coal, Mr Cario held a number of senior positions with the Conzinc Rio Tinto Australia Group. He is also a former Director of the Port Kembla Coal Terminal, the New South Wales Joint Coal Board, and Interim Chairman of the New South Wales Minerals Council in 2004.

Ms Pankhurst has over 20 years’ experience as an executive and non-executive director primarily in the mining industry. She has been a senior executive for companies with projects in Kazakhstan, Nigeria, Vietnam, South Africa and Australia, including CFO then Finance Director for Antilles Gold until March 2009. She was Managing Director of Central Asia Resources Limited during the development of its first gold mine and processing facility, and is currently a director of Consolidated Zinc Limited and a director of Imritec Limited.

Experienced Management

Dr Jinxing Ji

Technical Director

Steve Mertens 

General Manager, Cuba

Chris Grainger

Exploration Director

Michael Wokner

Construction Manager

Dr Ji highly knowledgeable metallurgist with 6 years of research experience in universities and 26 years of practical experience in the mining industry related to gold, silver, copper, zinc and lead. Broad worldwide experience includes due diligence, metallurgical testwork, prefeasibility study, feasibility study, detailed design, plant commissioning support and operational support/optimization for projects/mines in Turkey, Greece, Canada, China, Romania, Brazil, and Papua New Guinea, etc. In-depth knowledge and experience for every gold process either for free-milling ores or single- and double-refractory ores, including bulk flotation, selective sequential flotation, heap leach, CIC, tank cyanide leach, CIL, CIP, pressure oxidation, roasting, biological oxidation, Albion, and application of ion-exchange resin for gold extraction.

Mr Mertens is a mining engineer with 20 years’ industry experience across a range of commodities, including 9 years based in Latin America. He has experience developing large mining projects and worked as a Construction Manager at the Goro Nickel Project in New Caledonia and also the Mina de Cobre Project in Panama. Prior to his current role as General Manager for the Minera La Victoria JV in Cuba, Mr Mertens was the Mining Manager for Antilles Gold’s Las Lagunas operation in the Dominican Republic.

Dr Grainger is an Australian geologist with +25 years of international experience with involvement in grassroots and brownfields exploration, as well as resource definition and development, with a focus on precious and base-metals in South and Central America and the Caribbean. He holds a PhD Economic Geology (University of Western Australia).

Dr Grainger has been associated with significant discoveries and commercially successful transactions including:

Continental Gold, Buritica Au-Ag project discovery (Vice President Regional projects/New Business Manager), Cordoba Minerals Alacran Cu-Au discovery (Vice President Exploration)

Mr Wokner has been a project manager in the construction industry for 30 years with the last 18 years as an Australian expatriate across various regions including Australasia, Africa and the Americas, managing both mining and infrastructure projects. Mr Wokner has an enviable record in delivering these projects safely, on time and within budget. He is currently involved in an expansion of the Pueblo Viejo gold mine in the Dominican Republic. Michael has worked in both greenfield and brownfield projects, working directly for the client or as the engineering representative from feasibility through project execution.

He will join the Antilles Gold Group in August 2022.

Corporate Governance

Forward-Looking Statements

Some of the statements contained in this website are forward-looking statements, such as statements that describe Antilles Gold Limited’s (“AAU”) future plans, intentions, objectives or goals, and specifically include but are not limited to statements regarding AAU’s properties, resource estimates, potential mineralization, future financial or operating performance, gold and silver prices, estimated future production, future costs, timing of production start and economic analysis.

Actual results and developments may differ materially from those contemplated by such forward–looking statements depending on, among others, such key factors as the possibility that actual circumstances will differ from estimates and assumptions used in the potential of La Demajagua gold project, the environmental and social cost of proceeding with the project, uncertainty relating to the availability and costs of financing needed in the future, economic sanctions, general business and economic conditions, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of the project, and the impact of future legislation and regulations on expenses, capital expenditures and taxation, changes in project parameters, variation in ore grade or recovery rates, delays in obtaining government approvals and necessary permitting, impurities in products and other risks involved in the mineral exploration and development industry.

The forward-looking statements represent AAU’s current views and subsequent events and developments may cause AAU’s views to change. AAU disclaims any obligation to update forward-looking information except as required by law. Readers should not place undue reliance on any forward-looking statements.

DISCLAIMER

The Information contained in this website is provided on the terms and conditions set out in this notice. The purpose of this website is to provide Information relating to AAU, the La Demajagua Gold/Silver Project and potential of exploration areas in Cuba (“the Projects”).

This website has been prepared as a summary only and does not contain all information about AAU or the Projects. The information is subject to updating, completion, revision, further verification and amendment.

AAU makes no representation or warranty (express or implied) as to the accuracy, reliability or completeness of the Information. AAU and its respective affiliates, directors, employees, agents and consultants shall have no liability (including liability to any person by reason of negligence or negligent misstatement) for any statements, opinions, information or matters (express or implied) arising out of, contained in or derived from, or for any omissions from the website, except liability under statute that cannot be excluded.

The website contains reference to certain intentions, expectations and plans of AAU and the Projects. These intentions, expectations and plans may or may not be achieved. They are based on certain assumptions which may not be met or on which views may differ. The performance and operations of AAU and the Projects may be influenced by a number of factors, many of which are outside the control of AAU and the Projects. No representation or warranty, express or implied, is made by AAU or any of its respective affiliates, directors, officers, employees, agents, and consultants that any intentions, expectations or plans will be achieved either totally or partially or that any particular profitability or value will be achieved.

ANTILLES GOLD LIMITED
ASX CODE AAU
OTCQB:ANTMF
55 Kirkham Road
Bowral NSW 2576
Australia
+ 61 2 4861 1740
ANTILLES GOLD LIMITED
ASX CODE AAU
55 Kirkham Road
Bowral NSW 2576
Australia
+ 61 2 4861 1740