Australia's Antilles Gold at near 5-year low as arbitration decision weighs

NVRO Metals

30/04/2024 03:17

** Shares of Antilles Gold  AAU.AX  fall as much as 16.7% to
A$0.015, their lowest level since June 2019
    ** AAU marks its worst intraday pct drop since Nov 27
    ** Stock on track to post its fourth consecutive session of
losses, if trend holds
    ** More than 5.7 mln shares change hands, vs the 30-day
average of 1.8 mln shares
    ** Says unit EnviroGold (Las Lagunas) Ltd received
arbitration award from by the Tribunal of the International
Centre for Settlement of Investment Disputes (ICSID)
    ** Arbitration against Government of the Dominican Republic
relating to Las Lagunas Gold Tailings Project
    ** Says unit awarded $4.1 mln, and adds that result is
disappointing as tribunal rejected unit's principal claim of
$15.5 mln for additional costs, among others
    ** Arbitration award expected to be received in the
near-term
    ** AAU stock down 21.7% this year, as of last close

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))