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Antioquia Gold (OTC: AGDXF)

Antioquia Gold (OTC: AGDXF) owns the small Cisneros underground gold mine near Medellín. It left the TSX Venture Exchange in 2023, is about 91% owned by a Peruvian investor, and in 2026 its auditor resigned and it had to restate two years of financial statements.

Tickers: OTC: AGDXF | formerly TSXV: AGD (delisted Dec 1, 2023) · Headquarters: Calgary, Alberta, Canada (news release dateline) · Data as of: Nov 4, 2026

Antioquia Gold at a glance

ProjectDepartmentCommodityStageOwnership
Cisneros (Guaico and Guayabito mines)Antioquiagold (minor silver, copper, molybdenum)producing (current output not disclosed)100% through subsidiary Antioquia Gold Ltd.
ListingOTC: AGDXF; delisted from TSXV Dec 1, 2023; unlisted reporting issuer
Share price / market capQuoted at US$0.000001 (OTC, July 24, 2026, per StockAnalysis), implying a market cap of about US$1,000; no meaningful trading. Refresh at publication
Shares outstandingAbout 1.09 billion (StockAnalysis); CMH holds 989,281,437 (about 91.15%)
Major shareholderConsorcio Minero Horizonte S.R.L. (Peru), about 91.15% since Dec 30, 2025
AuditorKPMG Peru (Emmerich, Córdova y Asociados), appointed July 15, 2026, after BDO Canada resigned April 9, 2026
Financial statements2022 and 2023 statements and MD&A to be restated; 2024 and 2025 audits outstanding. Filing date not estimated by the company
Last reported quarter (Q3 2023)8,502 oz gold produced; AISC US$2,133/oz sold; working capital deficit C$133.1M at Sept 30, 2023
ResourcesM&I 748 kt at 4.74 g/t Au (114,000 oz) + Inferred 728 kt at 4.94 g/t (116,000 oz); NI 43-101, effective Oct 1, 2022

About Antioquia Gold

Antioquia Gold’s only asset is the Cisneros project in the municipality of Santo Domingo, Antioquia, about 70 km from Medellín. It has two underground mines, Guaico and Guayabito, and a central process plant that produces gravity and flotation concentrates, which are sold through trading houses. First gold was produced in March 2019.

The company voluntarily delisted from the TSX Venture Exchange at the close on December 1, 2023, because it no longer met the exchange’s public-distribution requirements. It remains an unlisted reporting issuer in Canada, and its shares trade thinly over the counter as AGDXF. Investors searching for ‘TSXV: AGD’ should note that this listing no longer exists.

Control is concentrated. On December 30, 2025, Peruvian investment company Consorcio Minero Horizonte S.R.L. (CMH) took over 989,281,437 shares, about 91.15%, by absorbing long-time lender and controlling shareholder Infinita Prosperidad Minera S.A.C. in a merger. Stated consideration was C$3.78 million.

2026 has been a governance and disclosure year. BDO Canada resigned as auditor in April, citing a loss of confidence in management. The company then said its 2022 and 2023 financial statements cannot be relied upon and must be restated, and KPMG Peru was appointed as auditor in July. No 2024 or 2025 audited results had been published in the sources reviewed.

Antioquia Gold’s Colombian projects

Cisneros (Guaico and Guayabito mines)

Cisneros sits on the Antioquia Batholith, a large body of granite-like rock northeast of Medellín. Gold occurs in sulphide-rich quartz veins and breccias in a structurally controlled ‘mesothermal’ system, meaning veins formed at moderate depth along faults. The company described about 17,000 hectares of consolidated mineral rights in 2023.

Construction began in October 2015 after the Guaico environmental licence was granted, and first gold came in March 2019. By 2023 the plant had been expanded to 1,200 tonnes per day, with a tailings deposit and a 10 km pipeline. Production was 8,502 oz in Q3 2023, down 24% year on year, at an AISC of US$2,133 per ounce sold.

Operations have been interrupted by environmental authorities. In March 2023 the regional authority stopped the process plant, and operations resumed later that month. On July 27, 2023, CORNARE ordered Guayabito closed until water-treatment capacity was expanded, while Guaico kept producing. The sources reviewed do not report Cisneros production or operating status for 2024–2026.

Resources: Measured 291 kt at 4.34 g/t Au (41,000 oz); Indicated 457 kt at 5.00 g/t (73,000 oz); M&I 748 kt at 4.74 g/t (114,000 oz); Inferred 728 kt at 4.94 g/t (116,000 oz). Includes Nus Shear, Guaico and Guayabito. NI 43-101 (CIM 2014), effective Oct 1, 2022; US$1,800/oz gold; QP David G. Thomas, P.Geo. (MTS). No current mineral reserve disclosed. Mining since 2022 means this estimate is likely out of date.

Latest Antioquia Gold news

Upcoming catalysts

  • Filing of restated 2022–2023 financial statements and the overdue 2024–2025 audited statements (no timetable given)
  • Results of the independent review of internal controls and governance commissioned by the audit committee
  • Any regulatory action over the auditor issues (flagged as a risk by the company; none reported in sources reviewed)
  • Strategic direction under new controlling shareholder CMH, including any take-private or recapitalization
  • An updated NI 43-101 resource or reserve for Cisneros

Management

  • Diego Heilbrunn Navarro Grau, President and Chief Executive Officer. CEO since May 1, 2025 per Simply Wall St; director since Dec 2024
  • Gustavo J. Noriega Bentin, Chief Financial Officer. Appointed effective March 1, 2025

Key risks for Antioquia Gold stock

  • Financial reporting: the former auditor cited a loss of confidence in management, and 2022–2023 statements are unreliable pending restatement.
  • No exchange listing and minimal float: about 91% is held by one shareholder, and OTC trading is negligible.
  • Possible regulatory investigation or enforcement, which the company itself lists as a risk.
  • Environmental compliance: regional authorities halted the plant (March 2023) and the Guayabito mine (July 2023).
  • Small, ageing resource (2022 estimate) and no published mine plan or reserve.
  • Historic balance-sheet stress: a C$133 million working-capital deficit at Sept 30, 2023 and 2023 debt restructuring.

Sources

Related: Colombian stocks · Companies & Projects tracker · Colombian mining companies

Educational information only, not investment advice. Figures are from the sources listed and dated; check the company’s latest filings before relying on them. See our Disclosure & Editorial Policy.