Managing Director Roger Mason says Antipa Minerals (ASX:AZY) will be fully cashed up through to a final investment decision for the Minyari Dome Project in Western Australia, after its $40 million capital raise.
“This raise lays the longer term funding pathway all the way through to a FID on the Minyari Gold-Copper development,” Mason tells Mining.com.au.
Earlier this week, the company unveiled its plans to conduct a placement, with Euroz Hartleys and Canaccord Genuity acting as joint lead managers to the placement, while Hannam and Partners and Shaw and Partners acting as co-managers.
The capital raise has been well-supported by a range of investors, including established institutional shareholders, long-term sophisticated investors, and new global institutional investors.
“With this breadth of support reflecting confidence in Antipa’s strategy and the broader potential of the Minyari development,” Mason tells this news service.
Mason adds that the funding will deliver the ability to complete the current phase one growth and discovery program, the Prefeasibility Study (PFS) already in progress, and then a follow-on Definitive Feasibility Study.
Minyari’s PFS is on track for delivery by June 2026.
“All of this targeted to have us to a potential FID on Minyari by as early as March 2027,” he says.
The funds will also provide “firepower” for further discovery and resource growth-focused drilling at Minyari, as well as the flexibility to begin securing long-lead items, Mason adds.
Antipa, which has a market capitalisation of $341.93 million, believes that the Minyari Project is among one of the “leading” gold development assets in the country held in non-producer hands.
Mason highlights the project’s resource base is sizeable – containing 2.5 million ounces of gold, 84,000 tonnes of copper, 660,000 ounces of silver, and 13,000 tonnes of cobalt. And he says the grade is strong and the deposition environment amenable to low-risk, conventional mining.
“The project has been demonstrated to be technically and economically robust, presenting an attractive stand-alone development,” he tells this news service.
“It is also strategically located in a world-class gold-copper district, which offers sizeable surrounding, and possibly complementary, existing processing infrastructure.
“In my experience, this combination represents all the key ingredients for long-term success in the gold exploration, development, and production space.”
The Minyari Project, covering 4,100km2, features the Minyari Dome geological structure which hosts multiple delineated deposits. The project is located 35km north of the Telfer gold-copper-silver mine and 22 million tonnes per year processing facility.
Antipa Minerals is an Australian mineral explorer and developer focused on becoming a commercial mining operation through its assets in the Paterson Province of Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Antipa Minerals
