Antipa Minerals (ASX:AZY) is raising $40 million to advance the Minyari Gold-Copper Project in Western Australia towards a Prefeasibility Study (PFS) in its greater resource growth and discovery program.
Euroz Hartleys and Canaccord Genuity are acting as joint lead managers for this placement, with Hannam and Partners, as well as Shaw and Partners acting as co-managers.
Directors have indicated they will subscribe for 208,334 shares to raise another $125,000 towards the placement.
Upon completion, Antipa will have accumulated a cash balance of around $74 million, strengthening the company’s resource growth and discovery program of the project.
The company will issue 66.7 million shares at $0.6 per share in the placement, representing a 12.4% discount to the last closing price and the five-day volume weighted average price (VWAP).
Antipa intends progressing its CY2025 Growth and Development Program, with targets identified in current phase one operations to be followed-up with drilling immediately with the funds.
The company will then streamline a PFS by June 2026, to be followed up with a Definitive Feasibility Study before potentially reaching a final investment decision in March 2027.
Managing Director Roger Mason says that this financing will allow Antipa to unlock the full potential of the Minyari Development.
“Armed with a strong cash balance, aggressive drilling programs, and workstreams advancing towards delivery of a Prefeasibility Study – which is now planned and funded to be followed rapidly by a Definitive Feasibility Study – we are very well positioned to deliver further growth and move decisively towards development,” Mason says.
Antipa Minerals is an exploration company focused on discovering gold-copper deposits within the Paterson Province of Western Australia.
Antipa Minerals will be attending the Noosa Mining Investor Conference, held between 23-25 July, at the Peppers Noosa Resort. Mining.com.au is an official media partner of this year’s conference.
Write to Maddison Elliott at Mining.com.au
Images: Antipa Minerals
