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MiningNews - Big year past and big year ahead sees Antipa raising big
03 July 2025

MiningNews - Big year past and big year ahead sees Antipa raising big

By Michael Quinn

Explorer Antipa Minerals is raising A$30 million in new equity as it works to assess whether its Minyari Dome gold project near Telfer in Western Australia is a valid development opportunity.

The $30 million is being priced at 60c per new share.

Antipa shares were at 68c when the stock went into a trading halt ahead of the current raising.

The funding boost will take Antipa's cash position to about $66 million.

Minyari has a current resource of 53 million tonnes grading 1.48 grams per tonne gold and 0.18% copper (plus minor silver and cobalt) for 2.5 million ounces of gold and 84,000t of copper.

Indicated resources within that estimate total 32.4Mt at 1.6gpt gold and 0.2% copper for 1.7Moz of gold and 64,000t of copper.

The Roger Mason-led Antipa wants to use the new funding to complete pre-feasibility and definitive feasibility studies.

A scoping study last year outlined a $306 million development producing an average of 130,000oz of gold per annum at all-in sustaining costs of $1721/oz.

Minyari is 35km from Greatland Gold's huge-capacity Telfer processing operation.

Antipa has a market capitalisation of about $400 million.

On a headline basis, the stock has gained circa 600% over the past year.

It raised $16 million late last year at 25c per share — with that pricing being a post-consolidation price — and before that $5.75 million in June 2024 at 10c per share.

A tie-up between Minyari and Telfer would be a logical development, though getting the management teams of two companies to agree on pricing is the biggest hurdle.

Mason, exec chair Mark Rodda and non-exec Stephen Power appear to hold sizeable equity positions in Antipa, with the other two non-execs, Peter Buck and Gary Johnson, also being shareholders.

All five have been on Antipa's payroll since the company listed in April 2011 following a $10 million IPO.

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