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.