07 July 2025
ProActive Investors - Antipa targets major gold-copper growth at Minyari Dome after $40M raise
By Jonathan Jackson
Antipa Minerals Ltd (ASX: AZY) will bank $40 million to accelerate exploration and development at its 100%-owned Minyari Project in the Paterson Province, Western Australia. The share placement is priced at A$0.60 per share and the company will issue around 66.7 million new shares. The placement price reflects a 12.4% discount to both the company’s last closing price on July 2, 2025 and its five-day volume weighted average price.
Combined with existing cash reserves of approximately A$36 million, the A$40 million Placement will see Antipa emerge with a post-raise cash balance of around A$74 million (after costs). This strengthened financial position is expected to support the delivery of key value catalysts over the coming two years, while preserving balance sheet flexibility.
The funding will enable the company to progress the Minyari Dome Gold-Copper Development Project (Minyari Development) through to a Pre-Feasibility Study (PFS) by June 2026, followed by a Definitive Feasibility Study (DFS) ahead of a potential Final Investment Decision (FID) targeted for March 2027.
In the near term, the capital will facilitate immediate follow-up drilling as part of the ongoing Phase 1 calendar year 2025 (CY2025) Growth and Discovery Program. It also provides flexibility to expand exploration across additional high-priority targets within the wider Minyari Project area, maximising the potential for further resource growth.
The Placement was strongly supported by a mix of high-quality investors, including existing institutional backers, long-term sophisticated shareholders, and new global institutions — signalling widespread confidence in Antipa’s project pipeline and its broader development strategy.
In addition, the company’s directors have indicated their intention to subscribe for a further 208,334 new shares to raise A$125,000, on the same terms as the Placement. This component remains subject to shareholder approval at an upcoming general meeting.
Settlement is scheduled to occur on or around July 14, 2025, with the new shares expected to start trading from July 15, 2025.
“This successful equity raise provides the financial flexibility and certainty required to unlock the full value of the Minyari Development. Our current cash balance of approximately A$36 million will now be applied to completing the PFS by June next year and the ongoing Phase 1 Growth and Discovery Drill Program,” Antipa’s managing director, Roger Mason, said.
“The additional funds enable Phase 2 follow-up drilling and completion of the requisite technical work to deliver a DFS, while maintaining a working capital position that provides corporate optionality.
“Armed with a strong cash balance, aggressive drilling programs, and workstreams advancing towards delivery of a PFS — which is now planned and funded to be followed rapidly by a DFS — we are very well positioned to deliver further growth and move decisively towards development. We are grateful for the strong support from existing shareholders and pleased to welcome a number of high-quality new investors to the register.”
Accelerating exploration
The A$40 million capital injection significantly strengthens Antipa’s capacity to accelerate exploration at Minyari Dome. The 2024 Updated Scoping Study highlighted a compelling standalone development case, which the upcoming drill programs are designed to de-risk and enhance.
These programs will target extensions of known mineralised zones as well as high-priority untested areas within the Dome. The capital will also support feasibility study progression and other development activities, positioning Minyari Dome as a near-term production opportunity with substantial scale and optionality.
Funds will support aggressive drilling to expand the Mineral Resource at Minyari Dome and unlock additional regional targets across Antipa’s tenement holding, positioning the company for significant resource growth and development milestones.
Antipa drives gold-copper resource growth at Paterson Province’s Minyari Project
Antipa is advancing its exploration and development strategy at Minyari, where it holds more than 4,100 square kilometres of 100%-owned tenure. The region is home to major operations including Greatland Gold’s Telfer mine and the emerging Winu and Havieron discoveries.
The company has defined Mineral Resources totalling 2.5 million ounces of gold, 84,000 tonnes of copper, 666,000 ounces of silver and 13,000 tonnes of cobalt across its Minyari Project. Central to this is the flagship Minyari Dome Gold-Copper precinct, which hosts a 2.4 million ounce gold resource at 1.5 grams per tonne, plus copper, silver and cobalt (as of the 2025 Mineral Resource Estimate).
A 2024 Updated Scoping Study demonstrated the potential for a substantial standalone development at Minyari Dome, with further upside expected through ongoing drilling in 2025. Current exploration is focused on expanding the existing resource base while testing for additional high-value gold-copper discoveries.
Antipa plans to test multiple high-potential greenfield and brownfield targets across the broader Minyari Project area. With a strong land position, proven discovery record, and proximity to established infrastructure, the Company is positioned to unlock significant value through focused exploration and prudent project development.
Find Out More