14 October 2022
Antipa Minerals completes $2.04 million share purchase plan; Newcrest to subscribe for $200,000
Antipa Minerals Ltd (ASX:AZY) has raised more than $2 million via a share purchase plan, following on from a $9 million placement last month to accelerate exploration and appraisal activities at the flagship Minyari Dome Gold Project in WA.
Read: Antipa Minerals bolsters funds for Minyari Dome drilling with $9 million placement; upcoming $3 million SPP The company is set to receive renewed support from resources giant Newcrest Mining Limited, which will subscribe for $200,000 worth of AZY shares to maintain its 9.9% stake in the company. It comes just weeks after Newcrest invested $1 million on top of the $9 million placement to retain its interest. Proceeds to fund project development Between the placement in September and the share purchase plan, Antipa has raised over $12 million.
The company intends to advance Minyari Dome with aggressive resource expansion drilling and a pre-feasibility study, following up on a recently completed scoping study that confirmed Minyari's technical and economic viability.
"Given the latent further value capable of being added via the drill bit, we remain committed to continuing a substantial exploration program across our 144 square kilometres of tenure at Minyari Dome," Antipa Minerals managing director Roger Mason said in an announcement last month.
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