20 June 2024
MiningNews - Lion backs Antipa raising
Well known mining investment company Lion Selection is contributing A$2 million to a $5.75 million equity raising being undertaken by explorer Antipa Minerals.
The fundraising is being priced at 1c per new share.
In addition, Antipa's driller at its Minyari Dome project in northern Western Australia, Topdrill, will take $1 million worth of shares at the same pricing as payment for drilling.
Antipa said the funding would go toward resource growth, discovery-focused exploration and development appraisal activities at Minyari Dome.
This would include an update to an August 2022 scoping study expected to be completed in August this year.
Minyari Dome currently has resources of 1.8 million ounces of gold, 64,300 tonnes of copper, 584,000oz of silver and 11,100t of cobalt at 1.6 grams per tonne gold and 0.19% copper.
The company is particularly encouraged by the GEO-01 prospect.
The Roger Mason-led Antipa had cash at the end of the March quarter of $5.4 million.
Shareholders of the company include Newcrest/Newmont and IGO.
Minyari Dome is north of the large Telfer operation that Newmont acquired when it bought Newcrest.
The asset is currently for sale.
Shares in Antipa were trading at 1.2c this week, capitalising the company at $50 million.
by Michael Quinn