Antipa Minerals Raises A$40M, Boosting Cash to A$74M for Feasibility Studies

• A$40 million institutional placement at A$0.60 per share
• Combined cash reserves of approximately A$74 million post-placement
• Funding secured for Pre-feasibility Study by June 2026 and Definitive Feasibility Study targeting March 2027
• Ongoing and follow-up drilling programs to expand Minyari resource base
• Strong support from existing and new institutional investors

Strategic Capital Raise Bolsters Development Ambitions

Antipa Minerals Ltd (ASX, AZY) has successfully completed a A$40 million institutional placement, issuing approximately 66.7 million shares at a price of A$0.60 each. This capital injection, combined with the company's existing cash reserves of around A$36 million, will provide a robust war chest of approximately A$74 million to advance the Minyari Gold-Copper Project in Western Australia's Paterson Province.

The placement price represented a 12.4% discount to the recent trading price, a common feature in such capital raises to incentivize institutional participation. The strong demand from a mix of existing shareholders and new global institutional investors underscores confidence in Antipa’s strategic direction and the potential of the Minyari Project.

Clear Path to Development Milestones

With this funding, Antipa is set to complete a Pre-feasibility Study (PFS) by June 2026, followed by a Definitive Feasibility Study (DFS) aimed at supporting a Final Investment Decision (FID) targeted for March 2027. These studies are critical steps in de-risking the project and moving it closer to potential production.

Managing Director Roger Mason highlighted that the company’s strong cash position will enable aggressive drilling programs to expand and discover additional resources within the 4,100 square kilometre Minyari Project tenure. The ongoing Phase 1 Growth and Discovery Programme will be complemented by immediate follow-up drilling, providing flexibility to capitalise on exploration success.

Minyari Project, A Growing Gold-Copper Opportunity

The Minyari Dome currently hosts a substantial mineral resource of 2.4 million ounces of gold, alongside significant copper, silver, and cobalt credits. The project sits in a prolific mining region near established operations such as Greatland Resources’ Telfer mine and recent discoveries by Rio Tinto and Greatland, positioning Antipa well within a world-class mineral province.

Recent resource updates and a 2024 Scoping Study have indicated the potential for a standalone development opportunity with considerable upside. The new capital will support further resource growth drilling and technical work, including securing long lead-time items necessary for project advancement.

Investor Confidence and Market Implications

The placement was managed by Euroz Hartleys and Canaccord Genuity as joint lead managers, with co-managers Hannam and Partners and Shaw and Partners. The participation of high-quality institutional investors reflects a positive market view on Antipa’s prospects and the broader gold-copper sector dynamics.

While the dilution effect from the placement is a consideration for existing shareholders, the enhanced financial flexibility and clear development roadmap may well offset concerns, especially if exploration and feasibility milestones are met on schedule.

Bottom Line?

Antipa’s fresh capital injection sets the stage for a pivotal year of exploration and development at Minyari, with market eyes keenly watching upcoming feasibility results and drilling outcomes.

Questions in the middle?

• How will the market respond to the dilution from the placement in the short term?
• What are the key risks that could delay the Final Investment Decision targeted for March 2027?
• Can Antipa’s drilling programs deliver the resource growth needed to justify accelerated development?