Antipa Minerals Ltd (ASX: AZY) (Antipa or the Company) is pleased to announce a strongly supported institutional placement to raise A$40 million (before costs) (Placement), enabling the Company to expand and accelerate its resource growth and discovery programme alongside advanced project development activities at its 100%-owned 4,100km2 Minyari Gold-Copper Project (Minyari Project) in Western Australia's world-class Paterson Province.
Strategic A$40 million Placement Highlights
Combined with existing funds of approximately A$36 million1, the Placement will see the Company emerge with a cash balance of circa A$74 million (after Placement costs) which will support the delivery of key value catalysts while maintaining balance sheet strength. Funding to deliver a Pre-feasibility Study (PFS) by June 2026, followed by a Definitive Feasibilitye Study (DFS) for the Minyari Dome Gold-Copper Development Project (Minyari Development) ahead of a potential Final Investment Decision (FID) in March 2027. Enables immediate follow-up drilling from the ongoing Phase 1 CY2025 Growth and Discoveryy Programme, with flexibility to capitalise on success and test additional high-priority targets across the broader Minyari Project. Well-supported by high-quality investors, including existing institutional shareholders, long term sophisticated investors and high-quality new global institutional investors, reflecting confidence in Antipa's strategy and the broader potential of the Minyari Development.
Antipa's Managing Director, Roger Mason commented '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 Programme. 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 programmes, 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.'
Placement detail
Under the terms of the Placement, Antipa will issue approximately 66.7 million shares at a price of A$0.60 per share to raise A$40 million (before Placement costs). The issue price of A$0.60 represents a 12.4% discount to the last closing price on 2 July 2025 and also a 12.4% discount to the Company's five-day volume weighted average price. Under the Placement 66,458,333 new shares will to be issued pursuant to Antipa's placement capacity under Listing Rules 7.1 and 7.1A, to raise approximately A$39.9 million (before costs). Settlement is expected to occur on or around 14 July 2025, with trading on the ASX on a normal settlement basis on 15 July 2025. In addition, Directors intend to subscribe for 208,334 new shares to raise A$125,000 (on the same terms as the Placement), subject to shareholder approval at a general meeting of the Company's shareholders. Euroz Hartleys Limited and Canaccord Genuity (Australia) Limited acted as Joint Lead Managers to the Placement. Hannam and Partners Limited and Shaw and Partners Limited acted as co-managers to the Placement.
Contact:
Mark Rodda
Executive Chairperson
Antipa Minerals Ltd
Tel: +61 (0)8 9481 1103
Roger Mason
Managing Director and CEO
Antipa Minerals Ltd
Tel: +61 (0)8 9481 1103
Fivemark Partners
Tel: +61 (0)422 602 720
This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws.
About Antipa Minerals Ltd
Antipa Minerals Ltd (ASX: AZY) (Antipa or the Company) is a leading mineral exploration company with a proven track record of discovering world-class gold-copper deposits in the highly prospective Paterson Province of Western Australia. The Company remains focused on advancing its exploration and development programmes to unlock the full potential of this richly endowed region, which offers substantial opportunities for profitable mining operations. Antipa's tenement holding, known as the Minyari Project, covers over 4,100km-2 and host total 100%-owned Mineral Resources of 2.5 million ounces (Moz) of gold, 84,000 tonnes (t) of copper, 666 thousand ounces (koz) of silver and 13,000 tonnes of cobalt, situated in a region home to Greatland Resources' Telfer mine and 22Mtpa processing facility, as well as recent large gold-copper discoveries including Rio Tinto-Sumitomo's Winu and Greatland's Havieron.3 Antipa's exploration success at Minyari includes the discovery of several significant mineral deposits at its flagship Minyari Dome Gold-Copper precinct. Minyari Dome currently hosts a 2.4Moz gold Mineral Resource at 1.5 grams per tonne (g/t) plus copper, silver, and cobalt (2025 MRE). A 2024 Updated Scoping Study for Minyari Dome indicated the potential for a substantial standalone development opportunity with further upside potential. This year's Minyari Dome drilling programmes are aimed at further rapid and substantial growth of the existing gold copper resources at Minyari Dome and have been designed to enhance the value of the current development opportunity while also targeting new significant gold-copper discoveries. At a regional level, Minyari provides access to further tier one gold-copper discovery opportunities. Significant discovery and resource growth drill programmes are envisaged to test a host of exciting high-potential gold +/- copper prospects and greenfield targets primed for follow-up or initial drill testing. Antipa is well-positioned to continue its resource growth and project development trajectory targeting significant value creation for its shareholders through focused exploration and sensible development in one of the world's most promising gold-copper regions.
Forward-Looking Statements: This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Antipa Mineral Ltd's planned exploration programme and other statements that are not historical facts. When used in this document, words such as 'could,' 'plan,' 'estimate,' 'expect,' 'intend,' 'may,' 'potential,' 'should,' and similar expressions are forward-looking statements. Although Antipa Minerals Ltd believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties, and no assurance can be given that actual results will be consistent with these forward-looking statements.
Competent Persons Statement - Mineral Resource Estimations for the Minyari Project Deposits: The information in this document that relates to the estimation and reporting of the GEO-01 Main Zone, Fiama, Minella, GEO-01 Central, Minyari South, Tim's Dome and Chicken Ranch Mineral Resource is extracted from the report entitled 'Minyari Project Resource Grows by 100 Koz to 2.5 Moz of Gold' created on 21 May 2025 with Competent Person Victoria Lawns, which is available to view on www.antipaminerals.com.au and www.asx.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the relevant original market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements. The information in this document that relates to the estimation and reporting of the Minyari, Minyari North, Sundown, WACA and WACA West deposits Mineral Resources is extracted from the report entitled '100% Owned Minyari Dome Project Grows by 573,000 Oz of Gold' created on 17 September 2024 with Competent Persons Ian Glacken, Jane Levett, Susan Havlin and Victoria Lawns, whichis available to view on www.antipaminerals.com.au and www.asx.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the relevant original market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements.
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