Antipa Minerals (ASX:AZY) will cash in $40 million through a placement to accelerate exploration and development at its 100%-owned Minyari Project in Western Australia.
Antipa Minerals plans to allocate proceeds from the Placement — together with its existing A$36 million cash reserves to support the completion of Phase 1 growth and discovery drilling, as well as the upcoming Pre-Feasibility Study — paving the way towards a Definitive Feasibility Study and a Final Investment Decision.
The funding allows Antipa to secure long lead-time items early for the Minyari Development — while also supporting general working capital requirements.
“Armed with a strong cash balance, aggressive drilling programmes, and workstreams advancing towards delivery of a PFS – we are very well positioned to deliver further growth and move decisively towards development,” Antipa’s managing director, Roger Mason said.
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