Antipa Minerals (ASX: AZY) has been admitted to the ASX after a successful IPO offering 40 million shares at $0.20 to raise $8 million.
Antipa will begin trading today at 1:00pm EST, Wednesday 20 April 2011, with 50.2 million shares outstanding.
The new inflow of funds will help Antipa target gold, copper, uranium and tungsten at the Citadel Project, which covers an area of 1,700 square kilometres.
The Magnum Deposit within the project contains high grade gold copper mineralisation discovered by limited wide space drilling, providing an opportunity to estimate a maiden mineral resource.
Most importantly, mining giant Newcrest Mining’s (ASX: NCM) Telfer Gold Copper Mine, Australia’s third largest gold producer behind the Kalgoorlie Super Pit and Boddington Gold Mine, operates within 150 kilometres of Citadel.
Citadel is located in the Paterson Province 400 kilometres east of Port Hedland and 1,300 kilometres north-northeast of Perth.