Antipa Minerals

Financials:

Primary ticker: ASX:AZY
Stage of development: Exploration, Development
Primary minerals: Gold, Copper, Cobalt, Silver
Project to promote: Significant Exploration and Development Opportunities
Project location: Paterson Province, Western Australia
Website: www.antipaminerals.com.au

Antipa Minerals (ASX:AZY) is an Australian listed mineral exploration and development company focused on the Paterson Province of Western Australia. Our commanding 5,100km2 land position is situated within a premium, historically underexplored gold-copper-silver-cobalt province. The region hosts several world-class mineral deposits including the Telfer gold-copper-silver mine, the Winu copper deposit and the Havieron gold discovery. Our Flagship 100%-owned Minyari Dome Project is now a critical mass resource with sizeable stand-alone project potential. Antipa also has three complementary growth projects with majors Rio Tinto, Newcrest and IGO, who are currently funding exploration activities on those projects.


Cash: AUD$14M
Debt: NIL

 

Major shareholders:
Newcrest – 9.9%
Institutions and Funds – 9.6%

IGO – 3.6%
Board and Management – 3.8%

Management Profile

Roger Mason – Managing Director, BSc (Hons), MAusIMM

Roger is a geologist with over 35 years resources industry experience involving exploration, project, mining and business development roles covering a range of commodities gained in Australia and overseas including Africa and North America. Roger’s career highlights include the discovery of the Calibre, Victor South and Corker deposits, and working on the gold deposits of Kalgoorlie’s Golden Mile, nickel sulphide deposits of Kambalda, iron oxide copper-gold deposits in Queensland and his current role as Managing Director of Antipa Minerals.

 

Mark Rodda – Executive Director – Commercial and Legal, BA, LLB
Mark has been a lawyer and corporate consultant for over 25 years and has considerable practical experience in the management of local and international mergers and acquisitions, divestments, exploration and project joint ventures, strategic alliances, corporate and project financing transactions and corporate restructuring initiatives. Mark held the position of General Counsel and Corporate Secretary for LionOre Mining International Ltd, a company with operations in Australia and Africa and listings on the TSX, LSE and ASX, which was acquired by Norilsk Nickel for in excess of US$6.3 billion.

What is your rationale for taking part in 121 Mining Investment?

Antipa Minerals attends 121 Mining Investment events to update existing and potential investors on recent developments relating to the Company and the unique investment opportunity that it presents.

What recent news would you like to highlight to investors attending?

May 2022

 

Updated Minyori-WACA Mineral Resource (100% Antipa) increased by 250%: 

– 1.8 million ounces of gold, 64,300 tonnes of copper, 584,000 ounces of silver and

11,100 tonnes of cobalt at 1.6 g/t gold and 0.19% copper 

– Indicated Resource 1.0 million ounces of gold, 41,100 tonnes of copper, 387,000 ounces of silver and 7,700 tonnes of cobalt at 1.4 g/t gold and 0.19% copper 

– 2.3 million gold equivalent ounces from 33.9 million tonnes at 2.14 g/t gold equivalent

– Discovery cost $7.20 per gold equivalent1 resource ounce – extremely low

 

August 2022

 

Key outcomes of the Scoping Study completed on its 100%-owned Minyari Dome Gold Project: 

– Initial combined open pit and underground mine schedule of 21.4 Mt at 1.6 g/t Au (1.1 Moz. gold).

– 7  years initial processing life at nameplate 3 Mtpa throughput. 

– Simple, non-refractory metallurgy allows standard CIL process plant with 90% gold recovery. 

– Total initial gold output of 975 koz, with an average of 170 koz p.a. for the first five years.

– Forecast average All-In-Sustaining-Cost (AISC) of A$1,475/oz (US$1,062/oz). 

– Total pre-production capital cost of A$275M (includes pre-production mining of A$68M).

– Pre-tax NPV7 of A$392M and 34% IRR (at US$1,750/oz gold and 0.72 A$/US$).

– Post-tax NPV7 of A$278M and 29% IRR (at US$1,750/oz gold and 0.72 AS/US$). 

– Post-tax payback of approx. 2.5 years from first production. 

– Latent potential to boost economics with resource upside and by-product opportunities

What are your key goals in 3 months, 6 months, 12 months?

3 Months:

Undertaking aggressive growth drilling programme at Minyari Dome Project which will run through to mid-2023.

 

Pre-Feasibility Study work streams kicks off

 

6 Months:
Continuation of aggressive growth drilling programme at Minyari Dome Project and Pre-Feasibility Study works

 

12 Months:
Updated Minyari Dome Project resource expected Q3 CY2023 and to be incorporated into Pre-Feasibility Study targeted for release in Q4 CY2023

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

The Company has endeavored to mitigate risks associated with mineral exploration by farming out a large portion of its extensive landholding to majors, maintaining excellent and mutually beneficial relations with all stakeholders, including relevant native title holders and implementing COVID-19 procedures and processes.

What do you think makes your company such a compelling investment?

5,100km2 of highly prospective gold and copper and copper ground

 

Board and Management (190 years combined industry experience) have a proven track record of value creation

 

2.7 Moz Gold only attributable Mineral Resource

 

Aggressive growth drilling programme at its 100%-owned Minyari Dome Project

 

High quality strategic partners with continuing exploration programmes

What are the top 3 key investor takeaways?

Outstanding location

 

– Paterson region has been historically underexplored

– Prospective frontier for the discovery of multi-cycle, tier-one gold-copper deposits 

– In the last 6 years >16Moz of gold and >3Mt of copper discovered 

– Western Australia is a low-risk, mining-friendly jurisdiction 

 

Resource Defined with Future Expansion Potential

 

– Now hosting a 2.7 Moz gold only attributable JORC Resource 

– Scoping Study outcomes demonstrate technical and commercial viability for a stand-alone development at the 100% owned Minyari Dome Project

– Additional, significant exploration across the portfolio throughout CY22

– Current and future value pathways for shareholders

 

High Quality Strategic Partners with Continuing Exploration Programmes

 

– Strategic JV and farm-in agreements with Rio Tinto, Newcrest and IGO

– Combined historical partner contribution of  A$50M of exploration spend

– Cumulative potential free-carry exploration spend of up to A$115M

– Strong major discovery objectives and actions