Antipa Minerals
Primary ticker: ASX:AZY
Stage of development: Exploration, Development
Primary minerals: Gold and Copper
Project to promote: Minyari Dome Project (100% AZY), Citadel Joint Venture Project with Rio Tinto, Wilki Farmin Project with Newmont and Paterson Farmin Project with IGO Limited
Project location: Paterson Province, Western Australia
Website: www.antipaminerals.com.au
Antipa Minerals Ltd (ASX: AZY) (Antipa or the Company) is a leading mineral exploration company with a strong track record of success in discovering world-class gold-copper deposits in the highly prospective Paterson Province of Western Australia. The Company’s exploration and advancement programme is focused on identifying and unlocking the full potential of the region, which offers significant opportunities for profitable mining operations.
The Company’s granted tenement holding covers over 5,100 square kilometres in a region that is home to Newmont’s world-class Telfer mine and some of the world’s more recent large gold-copper discoveries including Rio Tinto’s Winu and Newmont-Greatland Gold’s Havieron.
Exploration success has led to the discovery of several major mineral deposits on Antipa’s ground, including the wholly owned, flagship 900km2 Minyari Dome Gold-Copper Project. Minyari Dome currently hosts a 1.8 Moz gold resource (at 1.6 g/t) which was the subject of a Scoping Study (August 2022) indicating the potential for a sizeable initial development with further substantial upside.
Antipa is pursuing an aggressive drilling programme this year, targeting substantial and rapid growth to the existing gold-copper resources at Minyari Dome, delivering strong further value enhancement to the existing development opportunity, and making new significant gold-copper discoveries.
The 900km2 Minyari Dome Project is complemented by three large-scale growth projects covering a total of 4,200km square kilometres which have attracted major listed miners to agree multi-million-dollar farm-in and joint venture (JV) arrangements:
• Citadel Project (33% Antipa): Rio Tinto JV over 1,200 square kilometres
• Wilki Project (100% Antipa): Newmont farming-in 1,470 square kilometres
• Paterson Project (100% Antipa): IGO farming-in 1,550 square kilometres
Cash: AUD$6.2M (31 December 2023)
Debt: NIL
Major shareholders:
Institutions and Funds – 18%
Newmont – 8.6%
IGO Limited – 3.6%
Hawksburn Capital – 2%
Board and Management 3.4%
Financials
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, corporate consultant and director of various public companies for approximately 30 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 Minyari-WACA Mineral Resource (100% Antipa) increased by 250% to 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
August 2022 – Minyari Dome Scoping Study outcomes released confirming the robust potential for a stand-alone gold mining and processing operation (based on the May 2022 MRE update)
March 2023 – Antipa regains sole rights to, and operational control of, several high priority targets formerly part of Wilki Farm-in with Newcrest.
March 2023 – Significant high-grade gold (+copper+silver+cobalt) drill results reported at multiple Minyari Dome deposits and delivers two new discoveries at Minyari North and at the GEO-01 target within the 100% owned Minyari Dome Project
October 2023 – Notable GEO-01 target intersections released including 11m at 1.6 g/t gold from 24m down hole in 23MYC0383, 50m at 2.3 g/t gold from 72m down hole in 23MYC0383, 28m at 2.8 g/t gold from 133m down hole and 48m at 1.7 g/t gold from 132m down hole to end-of-hole in 23MYC0384. Peak gold grade of 1m at 19.95 g/t gold from 137m down hole in 23MYC0384.
April 2024 – Commencement of CY2024 drilling programme at the 100% owned Minyari Dome Project including Mineral Resource growth drilling at GEO-01 and drilling of Antipa’s compelling ‘Pacman’ greenfield exploration targets
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Undertaking Phase 1 CY2024 Mineral Resource growth drilling programme at the Company’s 100% owned Minyari Dome Project, together with additional drilling of its compelling ‘Pacman’ greenfield exploration targets. Commencement of exploration activities on partnered projects
6 Months:
Updated Minyari Dome Project Mineral Resource expected and potential recommencement of Minyari Dome Project PFS. Potential Phase 2 drilling programme at the Company’s 100% owned Minyari Dome Project. Continuation of exploration activities on partnered projects
12 Months:
Further exploration success and completion of Minyari Dome Project PFS
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.
What do you think makes your company such a compelling investment?
5,100 square kilometres of highly prospective gold and copper ground
Board and Management (190+ years combined industry experience) have a proven track record of value creation
2.6 Moz Gold only attributable Mineral Resource
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 7 years >18Moz of gold and >4Mt of copper discovered
– Western Australia is a low-risk, mining-friendly jurisdiction
Resource Defined with Future Expansion Potential
– Now hosting a 2.6 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 CY2024
– Current and future value pathways for shareholders
High Quality Strategic Partners with Continuing Exploration Programmes
– Strategic JV and farm-in agreements with Rio Tinto, Newmont and IGO
– Combined historical partner contribution of A$56M of exploration spend
– Cumulative potential free-carry exploration spend of up to A$115M
– Strong major discovery objectives and actions”