Newmont exercises Antipa top-up right
Newcrest Operations, a subsidiary of global gold major Newmont, has exercised its top-up right to maintain an 8.6% shareholding in Western Australia-focused exploration company Antipa Minerals.
Newmont’s participation will see Antipa issue an additional 54.15-million fully paid ordinary shares at A$0.01 a share to raise a further A$540 000. This will result in the funds raised under the placement and top-up placement totalling A$6.25-million.
“Their [Newmont’s] participation represents a strong endorsement of our Paterson province portfolio and exploration strategy, including our rapidly emerging 100%-owned Minyari Dome gold project,” said Antipa MD Roger Mason.
“With continued support from the world’s largest gold mining company, we are excited for Phase 2 drilling to begin and look forward to exploring the potential at GEO-01 and more broadly within the Minyari Dome.”
The key programme objective is an increase to the overall size of the Minyari Dome mineral resource, which currently stands at 1.8-million ounces of gold, 64 300 t of copper, 584 000 oz of silver and 11 100 t of cobalt at 1.6 g/t gold and 0.19% copper.
Expansion to the mineral resource is expected to deliver strong value enhancement to the existing Minyari Dome development opportunity. The company plans to update the 2022 scoping study in August.
Antipa's tenement granted holding covers over 5 100 km2 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.
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