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    AZY   AU000000AZY0

ANTIPA MINERALS LIMITED

(AZY)
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Delayed Australian Stock Exchange  -  05/20 01:46:11 am EDT
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05/02Antipa Minerals Updates Mineral Resource of Minyari Dome Project
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05/01Antipa Minerals Limited Announces Minyari Dome Project Gold Resource Increases 250% to 1.8 Million Oz of Gold +
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04/27ANTIPA MINERALS : Quarterly Activity and Cashflow - 31 March 2022
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ANTIPA MINERALS LTD - IGOELECTS TO PROCEED TO NEXT STAGE OF PATERSONPROJECT FARM-IN

12/23/2021 | 10:05am EDT

Antipa Minerals Ltd (ASX: AZY) (Antipa or the Company) is pleased to announce the decision by IGO Newsearch Pty Ltd, a wholly owned subsidiary of IGO Limited (IGO) to assume management of the farm-in agreement on the Paterson Project in the Paterson Province of Western Australia (Paterson Project).

IGO's decision to assume management of the Paterson Project follows the satisfactory completion of the initial commitment of A$4 million exploration expenditure, which it had to complete within the first 2.5 years of commencement of the Paterson Project farm-in agreement (initial stage completed in first 1.5 years).

The next stage requires IGO to spend a further A$26 million of exploration expenditure by January 2027 to earn a 70% joint venture interest in the Paterson Project.

IGO's management of the operations of the Paterson Project will take effect in March 2022.

Farm-in Terms

The farm-in agreement with IGO requires the following expenditure to be incurred and paid by IGO to earn a 70% joint venture interest: Initial A$4 million minimum exploration expenditure by January 2023 to be managed by Antipa. This has now been satisfied. No joint venture interest was earned by the incurring of this amount.

Further A$26 million exploration expenditure by January 2027 to earn a 70% joint venture interest which IGO has now elected to manage.

Upon joint venture formation, IGO shall free-carry Antipa to the completion of a Feasibility Study.

Contact:

Tel: +61 (0)8 9481 1103

About Antipa Minerals

Antipa is a mineral exploration company focused on the Paterson Province in north-west Western Australia, home to Newcrest Mining's world-class Telfer gold-copper mine, Rio Tinto's Winu copper-gold deposit, Greatland Gold-Newcrest's recent Havieron gold-copper discovery and other significant mineral deposits. Having first entered the Paterson in 2011 when it was a less sought-after exploration address, the Company has used its early mover advantage to build an enviable tenement holding of 5,200km2 , including the 1,300km2 Citadel Joint Venture Project with Rio Tinto (who currently holds a 65% joint venture interest), the 2,200km2 Wilki Project that is subject to a $60 million Farm-in and Joint Venture Agreement with Newcrest (who is yet to earn a joint venture interest) and the 1,500km2 Paterson Project that is subject to a $30 million Farm-in and Joint Venture Agreement with IGO (who is yet to earn a joint venture interest). The Citadel Project lies within 5km of the Winu discovery and contains a Mineral Resource of 1.64 million ounces of gold and 128,000 tonnes of copper from two deposits, Calibre and Magnum. Antipa retains 144km2 of 100%-owned Minyari Dome Project tenements which contains an established Mineral Resource, with the Minyari and WACA deposits containing 723,000 ounces of gold and 26,000 tonnes of copper plus other deposits and high quality exploration targets. Unlike certain parts of the Paterson where the post mineralisation (younger) cover can be kilometres thick, making for difficult exploration, the Company's combined 5,200km2 tenement portfolio features relatively shallow cover; approximately 80% being under less than 80 metres of cover. Extensive drilling and geophysical surveys are planned for 2021 across Antipa's combined Paterson tenement portfolio as the company pursues a dual strategy of targeting tier-one greenfields discoveries and growing its existing resources through brownfields exploration.

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
ANTIPA MINERALS LIMITED 0.00% 0.043 Delayed Quote.-12.24%
IGO LIMITED 5.14% 11.66 Delayed Quote.1.66%
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Financials
Sales 2022 - - -
Net income 2022 -1,00 M -0,70 M -0,70 M
Net Debt 2022 - - -
P/E ratio 2022 -0,90x
Yield 2022 -
Capitalization 135 M 94,9 M 94,9 M
Capi. / Sales 2022 -
Capi. / Sales 2023 -
Nbr of Employees 21
Free-Float 73,1%
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Number of Analysts 1
Last Close Price 0,04 AUD
Average target price 0,08 AUD
Spread / Average Target 86,0%
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Managers and Directors
Roger Craig Mason Managing Director & Executive Director
Luke Watson Chief Financial Officer & Secretary
Stephen Michael Power Non-Executive Chairman
Peter Stanley Buck Independent Non-Executive Director
Gary Donald Johnson Independent Non-Executive Director
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