Newcrest locks in its 9.9% stake in Antipa Minerals as a show of confidence

Antipa has received a show of support from major shareholder Newcrest which exercised its right to maintain a 9.9% interest in the company.

This will be achieved through a top-up placement of shares priced at 2.7c each that will take the total raised by the placement up from $9m to $10m.

Newcrest’s belief in Antipa Minerals’ (ASX:AZY) plan to accelerate exploration and appraisal activities at the Minyari Dome gold project is further highlighted by its commitment to top-up right following completion of the recently announced share purchase plan to raise up to $3m.

“We warmly welcome Newcrest’s ongoing support for Antipa and its Paterson Province portfolio and strategy, including our rapidly emerging 100%-owned Minyari Dome Gold Project,” managing director Roger Mason said.

Sweet exploration funds

Proceeds from the placement and now the Newcrest top-up placement will be used to fund ongoing exploration and project development activities at the wholly-owned Minyari Dome gold project.

This includes an aggressive resource expansion drilling consisting of both diamond and reverse circulation holes which will test a range of gold-copper-cobalt resource growth targets and prospects with a focus on the Minyari deposit.

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This article was developed in collaboration with Antipa Minerals (ASX:AZY), a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.