Quarterly Activities/Appendix 5B Cash Flow Report
| Stock | Antipa Minerals Ltd (AZY.ASX) |
|---|---|
| Release Time | 23 Jan 2025, 8:16 a.m. |
| Price Sensitive | Yes |
Antipa Minerals Quarterly Activities and Cashflow Report
- Scoping Study released, reaffirming technical and financial viability of a gold mining and processing operation at Minyari Dome
- Exploration success with new zones of near-surface high-grade gold discovered at Minyari Dome
- $17 million in cash proceeds received from sale of Citadel JV Project interest
Antipa Minerals Ltd (ASX: AZY) has reported on its activities for the quarter ended 31 December 2024. Key highlights include the completion of a Scoping Study for the 100%-owned Minyari Dome Gold-Copper Project, which reaffirmed the technical and financial viability of a gold mining and processing operation. The initial mine schedule includes 30 Mt at 1.5 g/t gold for a total of 1.5 Moz gold, with total initial gold production of 1.3 Moz at an average rate of 130 koz per annum for the first 10 years. The Scoping Study also estimated a pre-tax NPV7 of A$834M and 52% IRR, at US$2,100/oz gold and 0.70 A$/US$ (A$3,000/oz).The company also reported outstanding initial assay results from its CY2024 Phase 2 drilling at Minyari Dome, including the discovery of additional new zones of near-surface high-grade gold. Notable results were returned from the south of the GEO-01 prospect area (now referred to as Fiama), the Minyari South Deposit, and from Minyari Southeast resource definition drilling.Additionally, Antipa received A$17 million in cash proceeds from the sale of its non-controlling interest in the Citadel JV Project. The company also completed an equity placement, raising A$16 million in new capital, and ended the quarter with a strong cash balance of A$36.5 million and zero debt.
The Scoping Study estimated total initial gold production of 1.3 Moz at an average rate of 130 koz per annum for the first 10 years of the Minyari Dome Project's life.
Antipa plans to continue exploration targeting additional resource growth, plus delineation drilling and further metallurgical testing, to de-risk and unlock substantial underlying value at Minyari Dome. A Pre-Feasibility Study for the Minyari Dome Project may commence in Q1 CY2025, subject to Board approval.