Shaw and Partners is pleased to be appointed as Joint Lead Manager to the proposed capital raising by Antipa Minerals Limited (ASX.AZY).

The Company is seeking to raise approximately $8.0 million by issuing up to approximately 296.3 million new ordinary fully paid shares issued at $0.027 per share by way of a single tranche institutional placement with Management reserving the right to take up to an additional A$2.0 million.

The Company is considering undertaking a Share Purchase Plan for eligible shareholders in Australia and New Zealand which will be non-underwritten and will raise up to an additional $3.0 million.

The offer price of $0.027 per share represents a 12.9% discount to the last close ($0.031) on Wednesday, 7 September 2022 and a 16.6% discount to the 5 day VWAP ($0.0324) up to and including Wednesday, 7 September 2022. Participants in the raising will also receive one free attaching unlisted option for every two New Shares subscribed for and issued under the Placement and Share Purchase Plan, with an exercise price of $0.04 and expiring one year from the date of issue.

The capital raising will fund mineral resource extension and definition drilling at Minyari Dome, further advance maiden mineral resource deposits, prospects and targets within 4km of Minyari-WACA and fund the Pre-Feasibility Study of Minyari Dome.

Antipa is a mineral exploration company that has in excess of 5,100km2 of highly prospective tenure in the Paterson Province in north-west Western Australia, home to Newcrest Mining’s world-class Telfer gold-copper-silver mine, Rio Tinto’s Winu copper-gold-silver deposit, Greatland Gold / Newcrest’s recent Havieron gold-copper discovery and other significant mineral deposits.

Antipa recently released a scoping study on its 100%-owned Minyari Dome Gold Project, which confirmed the technical and financial robustness of a stand-along gold mining and processing operation, mining 21.4 mt containing 1.1 moz of gold and 390k oz of silver with 7+ years processing life at a nameplate 3 mtpa throughput.

The offer is available to Australian Sophisticated and Professional Investors only.