Antipa Minerals Ltd (ASX:AZY) has successfully placed the entire shortfall from a recently completed entitlement offer of about $1.3 million with the placement of about 101.4 million shares.
At the same terms of the entitlement offer, the placement shortfall will be issued at a price of $0.013 per share, with subscribers also receiving one free option to acquire a share for every two shares applied for and issued.
A total of about 50.7 million options will be issued as part of the shortfall placement.
“Robust endorsement”
“The inbound demand received with respect to our entitlement shortfall shares is a robust endorsement for the compelling exploration activities currently underway at our 100% owned Minyari Dome Project,” Antipa Minerals managing director Roger Mason said.
“The additional funds will be applied to our aggressive resource growth and discovery drilling at the exciting GEO-01, Tetris and Pacman targets.”
Antipa recently began phase two of drilling at the Minyari Dome Gold-Copper Project in Western Australia's Paterson Province, targeting existing gold-copper resources and new greenfield discoveries with over 19,000 metres of reverse circulation drilling.
The company also received assay results from re-split samples of the GEO-01 discovery, which returned peak grades of 1-metre at 19.95 g/t gold from 137 metres down-hole.