Antipa Minerals Clarifies Updated Scoping Study for Minyari Dome Project
ANTIPA MINERALS LIMITED (AZY) Share Update October 2024 Thursday 24th
Antipa Minerals Updates Scoping Study for Minyari Dome Project
Antipa Minerals Ltd (ASX: AZY) has released an updated scoping study for its 100% owned Minyari Dome Gold-Copper Project, retracting previous peer comparisons and reaffirming the project's development potential.
Instant Summary:
- Retraction of peer comparisons in the presentation.
- Minyari Dome Project confirmed as having exceptional stand-alone development potential.
- Initial gold output projected at 1.3 Moz over a 10+ year processing life.
- Pre-tax NPV of A$834 million with an IRR of 52% at A$3,000/oz gold price.
Project Overview
Antipa Minerals has updated its scoping study for the Minyari Dome Gold-Copper Project, highlighting its exceptional stand-alone development potential. The project is strategically located in a world-class gold-copper district, with significant interest from investors.
Key Financial Metrics
The updated study projects an initial gold output of 1.3 million ounces over an initial 10+ year processing life. The pre-tax net present value (NPV) is estimated at A$834 million, with an internal rate of return (IRR) of 52%, based on a gold price of A$3,000 per ounce.
Retraction of Peer Comparisons
Antipa Minerals has retracted all references to peer comparisons previously included in the presentation, advising investors not to rely on such information for investment decisions. This move underscores the company's commitment to providing accurate and reliable data.
Development and Exploration
The project features simple, non-refractory metallurgy supporting a standard CIL plant design, with estimated gold recoveries of 90%. The company's aggressive exploration program aims to further enhance resource scale and unlock additional value drivers.
The retraction of peer comparisons may initially cause some uncertainty among investors. However, the reaffirmation of the project's robust economics and development potential is likely to bolster confidence in Antipa Minerals' strategic direction. The project's strong financial metrics and strategic location in a prolific mining district suggest a positive long-term outlook.
Investor Reaction:
Analysts are likely to view the retraction of peer comparisons as a prudent move to ensure transparency. The focus on the project's strong fundamentals and development potential may help mitigate any negative sentiment resulting from the retraction.
Conclusion:
Investors should consider the updated scoping study's robust financial metrics and the strategic location of the Minyari Dome Project. Antipa Minerals' continued exploration efforts and commitment to transparency are positive indicators for the company's future growth prospects.