Antipa Mineral’s recent exploration success in Western Australia’s highly prospective Paterson Province has garnered the attention of leading UK-based corporate advisory outfit Bacchus Capital Advisors.
Bacchus has been engaged to act as its strategic and financial adviser, assisting the company manage its corporate strategy and development plans in advancing its Minyari-WACA gold-copper deposits some 40km north of Newcrest’s monster Telfer mine.
For Antipa, the appointment of Bacchus Capital frees up the Board and Management to focus on considering and evaluating interest from various parties, as well as to consider other opportunities in the region.
Bacchus has been involved in some major recent transactions in the resources space including the bid defence for Rio Tinto, the post financial crisis recapitalisation of Anglo American, and the defence and sale of WMC Resources.
“Antipa’s pre-eminent land position in Western Australia’s highly prospective Paterson Province, home to Newcrest’s nearby world class Telfer gold-copper-silver mine and the O’Callaghans tungsten-copper discovery, the Nifty copper mine and the Kintyre uranium deposit, makes Antipa one of Australia’s most exciting and under-appreciated exploration and development companies,” Bacchus Capital’s chairman and chief executive Peter Bacchus said.
“Our decision to act as the Company’s strategic and corporate adviser is based on our strong belief in the Antipa team, and the Company’s potential to delineate multiple deposits similar to those already found in the Province.
“The Telfer deposit within the Paterson has remarkable similarities to the Carlin Trend deposits of Nevada, USA where similar structures to Telfer have, since the original Carlin discovery in 1961, continued to produce very large deposits commonly exceeding 15m oz.”
Last month, Antipa revealed that it had four mineral deposits within 35km of each other and Minyari and WACA, all with mineralisation commencing at or close to surface.
The project has a maiden Indicated and Inferred Mineral Resource for Minyari-WACA of 11.0Mt grading 2.0 g/t gold, 0.24% copper and 380ppm cobalt for 723,000 ounces of gold, 26,000 tonnes of copper and 4,000 tonnes of cobalt.
The news was music to the ears of Antipa’s investors with the stock (ASX: AZY) closing over 9% higher at 2.4c on Wednesday.