ANTIPA MINERALS LIMITED (AZY)
Share Price Analysis and Chart

05/03/2025

1

Buy, High Risk

$0.66

41.94%

Antipa Minerals has announced Newmont Corp ((NEM)) has withdrawn from the Wilki Project farm-in agreement, resulting in Antipa retaining full ownership of the project.

The Wilki Project, located 30km from Antipa’s Minyari project, contains a 103koz Mineral Resource, with a promising undrilled Parklands target nearby, explains the broker.

Management plans to drill the Parklands target in H1 2025 and has increased its internal Mineral Resource estimate to 4.4moz gold equivalent from 2.9oz.

Shaw raises its target price to 66c from 36c due to recent increased mineral prospectivity, 100% ownership of the Wilkie project, and due to the progress of development studies at Minyari. Buy, High Risk.

Note: there has been 10:1 share consolidation, approved at the company's AGM on February 21.

FORECAST
Shaw and Partners forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.00 cents.
Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.00 cents.

10/03/2025

1

Speculative Buy

$0.95

104.30%

Antipa Minerals has retained full ownership of the Wilki Project, notes Canaccord Genuity, after Newmont Corp ((NEM)) decided to withdraw from its farm-in agreement.

This withdrawal allows Antipa to fully control a vast expanse of land, with several exciting greenfield targets, including the Parklands and Jezabeel prospects, highlights the broker.

Management plans to undertake up to 16,000m of drilling in 1H 2025, with Parklands as the primary focus.

Canaccord has raised its target price to 95 cents from 70 cents, reflecting the increased value from the full retention of Wilki and reduced forecast dilution. The Speculative Buy rating remains unchanged.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -3.00 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -3.00 cents.