New Risk • Jul 08
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$33m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-AU$33m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable next year (AU$2.3m net loss next year). Revenue is less than US$5m (AU$1.7m revenue, or US$1.2m). Announcement • Sep 22
Antipa Minerals Limited, Annual General Meeting, Nov 25, 2025 Antipa Minerals Limited, Annual General Meeting, Nov 25, 2025. Board Change • Aug 18
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent & Non-Executive Director Peter Buck was the last independent director to join the board, commencing their role in 2010. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jul 08
Antipa Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 40 million. Antipa Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 40 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 66,458,333
Price\Range: AUD 0.6
Discount Per Security: AUD 0.03
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 208,334
Price\Range: AUD 0.6
Discount Per Security: AUD 0.03
Transaction Features: Subsequent Direct Listing Board Change • May 01
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. 2 independent directors (3 non-independent directors). Independent & Non-Executive Director Peter Buck was the last independent director to join the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Feb 17
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 43% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 43% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (34% increase in shares outstanding). Revenue is less than US$1m (AU$216k revenue, or US$138k). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$17m net loss in 3 years). Share price has been volatile over the past 3 months (12% average weekly change). New Risk • Feb 10
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 34% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (34% increase in shares outstanding). Revenue is less than US$1m (AU$216k revenue, or US$136k). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$2.3m net loss in 3 years). Share price has been volatile over the past 3 months (12% average weekly change). Board Change • Feb 04
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. 2 independent directors (3 non-independent directors). Independent & Non-Executive Director Peter Buck was the last independent director to join the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Dec 24
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. 2 independent directors (3 non-independent directors). Independent & Non-Executive Director Peter Buck was the last independent director to join the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Dec 19
Antipa Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 16 million. Antipa Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 16 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 640,000,000
Price\Range: AUD 0.025
Discount Per Security: AUD 0.0015
Transaction Features: Subsequent Direct Listing Announcement • Oct 03
Antipa Minerals Ltd Announces the Appointment of Mark Rodda as Executive Chair Antipa Minerals Ltd. announced the appointment of Mr. Mark Rodda as Executive Chair of the Company, effective, 3 October 2024. Current Non-Executive Chair, Mr. Stephen Power, will remain on the Antipa Board as a Non-Executive Director. Mr. Rodda, who has been a Director of Antipa since 2010, brings nearly 30 years of experience as a lawyer and corporate consultant, with an extensive background in legal, commercial, and corporate management roles within the resources sector. His previous roles include General Counsel for LionOre Mining International, former Chair of Coalspur Mines, and current Director of Lepidico. Mark's deep expertise in overseeing growth and strategic projects across multiple mining operations is well aligned with the Company's exploration and development plans in the Paterson Province. New Risk • Jun 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$9.7m free cash flow). Earnings are forecast to decline by an average of 7.8% per year for the foreseeable future. Revenue is less than US$1m (AU$680k revenue, or US$452k). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$5.1m net loss in 3 years). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (AU$60.0m market cap, or US$39.9m). New Risk • Feb 03
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$13m free cash flow). Earnings are forecast to decline by an average of 5.8% per year for the foreseeable future. Revenue is less than US$1m (AU$225k revenue, or US$146k). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$8.3m net loss in 3 years). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (AU$57.9m market cap, or US$37.7m). New Risk • Jan 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$13m free cash flow). Revenue is less than US$1m (AU$225k revenue, or US$150k). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$8.3m net loss in 3 years). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (AU$74.4m market cap, or US$49.6m). New Risk • Oct 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$13m free cash flow). Revenue is less than US$1m (AU$225k revenue, or US$143k). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$8.3m net loss in 3 years). Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (AU$57.9m market cap, or US$36.9m). New Risk • Oct 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 22% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$13m free cash flow). Earnings are forecast to decline by an average of 22% per year for the foreseeable future. Revenue is less than US$1m (AU$225k revenue, or US$142k). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$8.3m net loss in 3 years). Shareholders have been diluted in the past year (12% increase in shares outstanding). Market cap is less than US$100m (AU$44.4m market cap, or US$28.0m). Announcement • Oct 24
Antipa Minerals Limited Announces Successful in an Application for AUD 220,000 in Additional Funding from the Western Australian Government's Exploration Incentive Scheme Antipa Minerals Ltd. announced that it has been successful in an application for AUD 220,000 in additional funding from the Western Australian Government's Exploration Incentive Scheme (EIS) (Funding Grant). Funding Grant: This Funding Grant relates to Exploration Incentive Scheme (EIS) Round 28 and will apply from 1 December 2023 to 30 November 2024. The Funding Grant contemplates the completion of diamond core drilling, to be 50% EIS co-funded. This means the diamond core drilling expenditure at GEO-01, Pacman (PM1, PM2 and PM3) and Tetris (T1) targets is eligible for up to a combined AUD 880,000 refund from the WA Government under the EIS scheme. Diamond core drilling at the PM3 target is currently anticipated to occur during second quarter current year 2024. Consistent with previous years, these various programmes and budgets will be subject to ongoing review based on results, field conditions, contractor availability and pricing, and other relevant matters. Antipa would like to acknowledge the ongoing support provided by the WA Government through its EIS programme for the Company's Paterson Province exploration programmes. The EIS co-funded drilling programme preferentially funds high quality, technical and economically based projects that promote new exploration concepts and are assessed by a panel on the basis of geoscientific and exploration targeting merit. Pacman Targets: The Pacman targets (PM1, PM2 and PM3) are located approximately 30km to the east of the Minyari deposit. PM1 is a magnetic high in a fold nose, bearing some resemblance to Havieron. PM2 is a gravity high with a partially coincident magnetic high, bearing a geophysical likeness with the regional Nifty high-grade copper deposit. PM3 is an ovoid discrete 1,200m by 900m gravity high anomaly with semi-coincident 1,200m magnetic high anomaly on larger curvilinear feature. As with PM1, the PM3 geophysical anomalism bears a similarity in style, geometry and scale to the Havieron deposit. All three Pacman targets are hosted by interpreted Havieron equivalent stratigraphy under approximately 350m of cover. The closest effective drill hole to any of the Pacman targets is located around 10km away. A detailed aeromagnetic survey has also recently been completed over the Pacman area to enhance geological and structural interpretation for refinement of the targets prior to drilling. Diamond core testing of the PM1 and PM2 large-scale greenfield targets is scheduled to commence in November, with the current programme also supported by a previously announced AUD 220,000 Western Australian Government co-funding drilling grant. Announcement • Oct 13
Antipa Minerals Limited, Annual General Meeting, Nov 17, 2023 Antipa Minerals Limited, Annual General Meeting, Nov 17, 2023, at 11:00 W. Australia Standard Time. Location: the offices of BDO, Level 9, Mia Yellagonga Tower 2, 5 Spring Street, Perth Western Australia Australia Agenda: To receive and consider the annual financial report of the Company for the financial year ended 30 June 2023 together with the declaration of the Directors, the Director's report, the Remuneration Report and the auditor's report; to consider adoption of remuneration report; to consider re-election of Director - Stephen Power; to consider approval of 7.1A Mandate; to consider issue of Director Options to Stephen Power; to consider issue of Director Options to Roger Mason; and to consider other matters. Reported Earnings • Sep 23
Full year 2023 earnings released: AU$0.001 loss per share (vs AU$0.002 loss in FY 2022) Full year 2023 results: AU$0.001 loss per share (improved from AU$0.002 loss in FY 2022). Net loss: AU$3.25m (loss narrowed 44% from FY 2022). Production and reserves: Gold Number of mines: 3 (3 in FY 2022) Revenue is expected to decline by 100% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to grow by 3.3%. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 37% per year, which means it is performing significantly worse than earnings. New Risk • Sep 22
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 1.7% per year for the foreseeable future. Revenue is less than US$1m (AU$210k revenue, or US$135k). Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$13m). Currently unprofitable and not forecast to become profitable over next 3 years (AU$1.8m net loss in 3 years). Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (AU$47.8m market cap, or US$30.8m). Announcement • Sep 07
Antipa Minerals Limited, Annual General Meeting, Nov 17, 2023 Antipa Minerals Limited, Annual General Meeting, Nov 17, 2023. New Risk • Aug 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$13m free cash flow). Revenue is less than US$1m (AU$210k revenue, or US$137k). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$4.9m net loss in 3 years). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (AU$57.6m market cap, or US$37.4m). Reported Earnings • Mar 15
First half 2023 earnings released: AU$0.001 loss per share (vs AU$0.001 loss in 1H 2022) First half 2023 results: AU$0.001 loss per share (in line with 1H 2022). Net loss: AU$2.07m (loss narrowed 47% from 1H 2022). Revenue is forecast to decline by 98% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Board Change • Nov 17
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. 2 independent directors (3 non-independent directors). Independent & Non-Executive Director Peter Buck was the last independent director to join the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Sep 30
Full year 2022 earnings released Full year 2022 results: Net loss: AU$5.86m (loss widened 65% from FY 2021). Revenue is forecast to decline by 100% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to remain flat. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. 2 independent directors (3 non-independent directors). Independent & Non-Executive Director Peter Buck was the last independent director to join the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 18
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: AU$0.001 loss per share (vs AU$0.001 loss in 1H 2021). Net loss: AU$3.94m (loss widened 55% from 1H 2021). Revenue was in line with analyst estimates. Over the next year, revenue is expected to shrink by 100% compared to a 344% growth forecast for the industry in Australia. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Reported Earnings • Sep 15
Full year 2021 earnings released: AU$0.001 loss per share (vs AU$0.001 loss in FY 2020) Full year 2021 results: Net loss: AU$3.56m (loss widened 91% from FY 2020). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 17
First half 2021 earnings released: AU$0.001 loss per share (vs AU$0.001 loss in 1H 2020) First half 2021 results: Net loss: AU$2.54m (loss widened 213% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 01
Full year earnings released - AU$0.0009 loss per share Over the last 12 months the company has reported total losses of AU$1.86m, with losses widening by 4.2% from the prior year.