Antipa Minerals (AZY) H2 2025 earnings summary

Executive summary

• Advanced Minyari Dome Gold-Copper Project towards feasibility, with two Mineral Resource Estimate (MRE) updates, now totaling 2.5Moz gold, 84kt copper, 666koz silver, and 13kt cobalt.

• Completed sale of 32% Citadel JV interest to Rio Tinto for A$17M, boosting cash reserves and enabling focus on wholly owned assets.

• Reconsolidated 100% ownership of Wilki and Paterson Projects after partner withdrawals, forming a 4,100km² belt-scale project.

• Added to S&P Dow Jones ASX All Ordinaries Index as of September 2025.

Financial highlights

• Net loss of A$5.34M for FY25, compared to A$2.44M loss in FY24.

• Cash and cash equivalents at year-end: A$36.5M, up from A$8.0M in FY24.

• Net cash outflow from operations: A$2.02M (FY24: A$1.84M).

• Proceeds from Citadel JV sale: A$16.8M.

• Share-based payments expense: A$1.41M (FY24: A$0.59M).

Outlook and guidance

• Focus on advancing Minyari Dome to pre-feasibility and final investment decision.

• Expanded and accelerated resource growth and discovery drilling, supported by strong cash position and recent A$40M placement post year-end.

• Ongoing assessment of funding options, including debt and equity.