Shares in Antipa Minerals made solid gains on the ASX today, after the exploration firm announced it would merge its Paterson province copper-gold tenements in the Pilbara with a suite of landholdings owned by prominent prospector Mark Creasy.
Antipa said today it had entered an agreement to acquire Kitchener Resources, a company controlled by Mr Creasy that holds exploration applications over 3,367 square kilometres in the Patersons region.
Antipa will pay a 1 per cent royalty over the area, as well as issue Mr Creasy’s Yandal Investments 10 million shares priced at 5.5 cents each as consideration for the tenements.
The company said its combined landholding would cover 6,300sqkm once the transaction was complete.
“We are pleased to acquire such an exciting exploration package which cements our position as the pre-eminent landholder in the Paterson province,” Antipa managing director Roger Mason said.
At close of trade today, Antipa shares were up nearly 14 per cent, at 4.9 cents.
