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Newcrest Mining Expands Acquisitions

Gold and copper giant Newcrest Mining notified the market that they have expanded their diversification potential by topping up on their 9.9 percent stake in Antipa Minerals.

The 15-billion-dollar company is a major shareholder in the base metals and gold explorer. Antipa Minerals reported on September 12 that it has secured $9 million in placement commitments from institutional and knowledgeable investors. Consequently, Newcrest decided to also top up by raising funds via a top-up placement on the same terms as Antipa's recent share offering.

If Newcrest, Antipa's largest shareholder, decided to exercise its rights within five working days, the placement might have been enhanced to $10 million.

Therefore, Antipa will release an additional 36.7 million shares thanks to Newcrest's pledge. After Antipa's SPP of up to $3 million is finalised, Newcrest has also informed its investee that it wants to exercise its top-up right again.

It was revealed earlier this week that Antipa would put the money into ongoing research and project development at its Minyari Dome project in Western Australia's Paterson area.

Antipa Managing Director Roger Mason stated:

"We enthusiastically appreciate Newcrest's continuous support for Antipa and its Paterson provincial portfolio and plan, particularly our fast growing 100% owned Minyari Dome gold asset."

Shares from the top-up transaction are scheduled to settle on Friday, September 23, and be issued the following Monday.

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