Anax Metals (ASX: ANX) Secures $103M Strategic Investment to Accelerate Whim Creek Project Restart, Boosting ASX200 Outlook

May 05, 2025 06:20 PM PDT | By Team Kalkine Media

Google News:

Anax Metals (ASX: ANX) Secures $103M Strategic Investment to Accelerate Whim Creek Project Restart, Boosting ASX200 Outlook — Image source: shutterstock

Recent News

CACI International (NYSE:CACI) A Closer Look S&P 500

Full Truck Alliance (NYSE:YMM) Sees Institutional NYSE Composite

Targa Resources (NYSE:TRGP) performance outpaced NYSE Composite index

Canada’s housing affordability: new report lowers expectations

Highlights

Anax Metals (ANX) secures $103 million investment to accelerate Whim Creek restart.

Mineral Development Partners (MDP) to take significant equity in Anax and Whim Creek project.

The deal strengthens Anax's financial position for future growth and regional asset consolidation.

Anax Metals (ASX:ANX) has secured a major strategic investment of $103 million from Mineral Development Partners (MDP), a global consortium focused on advancing high-potential mineral assets. This funding will play a pivotal role in fast-tracking the restart of the Whim Creek copper project, a key asset for Anax. With this investment, MDP will earn up to 19.99% equity in Anax and a majority interest of up to 81.1% in the Whim Creek project, significantly enhancing the project's development and operational prospects.

The breakdown of the investment includes a $3.3 million convertible note, priced at $0.015 per share, which represents a 200% premium on Anax's current share price. Additionally, MDP will inject $10 million into Whim Creek Metals, a wholly-owned subsidiary of Anax, for a 30% equity stake. The consortium will also contribute up to $50 million to further develop Whim Creek, allowing it to secure a 42% equity stake in the project. Furthermore, up to $40 million in additional funding will be allocated to turn Whim Creek into a base metals processing hub for the Pilbara region.

This strategic partnership with MDP comes at a critical time for Anax as it prepares for a restart at Whim Creek, with the investment directly aligning with the capital required as per the definitive feasibility study (DFS) published in April 2023. Anax's Managing Director, Geoff Laing, expressed excitement over the funding, emphasizing the transformational potential this deal brings to the company. With a fully permitted copper project, robust infrastructure, and a promising location, Anax is poised to build a profitable and sustainable business.

The Whim Creek project is held through a joint venture (JV) structure, with Anax owning 80% and Develop Global holding the remaining 20%. The JV's goal is to develop a 400,000 tonnes per annum concentrator and refurbish the heap leach facility to process a variety of ore types, including oxide, transitional, and supergene ore.

In addition to supporting the project's development, MDP's investment will help Anax strengthen its financial position, with the company maintaining approximately $4 million in cash. This will also enable near-term revenue generation through the sale of aggregates and road base materials sourced from existing waste rock at Whim Creek.

This investment marks a key milestone for Anax Metals (ASX:ANX), positioning the company for future growth and providing a positive outlook for its standing within the ASX200 index. As the mining sector continues to show strong potential, especially in base metals, Anax is well-placed to contribute to the evolving landscape of ASX dividend stocks, offering additional value to shareholders. For more details on ASX200 stocks and dividend opportunities, visit Kalkine Media ASX Dividend Stocks.

Anax Metals (ASX:ANX) is entering a new phase of growth with the backing of Mineral Development Partners, a significant step forward in the Whim Creek project's restart and the company’s broader strategic goals.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.