First straw here. Not a gold exploration spec lover but I am in on this. Initially purchased when Rio announced their Winu find and it was awfully close to Antipa's tenements. Antipa is now in the position of having three joint ventures - Rio Tinto, Newcrest and IGO minerals. This gives them around $150 m for exploration of the other prospective ore bodies in their wholly owned areas.

There have been some good drill results released recently from one JV but where this really has the potential is finding a sizeable economic mineral deposit on their wholly owned ground. This would put a rocket under the share price. No rockets if one of the JV come up with a good find though I suspect there will be decent gains if this occurs. 

So far management have been transparent with the release of information in a timely manner. They have clearly articulated that the JV are to fund exploration on their own ground with the intention of becoming a producer. That may include using existing processing at Telfer or at Winu if that is developed (and it seems to be pushing ahead).

I hold for the LT on this.