Antipa Minerals (ASX:AZY) remains likely to be taken over by Greatland Resources (ASX:GGP) after the company updated its mineral resource estimate for its Western Australia project, according to a Thursday Euroz Hartleys note.
The company on Thursday posted an increase of 163,000 ounces in the mineral resource of its Minyari project in Western Australia.
The research firm maintained its view that if Greatland Resources were to acquire Antipa Minerals, it would significantly de-risk the ramp-up of the Havieron gold project, which comes with "considerable" ramp-up risk.
Euroz Hartleys maintained its speculative buy rating on Antipa Minerals with a price target of AU$0.90.