bullish
New World Resources Ltd - Advancing the Antler Copper Deposit in Northern Arizona
SUMMARY
- New World Resources Ltd (ASX:NWC) is developing the Antler copper deposit in northern Arizona and the earlier-stage Javelin copper project which lies about 75kms to the south- east of Antler.
- The company has recently released an updated scoping study (May 2023) in which it upgraded the production profile by 30% to 15.4Mt at 1.3Mtpa for 13 years at an average grade of 3.0% copper equivalent (Cu Eq.) for capex of US$252m to deliver 381,400 tonnes of Cu Eq metal.
- The study identified that over the life of the project, Antler should produce US$3.0bn in revenue and US$1.5bn in free cashflow with a pre-tax IRR of 40.2%. New World is also undertaking a pre-feasibility study on the project and intends submitting mine permit applications in Q3 2023.
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- New World Resources Ltd - Advancing the Antler Copper Deposit in Northern Arizona29 Jun 2023
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