Name of the Project
Antler copper project.

Location
Arizona, US.

Project Owner/s
Exploration and development company New World Resources.

Project Description
The project proposes the development of a 1.2-million-tonne-a-year underground operation with a 12.2 year life, comprising 13.6-million tonnes at 1.6% copper, 3.7% zinc, 0.6% lead, 24.5 g/t silver and 0.26 g/t gold. 

About 341 100 t of copper-equivalent metal will be payable over the life-of-mine, or 30 100 t copper equivalent a year.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 7% discount rate, of $636-million and an internal rate of return of 34.3%, with a payback of 3.3 years after tax.

Capital Expenditure
$298-million.

Planned Start/End Date
Production is targeted for 2027.

Latest Developments
New World Resources has secured a A$14-million institutional placement to accelerate the development of the project.

The placement, issued at A$0.020 a share, will result in about 700-million new fully paid ordinary shares issued to institutional, professional, and sophisticated investors, including key North American cornerstone investors.

Proceeds from the placement, along with existing cash reserves, will be used to progress Antler towards a final investment decision. Specifically, funds will support the definitive feasibility study (DFS), permitting and approvals, exploration activities, corporate financing initiatives, and working capital.

New World MD Nick Woolrych has said the strong response from investors has demonstrated confidence in the company's development strategy and the growing recognition of Antler as one of the highest-grade copper assets in the US.

The company’s board of directors and senior management have also committed to subscribe for an estimated A$640 000 under a second tranche, subject to shareholder approval at an extraordinary general meeting expected in April 2025.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
New World Resources, tel +61 9226 1356 or email info@newworldres.com.