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New World Resources (ASX:NWC) has published a full-fledged pre-feasibility study (PFS) for its Antler copper project in Arizona, USA.
The bottom line?: New World is now charging ahead to a DFS to better pin down calculations.
All in all, New World’s PFS outlines a mine with a 12.2Y life across 1.2Mt of ore mined per year from underground at a grade of 1.6% copper.
All in all, the company expects 341Kt of copper and other metals to be produced at Antler with unadulterated copper equivalent placed at 30,100tpa.
Existing infrastructure saw the company labelling Antler “low technical risk” on Wednesday and brandish a 2027 production target.
CapEx is expected to be just short of US$300M against a life of mine post-tax free cashflow of US$978M from US$3.16B in revenue across the 12.2Y Antler is expected to run.
Those economics stack up, of course, as long as copper prices remain robust. Macquarie analysts expect the orange metal’s recent strength to continue through FY25.
“The positive PFS demonstrates a technically and financially robust project capable of delivering more than 30,000 tonnes per annum of payable copper equivalent metal over a 12-year life from an underground operation feeding a 1.2Mtpa on-site processing plant,” New World MD Mike Haynes said.
“[Financial projections are] based on conservative commodity price assumptions. Using spot prices, the pre-tax NPV increases to US$857 million and the IRR rises to 42.2.”
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