New World, which had A$5.5 million at the end of March after raising $8 million in December, estimates Antler’s capex will increase 25% to US$252 million for an operation that could generate $153 million per annum in “free cash”.
The NPV jumped 59% to $835 million.
The IRR is 40%.
New World used the same commodity price inputs in its latest study, including copper at $8500/t and zinc at $2800/t.
At 11.4 million tonnes grading 2.1% copper, 5% zinc, 0.9% lead, 33 grams per tonne silver and 0.36gpt gold, Antler’s resource is 48% larger than that studied in the 2022 scoping work.
A prefeasibility study is targeted for completion at the end of the fourth quarter this year.
Mine permit applications are due to be lodged in the third quarter, New World said.
Shares in New World were unchanged at A4.4c in morning trade, capitalising the company at $92.6 million.
