A VMS Story - The Antler High-Grade Copper Project - New World Resources Limited (ASX:NWC)

Share:

Listens: 0

Coffee with Samso

Business


Coffee with Samso Episode 79 with Mike Haynes, Managing Director, and CEO of New World Resources Limited (ASX:NWC) New World Resources Limited (ASX:NWC) is all about de-risking a high-grade copper mining project. The Antler project is a VMS (Volcanogenic Massive Sulfide) that explains the nature of the deposit. What I like about VMS is that it is normally high-grade, occurs in clusters, has a longer LOM (Life of Mine) and the funding required is what a small-cap company can handle. Coffee with Samso Episode 79 has Mike Haynes, the Managing Director and CEO of New World Resources Limited (ASX:NWC) talking about the Antler Project. Mike has been working in the US since 2005 and you can tell that he has a great understanding of how the business works in that part of the world. Over the years, I have been exposed to a few US projects and I have been very impressed with the technical merits. In nearly all cases, the potential to develop has been good. The issue at that time was the availability of capital. The tenure of these projects has been something I found significantly different to what is present here in Australian projects or in most other places. I think in project development, this can make a lot of difference to the ultimate success of a project. Not often do you find an intercept of 23m of ore with a grade of 6.7% Cu equivalent. It is just as rare to find that left in the ground for you to find. Mike Haynes shares with us the story of how Antler was acquired and how this will add significant value to the company. The high-grade nature of the project will shield the project from future price volatility. These are all the facets of what I like about this project. The fact is that ongoing drilling is finding better grades and bigger intersections as they go deeper. Hence, the path forward for the Antler project is all about a de-risking process towards mining.