Coffee with Samso Episode 189 is with Mike Haynes, Managing Director and CEO of New World Resources Limited (ASX:NWC).
In our previous conversation with New World Resources Limited (ASX:NWC) the focus was on getting mining happening. Today the mining process is in place. While they are currently undergoing necessary procedures, they are also actively pursuing highly promising exploration targets.
There is a scarcity of stories on the Australian Stock Exchange (ASX) that revolve around copper, especially high-grade copper. The Antler project, within the copper mineral exploration industry, is widely regarded as a technically robust project. It can now be better classified as a near-producer story as the company progresses into the mine planning stage.
Those readers who have watched the earlier Coffee with Samso episode of Mike Haynes introducing the Antler project would be familiar with the high-grade nature of the copper story in 2021 and 2022 (see below). Samso has been showcasing the New World Resources Limited story since March 2021.
I have full confidence that the Antler project of New World Resources would successfully pass a rigorous due diligence process. The abundance of technical information and the untapped potential of the resource are undeniable. The only obstacles that remain are the mining process and the stability of the copper price.
In this episode, Mike brings to the attention of the Samso community the Antler project and the exciting prospects of other high-grade copper projects in their portfolio.
Figure 1: Copper price chart. (source: www.tradingeconomics.com)
Mike Haynes provides an overview of the company's upcoming plans, highlighting the exploration targets within the Antler project and the new Javelin project located approximately 75km south-east from Antler.
The Javelin VMS project has shown promising exploration results thus far, prompting New World Resource's strong interest in commencing work. Notably, it exhibits robust multi-element anomalies that were defined in May 2023. Furthermore, the project's northern third, which was completed in July 2023, reveals exceptional IP anomalies, further substantiating the project's significance.
According to Mike, the project has identified both shallow VMS and deeper 1.2km x 1.0km porphyry copper targets. New World Resources plans to initiate a drilling program in Q4 of 2023.
Samso's Thoughts
As mentioned earlier, New World Resources is a highly recommended company to include in your watchlist for thorough research. The current bearish sentiment in the market has depressed equity prices in the small-cap sector, which presents a hidden opportunity for new investors in New World Resources.
For existing shareholders, this may be a favourable time to consider averaging down their investments. I recall my Coffee with Samso with Rick Rule (Commodities and Equities: Advice from Rick Rule - Episode 70) , where he shared the story of his investment in Paladin Energy Limited (35:54 Rick and Paladin - The story of Investing in Mineral Explorers). Despite the stock price dropping to 1c, he remained confident in the project's quality, the company's management, and the factual truth behind it.
If you have watched all the episodes of Coffee with Samso featuring Mike Haynes, you would have noticed the consistent nature of the conversations. Antler stands out in the industry due to its rare technical expertise. When considering technical attributes and potential, the Golden Grove VMS deposit in Western Australia serves as a suitable comparison for Antler.
If you are interested in learning more about New World Resources, please don't hesitate to send me an email. I will gladly forward it to Mike Haynes. I highly encourage engaging in a dialogue with the management team, as they are more than willing to take the time to address any queries you may have.
Check out this Coffee with Samso with Mike Haynes from New World Resources Limited.
Chapters:
00:00 Start
00:20 Introduction
01:15 Updates from New World Resources
02:24 The resource value
03:17 Upsides to the Antler exploration
05:33 Discussion about the recent scoping study
08:07 Discussion about Porphyries
10:36 The mining strategy
14:30 VMS belt clusters
20:16 The Javelin Project
23:48 The next set of drilling
27:45 Discussion about current commodities
30:20 Exceptional IP anomalies
37:29 Any possible risks?
40:34 News flow
43:38 Why should investors look at New World Resources?
45:03 Conclusion
PODCAST
About Mike Haynes
Managing Director and CEO
Mr Haynes has more than 25 years’ experience in the international resources industry. He graduated from the University of Western Australia with an honours degree in geology and geophysics and has explored a wide variety of ore deposit styles throughout Australia and extensively in Southeast and Central Asia, Africa, Europe, South and North America.
Mr Haynes has held technical positions with both BHP Minerals and Billiton plc. He has worked extensively on project generation and acquisition throughout his career. During the past 17 years he has been intimately involved in the incorporation and initial public offerings of numerous resources companies, and in the ongoing financing and management of those and other companies.
About New World Resources Limited
New World Resources Limited is an Australian company focused on the exploration and development of mineral resources projects in North America.
It is listed on the Australian Securities Exchange under the code NWC.
On 14 January 2020 New World Resources Limited announced that it had executed an agreement that provides it with the right to acquire a 100% interest in the high-grade Antler Copper Deposit in Arizona, USA. In October 2021, after 18 months of exceptional results, New World exercised its option and took 100% ownership of Antler.
About the Antler Copper Project
Excellent Location
• Located in a sparsely populated part of northern Arizona
• Privately-owned land
• 70% of all copper produced in the US is from mines in Arizona
Proven VMS District
• Cluster of 30-40 VMS deposits in northern Arizona; largest:
• United Verde – mined 33Mt of ore @ 4.8% Cu (1883-1975)
Excellent Infrastructure
• 15km from rail and an interstate highway
• Mains power to within 700m of the old headframe • 55km by road to Kingman (population ~30,000)
• Benefits of existing infrastructure:
- Cheaper to build a new mine
- Cheaper to operate a mine
Disclaimer
The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer.
VMS (Volcanogenic Massive Sulfide) Deposits Explained
In simple terms, Volcanic-associated Massive Sulphide (VMS) deposits are caused by underground metal-rich volcanoes rising and creating a cooking environment.
I suggest you download this eBook which explains the VMS and How to Add Value to your Share Portfolio
A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook.
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