@arsenic if/when we hit 20c (circa $600 million MC via take over...

@arsenic if/when we hit 20c (circa $600 million MC via take over or organically) I'd take a trip to Vegas (site visit to Antler or thereabouts)

The air quality permit application has been determined to be ‘technically complete’, making way for the next ‘Substantive Review’ phase as permitting continues for the Antler copper project.

Mine permitting has been a key focus area forNew World Resources (ASX:NWC)and its Antler copper project this year as it works towards bringing the high-grade 11.4Mt at 4.1% copper equivalent asset into development.

NWC made its first step in bringing the project back into production back when it submitted its initial application – which is expected to have the longest approval lead-time of all the requisite permits – in January this year.

Antler is situated within a sparsely populated part of northern Arizona, ~200km southeast of Las Vegas and 350km northwest of Phoenix.

NWC acquired the asset back in January 2020 with no resource and no mine development plan.

During its ownership, the company has declared two JORC resources, drilled more than 150 holes for >60,000m, completed two scoping studies andcarried out a pre-feasibility studyin July this year, which demonstrated a potential 1.2Mtpa underground operation with a 12.2-year life and 341,000t of copper equivalent metal.

Process moves to Substantive Review

NWC’s Air quality control permit application was submitted to the Arizona Department of Environmental Quality (ADEQ) on September 10.

The permit application addresses Antler’s air quality and emissions relating to construction, mining and mineral processing.

It has now been determined to be ‘Administratively Complete’ with the process moving to the ‘Substantive Review’ phase including a 30-day local public comment period.

Now that completeness has been determined, the statutory timeline for review by the ADEQ is 120 calendar days, inclusive of a 30-day public comment period, with approval expected in H1 2025.

Submission of additional permit applications relating to underground mining activities will continue through the rest of 2024, with mine permits expected to be progressively approved through 2025.

Setting the stage for construction

“It is pleasing that New World has achieved a determination of Completeness by the ADEQ in such a rapid timeframe, with no modifications required to our original application,” NWC managing director and CEO Nick Woolrych said.

“This is testament to the quality of the work undertaken by New World’s development team and our consultants.

“The Air Quality Control Permit represents one of the key state permits required for construction to commence,” he said.

“Once approvals are in place, we will be building a best-practice mining operation at Antler with low environmental and social impact.”