Newcore Gold (TSX-V:NCAU, OTCQX:NCAUF) CEO Luke Alexander sheds light on the promising future of the Enchi project in Ghana, Africa's leading gold-producing nation and the sixth largest globally, in an interview with Proactive's Angela Harmantas at PDAC 2024.
Alexander said the district-scale exploration project is underpinned by a robust 2021 preliminary economic assessment (PEA), with an update planned for the first half of this year, hinting at an expanded project scope.
Ghana's rich history of gold production, boasting 200 million ounces of historical discoveries and hosting some of the world's largest gold producers, like Newmont, provides a competitive yet promising arena for Newcore Gold.
The company's strategic location and extensive exploration, including a 95,000-meter drilling campaign over three years and multiple resource updates, are expected to culminate in a compelling 2024 PEA.
Amid a strong gold market, Alexander discussed the project's anticipated economic strengths, referring to promising figures from the 2021 PEA—a $100 million capex for 100,000 ounces of annual production and an after-tax NPV of $300 million at an $1,850 gold price.
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