Newcore Gold
Primary ticker: TSXV:NCAU, OTCQX:NCAUF
Stage of development: Exploration, Development
Primary minerals: Gold
Project to promote: Enchi Gold Project
Project location: Ghana
Website: newcoregold.com
Newcore Gold Ltd. (TSX-V: NCAU, OTCQX: NCAUF) is advancing its 100%-owned Enchi Gold Project in southwest Ghana. The project’s 248 sq km land package covers 40 kms of Ghana’s Bibiani Shear Zone, a gold belt which hosts several large, multi-million-ounce gold mines. A PEA completed in 2024 highlighted the robust economics of developing an open pit, heap leach mine at Enchi, with low capital intensity and strong leverage to the gold price. Enchi’s longer-term potential benefits from the district-scale exploration opportunity that is largely underexplored to date with both resource growth potential along strike and at depth. Newcore’s top-tier leadership is aligned with shareholders through their 22% equity ownership.
Cash: CAD $3.7M
Debt: Nil
Major shareholders:
Franklin – 9%
Ruffer – 6%
Aegis – 6%
Merk – 3%
Euro Pacific – 3%
Management ownership – 22%
Financials
Management Profile
Luke Alexander – President, CEO & Director
Mr. Alexander joined Newcore Gold as President, CEO & Director in May 2020. He brings extensive resource sector experience, knowledge and contacts to Newcore, particularly in West Africa. He has raised billions of dollars and structured deals for major mining companies while advising some of the world’s top institutional investment funds. Mr. Alexander began his investment banking career in the private client group at BMO Nesbitt Burns in Toronto, then started up an equity trading desk for Toronto Dominion in London before doing the same for National Bank. In 2008, he became senior partner at GMP Securities in London. Throughout his investment banking career, he helped fund many major resource projects in West Africa. In 2018, Mr. Alexander founded Park Road Capital, a Vancouver-based, natural resource focused consulting company where he focused on leveraging his investment banking expertise.
Mal Karwowska – VP, Corporate Development & IR
Ms. Karwowska has over 15 years of experience in the mining sector, spanning both corporate development and investor relations roles within publicly listed mining companies, as well as corporate finance and principal investing. She spent the first five years of her career in investment banking, focused on the mining sector, before transitioning to investment roles for mining focused funds. Her most recent experience also includes working with corporates in a business development and investor relations capacity. She holds a Bachelor of Commerce in Finance and Accounting from the Sauder School of Business at the University of British Columbia.
What is your rationale for taking part in 121 Mining Investment?
Focused on meeting equity investors who are looking to buy on-market.
What recent news would you like to highlight to investors attending?
https://newcoregold.com/news/
Newcore Gold Announces Positive Updated Preliminary Economic Assessment for the Enchi Gold Project, Ghana (April 25, 2024). https://newcoregold.com/news/newcore-gold-announces-positive-updated-2024-preliminary-economic-assessment-for-the-enchi-gold-project-ghana/
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Market the recently released PEA for our Enchi Gold Project. Complete additional metallurgical testwork.
6 Months:
Continue to advance our Enchi Gold Project towards production. This will include a decision on next steps post PEA to advance the Project towards a next level of study and will likely include additional drilling to prove up the Inferred resource to Indicated. We will also continue to de-risk the Project with additional metallurgical testwork.
12 Months:
Continue to unlock the value of our Enchi Gold Project with work programs focused on advancing the project towards a construction decision.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Informing potential investors why Ghana is a top-tier jurisdiction, especially relative to its neighbours in West Africa. We overcome this by continuing to highlight the benefits of Ghana as a gold mining jurisdiction.
What do you think makes your company such a compelling investment?
Team, Asset, and Capital Markets Support. We have a top-tier team with a track-record of creating value for stakeholders, and a team that has strong alignment with its shareholders through 22% equity ownership. We have an asset with significant potential given the district scale opportunity and one that is underpinned by robust economics outlined in a PEA . We have strong capital markets support with ~45% institutional ownership.
What are the top 3 key investor takeaways?
Top-Tier Team – World Class Asset – Capital Markets Support