Newcore Gold Ltd.'s Enchi Project Shows Promising Economics at $3,800 Gold Price
Newcore Gold Ltd. (TSXV: NCAU) has made significant progress in its Enchi Gold Project in Ghana, releasing a pre-feasibility study that presents an attractive economics profile.
The study outlines an after-tax net present value of about US$496 million at a 5% discount rate, with an initial capital cost of around $351 million and an after-tax internal rate of return of approximately 37%.
Using a base-case gold price assumption of about US$3,800 per ounce, the study anticipates average annual production of 104,000 ounces over a 9.3-year mine life, with all-in sustaining costs of around $2,290 per ounce.
Newcore has also continued drilling at Enchi, reporting encouraging intercepts that extend high-grade mineralization and point to potential resource growth beyond the current reserve base.