Newcore Gold – PEA Recap, Enchi Project; After-Tax NPV(5%) of $371 million, After-Tax IRR of 58% at $1,850/oz Gold

May 6, 2024

On April 25th, Newcore Gold (TSX.V:NCAU – OTCQX:NCAUF) released a maiden Preliminary Economic Assessment (“PEA”) from the Enchi Gold project, in Ghana. Some of the key headline numbers include; 

  • After-tax NPV5% of $371 million, after-tax IRR of 58% at $1,850/oz Gold, 
  • Average annual gold production of ~120,000 ounce,
  • LOM operating costs (1) estimated at $801/oz of gold, cash costs (2) estimated at $934/oz of gold, LOM all-in sustaining costs (AISC) (3) estimated at $1,018/oz of gold,
  • Initial capital costs estimated at $106 million (including a 20% contingency)

Luke Alexander, President and CEO of Newcore joins me to recap the PEA numbers and discuss what comes next in terms of catalysts for the Company. We also discuss valuation metrics.


If you have any follow up questions for Luke please email me at



Click here to read over the full news release announcing the PEA.