Newcore Gold (TSXV: NCAU) President and CEO Luke Alexander joins Kitco Mining’s Investment Trends with Paul Harris at VRIC 2026 to discuss advancing the Enchi gold project in Ghana’s Bibiani Shear Zone and how higher gold prices are shaping development decisions across Africa.

Alexander says the company has expanded drilling to 45,000 m but is “still just scratching the potential across our entry project,” with more than 25 targets identified and only nine drilled so far. Recent high-grade results, including visible gold, are helping validate the geological model and support the potential for feeder zones similar to those that have driven significant resource growth at other major Ghanaian gold mines.

Looking ahead to a pre-feasibility study targeted for June 2026, Alexander outlines how optimization work and a higher gold price environment could improve project economics. He explains that for every $100 move in the gold price, the project’s after-tax net present value increases by roughly $50 million, highlighting the leverage embedded in Enchi beyond the assumptions used in the 2024 preliminary economic assessment.

The discussion also covers warrant expiry on Feb. 27, 2026, funding for expanded drilling, and the potential for a rerating as Enchi advances toward development and a possible production decision by 2029. 

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00:36 – Enchi Project Update: Drilling Progress and Exploration Upside
01:56 – High-Grade Gold Results and Visible Gold Discoveries
05:35 – Pre-Feasibility Study Plans and Project Optimization
11:22 – Balance Sheet Strength, Warrants, and Funding Strategy
20:17 – Gold Market Dynamics, Africa M&A, and Valuation Gaps
23:56 – Key Catalysts, PFS Timeline, and Closing Remarks
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