Newcore Gold focuses on Africa's top gold-producing region
Newcore Gold is advancing its Enchi project in Ghana, Africa, a key country for some of the world's top gold miners.
Luke Alexander is the company president, CEO and a director. He spoke to Kitco on Tuesday.
Ghana is Africa's largest gold producer and seventh-largest worldwide. It has more ounces per kilometer than Nevada.
"You've got four of the top 10 largest gold producers in Ghana. You've got Newmont who obviously is the largest gold producer on the planet who has 18% of their total gold production coming from Ghana," said Alexander.
Ghana is political stable and has strong democratic credentials. President Akufo-Addo was re-elected in December.
The Enchi Gold Project hosts a 1.4 million-ounce inferred gold resource in a district hosting several 5 million-ounce gold deposits. This 216 square-kilometer land package covers 40 kilometers of Ghana's prolific Bibiani Shear Zone. The property remains substantially underexplored, with several high priority geochemical and geophysical anomalies yet to be tested by drilling.
The company has clear access to institutional funding with about 35% institutional ownership to date and backing by Ruffer Gold Fund. Newcore is aligned with its shareholders with 32% management and insider ownership.
"That leads us to making decisions as shareholders and being good stewards of shareholders' capital," said Alexander.