Newcore Gold Ltd (OTCQX:NCAUF)(TSXV:NCAU) CEO Luke Alexander talked with Proactive about the company’s ongoing exploration efforts and recent financing success. He highlighted Newcore Gold’s flagship project in Ghana, describing it as a development-stage asset with significant district-scale exploration potential.
Alexander emphasized that Newcore Gold is currently undervalued based on project economics. He revealed that the company recently raised 15.00 million Canadian dollars, exceeding its initial 12.00 million target due to strong demand from institutional investors. The additional funding has allowed Newcore to expand its planned drill program from 10,000m to 35,000m, with a focus on both resource conversion and new exploration targets.
Discussing financials, Alexander stated that Newcore Gold has approximately 17.00 million Canadian dollars in the bank, with an additional 14.00 million in outstanding warrants that could provide further funding. He noted that this financial position gives the company a solid runway for at least two years of development.
Looking ahead, investors can expect a steady stream of news, with drill results being released monthly, alongside updates on hydrological, geotechnical, and metallurgical studies aimed at advancing the project.
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