Modern Mining March 2025

CEO, Luke Alexander and Greg Smith (VP Exploration) with the team at site reviewing the drilling underway at Newcore Gold’s Enchi Gold Project in Ghana.

Luke Alexander (CEO) and Greg Smith (VP Exploration) standing next to a drill collar at the Sewum South target at Newcore Gold’s Enchi Gold Project in Ghana.

African mining world, which was recently in the spotlight for the acquisition of US-based Newmont Corp’s Akyem gold project in Ghana, by China’s Zijin Mining Group, for $1 billion. Apart from the Zijin/Newmont deal, Gold Fields recently acquired Osisko Mining for $1.6 billion and AngloGold Ashanti forked out $2.5 billion for Centamin. “On completion of the Zijin Mining deal, Ghana will have four of the top 10 largest gold producers with significant operations in-country, including Newmont, Zijin, AngloGold Ashanti and Gold Fields. From an investor perspective, Newcore Gold is 45% institutionally owned, which means that there exists a real recognition by precious metals focused institutional investors of the tremendous upside of our Enchi project. From a management and board level perspective, the key players have significant skin in the game, owning 18% of Newcore,” he explains. “While Newcore Gold will keep all avenues open, entertaining discussions with various corporates, our eye is firmly on taking the project towards a construction decision and ultimately to production,” concludes Alexander. n

Luke Alexander (CEO) with Greg Smith (VP Exploration) reviewing core at the core shack facility at the Enchi Gold Project in Ghana.

MARCH 2025 | www.modernminingmagazine.co.za  MODERN MINING  15