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Newcore Gold Ltd

www: newcoregold.com   email: info@newcoregold.com
Category: Junior: Late Stage Developer
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Symbol Data

Symbol Currency
CVE:NCAU CAD
OTCMKTS:NCAUF USD

Description

Newcore Gold Ltd are a gold focused junior, late stage developer with one mine in development in Ghana. They have approximately 2.1Moz. of gold in the reserves and resources category of which 1.5Moz. are in the measured and indicated category. They have a market capitalisation of ~C$70.02M which is a fall of roughly 47% over the last two months. As of 05/12/2026 they have no debt and ~C$7.84M cash. They have 306M shares outstanding and trade on the Canadian Venture Exchange and the over-the-counter markets.

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General Details

Financial 05/12/2026
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
MCap (FD): $131.69M $70.02M 05/14/2026 $-61.66M
MCap (OS): $124.72M $66.55M 05/14/2026 $-58.17M
Total Assets: $33.64M $32.80M 05/12/2026 $-0.84M
Total Liabilities: $0.15M $0.14M 05/12/2026 $0.00M
Current Assets: $8.04M $7.84M 05/12/2026 $-0.20M
Current Liabilities: $0.12M $0.12M 05/12/2026 $0.00M
Total Debt: $0.00M $0.00M 05/12/2026 $0.00M
Cash: $8.04M $7.84M 05/12/2026 $-0.20M
Debt (Net): $-8.04M $-7.84M $0.20M
Enterprise Value: $123.64M $62.18M $-61.46M
Cash Flow: $0.00M $0.00M never $0.00M
Cash Flow Multiple: 0.00 0.00 never 0.00
Net Debt to
Cash Flow Ratio:		 n/a n/a never 0.00
Finance within 1 year: 05/12/2026 n/a
Misc 05/12/2026
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 284,248,690 306,000,001 05/14/2026 21,751,311
Shares (FD): 300,128,305 322,000,000 05/14/2026 21,871,695
Insider Ownership: 25% 25% 06/24/2026 n/a
Dividend (Annual): n/a n/a 06/24/2026 n/a
Company Type: Mostly Gold Mostly Gold never n/a
Group: Developer Developer never n/a
Production ETA: n/a 01/01/2028 05/12/2026 n/a
Production (Gold Eq Oz.): (guess) 
0		 (guess) 
0		 05/12/2026
Production (Silver Eq Oz.): (guess) 
0		 (guess) 
0		 05/12/2026
Development Phase: PEA Released PFS Released 06/24/2026 n/a
Optionality Play: none No
F
U
T
U
R
E		 % of Spot: 15
Developer: Strong Path to Production
 15
Developer: Strong Path to Production
 05/12/2026 0
Cash Flow Multiple: 5 4 06/24/2026 -1.00

Resource Data

GOLD 05/12/2026
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 05/12/2026 0.00M
Measured & Indicated: 1.50M 1.50M 05/12/2026 0.00M
Inferred: 0.60M 0.60M 05/12/2026 0.00M
Reserves & Resources: 2.10M 2.10M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 05/12/2026 0.00M
Measured & Indicated: 0.96M 0.96M 05/12/2026 0.00M
Inferred: 0.24M 0.24M 05/12/2026 0.00M
Reserves & Resources: 1.20M 1.20M never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 05/12/2026 $600.00
Extra Operating Cost: n/a n/a 05/12/2026 $0.00
Total: $2,400 $3,000 05/12/2026 $600.00
Margin (Free Cash Flow): n/a $0.00
MCap / Production (AuEq): n/a n/a n/a
EV / Production (AuEq): n/a n/a n/a
G
R
A
D
E		 Underground (Avg): n/a n/a 05/12/2026 n/a
Open Pit (Avg): n/a 0.60 g/t 05/12/2026 n/a
Recovery Rate: (CG)  80.00% (CG)  80.00% 06/24/2026 0.00%
F
U
T
U
R
E		 Proven & Probable: 2.50M 2.50M 05/12/2026 0.00M
Annual Production: 120,000oz. 130,000oz. 06/24/2026 10,000oz.
Cash Cost: $1,400 $2,000 06/24/2026 $600
Extra Operating Cost: $1,000 $1,000 05/12/2026 $0
SILVER 05/12/2026
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 05/12/2026 0.00M
Measured & Indicated: n/a n/a 05/12/2026 0.00M
Inferred: n/a n/a 05/12/2026 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 05/12/2026 0.00M
Measured & Indicated: n/a n/a 05/12/2026 0.00M
Inferred: n/a n/a 05/12/2026 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 05/12/2026 $0.00
Extra Operating Cost: n/a n/a 05/12/2026 $0.00
Total: n/a n/a 05/12/2026 $0.00
Margin (Free Cash Flow): n/a $0.00
MCap / Production (AgEq): n/a n/a n/a
EV / Production (AgEq): n/a n/a n/a
G
R
A
D
E		 Underground (Avg): n/a n/a 05/12/2026 n/a
Open Pit (Avg): n/a n/a 05/12/2026 n/a
Recovery Rate: n/a n/a 05/12/2026 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 05/12/2026 0.00M
Annual Production: n/a n/a 05/12/2026 n/a
Cash Cost: n/a n/a 05/12/2026 n/a
Extra Operating Cost: n/a n/a 05/12/2026 n/a

Property

Last Analysis Data  (05/12/2026)
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 Au Ag Cu Notes
Dev Enchi
100 40.00 106.00 show
Enchi is likely to get built.

1.5 million oz resource and growing.

PEA completed in 2015.

Size: 25,000 ha
Current Data
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 Au Ag Cu Notes
Dev Enchi
100 40.00 106.00 show
Enchi is likely to get built.

1.5 million oz resource and growing.

PEA completed in 2015.

Size: 25,000 ha

Profitability (by resource)

Proven &
Probable		 05/12/2026
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: n/a n/a n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): n/a n/a n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 0.00M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: n/a n/a n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 0.00M
Maximum Profit (Gold): n/a n/a n/a $0.00M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: n/a n/a n/a $0.00M
Max Profit / Current MCap: n/a n/a n/a 0.000
Max Profit Per Share (Gold): n/a n/a n/a $0.00
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: n/a n/a n/a $0.00
Total Free Profit Per Share: n/a n/a n/a $0.00
FD MCap / Gold Eq.: n/a n/a n/a $0.00
FD MCap / Silver Eq.: n/a n/a n/a $0.00
FD MCap / Per Metal
as % Spot Price:		 n/a n/a n/a 0.00%
EV / Gold Eq.: n/a n/a n/a $0.00
EV / Silver Eq.: n/a n/a n/a $0.00
EV / Per Metal
as % Spot Price:		 n/a n/a n/a 0.00%
Measured &
Indicated		 05/12/2026
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 1.50M 1.50M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 25.47M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.96M 0.96M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 16.30M
Maximum Profit (Gold): $2,232.34M $977.75M n/a $-1,254.59M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $2,232.34M $977.75M n/a $-1,254.59M
Max Profit / Current MCap: 16.952 13.963 n/a -2.989
Max Profit Per Share (Gold): $7.44 $3.04 n/a $-4.40
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $7.44 $3.04 n/a $-4.40
Total Free Profit Per Share: $6.84 $2.73 n/a $-4.11
FD MCap / Gold Eq.: $137.17 $72.94 n/a $-64.23
FD MCap / Silver Eq.: $2.51 $1.02 n/a $-1.49
FD MCap / Per Metal
as % Spot Price:		 2.90% 1.82% n/a -1.09%
EV / Gold Eq.: $128.79 $64.77 n/a $-64.02
EV / Silver Eq.: $2.35 $0.90 n/a $-1.45
EV / Per Metal
as % Spot Price:		 2.73% 1.61% n/a -1.11%

Reserves &
Resources		 05/12/2026
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 2.10M 2.10M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 35.65M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 1.20M 1.20M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 20.37M
Maximum Profit (Gold): $2,790.42M $1,222.19M n/a $-1,568.23M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $2,790.42M $1,222.19M n/a $-1,568.23M
Max Profit / Current MCap: 21.190 17.454 n/a -3.736
Max Profit Per Share (Gold): $9.30 $3.80 n/a $-5.50
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $9.30 $3.80 n/a $-5.50
Total Free Profit Per Share: $8.70 $3.49 n/a $-5.21
FD MCap / Gold Eq.: $109.74 $58.35 n/a $-51.38
FD MCap / Silver Eq.: $2.01 $0.81 n/a $-1.19
FD MCap / Per Metal
as % Spot Price:		 2.32% 1.45% n/a -0.87%
EV / Gold Eq.: $103.03 $51.82 n/a $-51.22
EV / Silver Eq.: $1.88 $0.72 n/a $-1.16
EV / Per Metal
as % Spot Price:		 2.18% 1.29% n/a -0.89%

Future Valuation (Cash Flow & Totals)

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