Newcore Gold Ltd. (TSE:NCAU) has released an update.
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Newcore Gold Ltd. has announced promising results from the updated Preliminary Economic Assessment for its wholly-owned Enchi Gold Project in Ghana, projecting a substantial after-tax net present value of $371 million and an internal rate of return of 58% at a gold price of $1,850/oz. The assessment anticipates a low-cost operation with an average annual gold production of around 120,000 ounces over a nine-year life span, thanks to a low capital intensity, open pit, heap leach process.
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