Rising gas demand in the EU countries, which have been imposing sanctions on their main provider, Russia, on the back of the Ukraine war, has ... prompted Egypt on the other side of the Mediterranean to boost its LNG exports. Yet, its high domestic consumption and possibly insufficient infrastructure remain stumbling blocks.
The company is currently working on an updated resource estimate to be published at the end of the fourth quarter. The current estimate of 1.4 million ounces is likely to increase to about 2 million, Alexander says. “There’s a huge opportunity for us to explore,” he says. “It’s a world-class opportunity.”
The Enchi project, 100% owned by Newcore, extends over 216 square kilometres in the southwest of the country near the border with Côte d’Ivoire. 50 kilometres to the north lies the Chirano mine, owned by Asante Gold, which produced about 155,000 ounces of gold in 2021. Enchi is situated on the same regional structure as Chirano and, Newcore says, has comparable geology.