Newcore Gold (NCAU) AI Stock Analysis

• Market Cap: C$118.91M
• Dividend Yield: N/A
• Average Volume (3M): 205.71K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.79
• Revenue Growth: N/A
• EPS Growth: 0.65%
• Country: CA
• Employees: 18
• Sector: Basic Materials
• Sector Strength: 60
• Industry: Gold
• EPS (TTM): -0.01
• Shares Outstanding: 212,331,190
• 10 Day Avg. Volume: 270,930
• 30 Day Avg. Volume: 205,714
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• Price to Cash Flow (P/CF): -32.90
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$0.90
• Price Target Upside: 60.71% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0

Newcore Gold's overall score reflects its current position as a speculative mining exploration company. The absence of revenue and profitability limits its financial performance score, but the company's debt-free status and strong cash flow from financing are positives. Promising drill results provide optimism for future resource growth, enhancing its market position. Technical indicators signal short-term momentum, albeit with caution due to overbought signals. Valuation remains challenging due to the lack of earnings and dividends.

Newcore Gold Business Overview & Revenue Model

Company Description

Newcore Gold Ltd. (NCAU) is a mineral exploration and development company focused on the discovery and development of gold properties. Headquartered in Canada, the company primarily operates in the mining industry and is engaged in exploring its flagship asset, the Enchi Gold Project, situated in southwestern Ghana, West Africa. Newcore Gold aims to create value for shareholders through the strategic exploration and development of its gold assets.

How the Company Makes Money

Newcore Gold makes money primarily through the exploration and development of gold mining projects. The company seeks to increase the value of its properties by conducting exploration activities, including drilling, sampling, and geological studies, with the goal of delineating gold resources that can be economically mined. Newcore Gold's revenue model involves advancing its projects to a point where they can be sold, partnered with larger mining companies, or developed into producing mines. While the company does not currently generate revenue from gold production, its earnings potential is tied to increasing the value of its assets and securing partnerships or sales of its projects. Factors contributing to its earnings include successful exploration results, favorable gold market conditions, and effective management of project development costs.

Newcore Gold Financial Statement Overview

Summary

Newcore Gold's financial health reflects its stage as a mining exploration company: no revenue, consistent losses, and reliance on equity financing. While the absence of debt is a strength, the lack of revenue and ongoing cash outflows highlight the speculative nature of the business, dependent on future resource discoveries.

Income Statement

Newcore Gold has consistently reported no revenue over the years, indicating a pre-revenue stage often seen in exploration companies. The negative EBIT and EBITDA margins reflect ongoing operational expenses without revenue generation. The net profit margin is negative due to sustained losses, highlighting the company's investment in exploration without immediate returns.

Balance Sheet

The company has maintained a debt-free position, which is a positive indicator of financial prudence. The equity ratio is strong as stockholders' equity constitutes a significant portion of total assets. However, without revenue generation, the reliance on equity financing may lead to dilution risks in the future.

Cash Flow

Operating cash flows are negative, which is typical for exploration companies not yet generating revenue. Free cash flow remains negative, indicating dependency on financing activities, yet cash flow from financing is strong, ensuring liquidity for operations. This reflects the company's strategy to finance exploration activities through equity rather than revenue.

Breakdown
TTM	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement		Total Revenue
0.00	0.00	0.00	0.00	0.00	0.00
	Gross Profit
-15.44K	-11.29K	-9.35K	-6.41K	0.00	0.00
	EBIT
-2.94M	-1.94M	-2.49M	-3.65M	-2.07M	-237.26K
	EBITDA
-2.88M	-1.94M	-2.62M	-4.01M	-2.07M	-226.81K
	Net Income Common Stockholders
-2.82M	-2.42M	-2.63M	-4.02M	-2.21M	-270.65K
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
2.59M	3.75M	3.59M	5.53M	13.21M	524.39K
	Total Assets
46.86M	46.23M	44.51M	40.39M	31.12M	14.65M
	Total Debt
0.00	0.00	0.00	0.00	0.00	0.00
	Net Debt
-2.59M	-3.75M	-586.14K	-775.01K	-1.28M	-92.39K
	Total Liabilities
273.24K	170.25K	492.97K	1.31M	1.58M	398.70K
	Stockholders Equity
46.59M	46.06M	44.02M	39.08M	29.54M	14.25M
Cash Flow		Free Cash Flow
-4.08M	-1.99M	-6.91M	-18.36M	-4.17M	-553.06K
	Operating Cash Flow
-2.70M	-1.99M	-2.19M	-2.53M	-1.36M	-282.90K
	Investing Cash Flow
-2.76M	287.90K	-2.90M	-8.61M	-14.41M	19.28K
	Financing Cash Flow
8.70M	4.92M	5.12M	10.67M	17.04M	0.00

Newcore Gold Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.56
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NCAU, the sentiment is Positive. The current price of 0.56 is above the 20-day moving average (MA) of 0.54, above the 50-day MA of 0.44, and above the 200-day MA of 0.35, indicating a bullish trend. The MACD of 0.04 indicates Positive momentum. The RSI at 63.31 is Neutral, neither overbought nor oversold. The STOCH value of 32.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:NCAU.

Newcore Gold Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EDV	73 Outperform	C$8.38B	―	-9.94%	3.21%	22.47%	-791.36%
BTO	54 Neutral	$5.40B	―	-18.54%	5.63%	-4.17%	-318.18%
NCAU	50 Neutral	C$118.91M	―	-5.55%	―	―	0.65%
Sector *	47 Neutral	$2.64B	-3.21	-21.68%	3.30%	4.19%	-30.23%

Newcore Gold Corporate Events

Newcore Gold’s Enchi Project Yields Promising Drill Results

Newcore Gold Ltd. announced promising drill results from its Enchi Gold Project in Ghana, particularly at the Sewum Gold Deposit, with significant gold mineralization intersected. The ongoing drilling program is confirming the continuity of gold deposits, indicating potential for resource growth and enhancing the confidence level of the existing Mineral Resource Estimate, which could positively impact Newcore’s operations and market positioning.

Newcore Gold Reports Promising Drilling Results at Enchi Project

Newcore Gold Ltd. has announced positive drill results from its ongoing 10,000-metre drill program at the Enchi Gold Project in Ghana. The drilling at the Boin Gold Deposit has revealed significant gold mineralization, including a notable intersection of 0.97 g/t gold over 96.0 metres. These results are part of a larger initiative to convert Inferred Resources to Indicated, enhancing the project’s potential for future resource growth and proving the continuity of gold mineralization. The results underscore the project’s potential to strengthen the confidence in existing resources, which could have positive implications for the company’s future operations and market positioning.

Newcore Gold Strikes High-Grade Gold in Ghana

Newcore Gold’s drilling at the Enchi Gold Project in Ghana has yielded the highest-grade gold interval to date, highlighting significant potential for resource growth. The ongoing 10,000-meter drill program continues to encounter wide zones of higher-grade mineralization, reinforcing the continuity of gold deposits across the project.

Newcore Gold Strengthens Team with Strategic Appointment

Newcore Gold has appointed Alan Pangbourne as a Strategic Advisor, leveraging his over 35 years of mining expertise. Pangbourne’s extensive experience, including his role in successful M&A activities, is expected to significantly boost Newcore’s Enchi Gold Project towards pre-feasibility completion.