Kore Mining: digging into the recent PEA

SEEKING ALPHA | Kore Mining released its maiden Preliminary Economic Assessment earlier this month, with a projected 8-year mine life and an after-tax NPV (5%) of over US$340 million.

The project has a modest initial capex of US$142 million compared to similar projects among peers, especially considering a solid gold production profile of 146,000 ounces per year.

However, while the company may look very cheap in relation to its after-tax NPV (5%), more work is needed as the resource and PEA are based on mostly historic drilling.

Based on a weak balance sheet and a resource based on mostly historic drilling, I see the stock as high-risk, high-reward currently.


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