KORE Mining Ltd.
KORE Mining Ltd. is a Vancouver-based gold explorer/developer advancing the Imperial Gold Project, a shallow open-pit, run-of-mine heap-leach deposit in Imperial County, southeastern California, USA, alongside the earlier-stage Long Valley gold-silver project in Mono County. A Preliminary Economic Assessment (effective 30 Dec 2019 resource, released 6 Apr 2020; base case US$1,450/oz Au) reported an after-tax NPV at a 5% discount rate of US$343 million, an after-tax IRR of 44%, an 8-year mine life averaging 146,000 oz Au/year (1.2 million oz total production), all-in sustaining costs of US$852/oz, and initial capital expenditure of US$142 million. The underlying resource totals 877,000 oz Au Indicated plus 1,336,000 oz Au Inferred. The company's shares were reinstated to TSXV trading in August 2025 following resolution of a Failure-to-File Cease Trade Order.
Notable vs. Peers
- Trading within 5% of its 52-week low — weak recent price momentum.
Lifecycle Milestones
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.
P/NAV of 0.02x sits in the 3rd percentile among 39 pea-stage gold peers, despite a jurisdiction score of 9/10 -- high enough that jurisdiction risk alone doesn't obviously explain the discount. Flagged as genuinely unexplained by this mechanical screen: either a real mispricing, or a real risk this screen can't see (a jurisdiction issue this score doesn't capture, or some other factor entirely) -- a distinct, more speculative bucket with no identified resolution catalyst, not the jurisdiction-risk pattern above. See this company's own profile page for any completed, cited research (Task #530) into that real "why," where one exists yet.
[Task #530, 2026-08-22] A genuinely useful negative finding rather than a dramatic one: no dispute, incident, or financing distress was found, but the $343M dcfNpvUsd this screen's own P/NAV calculation rests on comes from a PEA with an effective date of 30 Dec 2019 (filed 20 May 2020) using a base-case gold price assumption of just US$1,450/oz -- against a live spot gold price in the multiple thousands as of this research. KORE has not published an updated economic study on Imperial in over six years, unlike essentially every one of its stage+commodity peers in this screen's PEA|GOLD bucket, which carry 2025-2026-vintage studies. This means a meaningful share of KORE's apparent cheapness in this screen is plausibly a STALE-INPUT artifact (an NPV computed off a gold price roughly a third of today's) rather than a real, currently-priced risk or catalyst situation -- an honest, distinct finding from "the market is pricing in a known risk," worth flagging to a future researcher as a candidate for a fresh economic study rather than a risk/reward thesis in the Gabriel Resources sense.
A relative screen, not a probability and not a reason to buy. This flags companies trading unusually cheap vs. peers of the same lifecycle stage and commodity, for a real, identifiable reason (a jurisdiction risk, a specific dispute, an incident, a financing gap) that may or may not ever resolve favorably. "Unexplained" candidates carry no identified driver at all -- a more speculative bucket than a named catalyst.
Your Rankings
Management Team
Executive Chairman and Chief Executive Officer of KORE Mining Ltd., which he founded. Also founder of Karus Mining and Stronghold Silver. Bachelor of Science in Engineering (1999), specializing in geological and geotechnical engineering, University of New Brunswick.
Chief Financial Officer of First Atlantic Nickel & Cobalt Corp. (CA, CBV, CFA) Chartered accountant, chartered business valuator and CFA charterholder; founded CorpFinance in 1984 and was previously a Tax and Business Valuation Manager at Touche Ross & Co., assisting companies with financing, public offerings, and restructuring.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Eric Sprott made two large cash investments in KORE in 2019 and 2020, building a stake that peaked above 25% -- but he fully exited his common-share position on October 12, 2022, selling 29,508,444 shares over the TSX Venture Exchange (mistakenly believing his holdings had already fallen under the 20% insider-reporting threshold), at which point he and his holding company ceased to be insiders, retaining only 1,095,000 warrants (about 0.9% partially diluted). No reconfirmation of any renewed position has been found in the more than three years since -- this is a confirmed historical exit, not an unconfirmed dilution. No open-market insider buying was found -- all recent insider activity is placement participation.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Imperial Gold Project PEA (effective 30 Dec 2019 resource, released 6 Apr 2020): 877,000 oz Au Indicated (written to ouncesFound, the M&I convention -- no Measured category) plus 1,336,000 oz Au Inferred (context only, not written to ouncesFound). [Task #871] aiscValue=US$852/oz added from the same PEA's own AISC summary line -- see MetricSource.