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GoldMining Inc. (TSX: GOLD, NYSE American: GLDG) is a public mineral exploration company focused on acquiring and developing gold assets across the Americas. Through a disciplined acquisition strategy, GoldMining Inc. has built a diversified portfolio of resource-stage gold and gold-copper projects in Canada, the United States, Brazil, Colombia, and Peru. The company's projects include the La Mina Gold project, the Titiribi Gold-Copper project in Colombia, the Crucero project in Peru, and the São Jorge project in Brazil, among others.
Recent Achievements and Current Projects:
- GoldMining Inc. was placed in the top two mining companies for the 2017 TSX Venture 50, noted for exceptional market performance.
- Ownership of a 75% interest in the Rea Uranium project in Alberta, Canada, emphasizes their resource diversification.
- Recent significant events include the renewal of the at-the-market equity program to raise up to $50 million for exploration and development activities.
- Ongoing exploration at the São Jorge project in Brazil has identified potential new gold targets, with a new drilling program commenced in 2024.
- The Rea Uranium project in the Athabasca Basin is set to advance with upcoming exploration plans targeting high-grade uranium deposits.
- The sale of the Nutmeg Mountain Project to NevGold Corp. has increased GoldMining's equity holdings, enhancing its financial position.
- GoldMining Inc. holds substantial shares in Gold Royalty Corp., U.S. GoldMining Inc., and NevGold Corp., providing additional strategic value.
Financial Condition:
GoldMining Inc. maintains a strong financial position with over $129 million in cash and equities. The company has recently filed its annual financial statements, providing transparent insights into its financial health and strategic acquisitions.
GoldMining Inc.'s long-term growth strategy focuses on prudent project advancements and value-driven acquisitions to benefit its shareholders. The company’s efforts in exploration, project development, and strategic investments place it at the forefront of the gold mining industry.
GoldMining Inc. has established a new subsidiary, U.S. GoldMining Inc., focused on the Whistler gold-copper Project in Alaska. The board approved its operation as a separate public entity, enhancing value without diluting GoldMining's capital structure. Currently, the Whistler project holds indicated resources of 3.0 million gold equivalent ounces and inferred resources of 6.5 million ounces. Gold prices are near $2,000 per ounce, providing favorable conditions for this development. The subsidiary aims to apply modern geologic models to unlock further potential.
GoldMining Inc. has appointed Eric Chen as Director of Mineral Resources, leveraging his 30 years of expertise in resource geology and mining operations. CEO Alastair Still emphasized Chen's extensive background with major companies, predicting significant benefits for GoldMining's project development and risk management strategies. Chen expressed enthusiasm for joining the seasoned team to advance their portfolio of gold and gold-copper projects across the Americas. GoldMining continues to control a diversified portfolio of resource-stage projects in Canada, the USA, Brazil, Colombia, and Peru.
VANCOUVER, BC, Jan. 24, 2022 /PRNewswire/ - GoldMining Inc. (NYSE American: GLDG) invites investors to its presentation at the TD Securities Virtual Global Mining Conference on January 28, 2022, at 9:50 AM ET. Interested parties can register via this link. A recording of the presentation will be available on the company’s website for 90 days post-conference. GoldMining focuses on gold asset acquisition and development across the Americas, controlling a diversified portfolio of projects.
GoldMining has announced the results of a positive Preliminary Economic Assessment (PEA) for the La Mina Project in Colombia, which estimates production of over 1 million gold equivalent ounces over a 10.4-year mine life. The project is projected to generate a pre-tax NPV of $340 million and an internal rate of return (IRR) of 14.5%. It includes the extraction of over 165 million pounds of copper and over 600,000 ounces of silver. Mining is anticipated to begin within 24 months with a capital cost of approximately $299.5 million.
GoldMining Inc. (NYSE American: GLDG) has announced an equity distribution agreement with a syndicate of agents, allowing it to sell up to US$50 million of common shares through an at-the-market equity program. The proceeds will be used for exploration, development of mineral properties, and working capital. The agreement will terminate upon reaching the sales limit or on January 1, 2023. The program is set to commence following the filing of a prospectus supplement.
GoldMining announced positive assay results from the ongoing infill sampling program at its 100% owned São Jorge property in Brazil. The program aims to evaluate previously unsampled core intervals, with results indicating mineralized saprolite in historic drill holes. Key findings include:
- SJD-067-06: 1.06 g/t gold over 7.6m.
- SJD-029-05: 0.62 g/t gold over 12.0m.
The results enhance the understanding of mineralization and warrant further exploration. The preliminary economic assessment indicates potential for defining existing mineralization.
GoldMining Inc. (GLDG) announced the replacement of a 1.33% net production royalty on its Cachoeira Project in Brazil with a 0.5% net smelter return royalty (NSR). BRI Mineração Ltda., a subsidiary, executed this transaction by paying US$100,000 and delivering 324,723 common shares to the royalty counterparty. This new NSR includes a buy-back option for half (0.25%) of the NSR for US$250,000, enhancing the project's value by eliminating pre-production payments. CEO Alastair Still emphasized this move as part of their strategy to unlock value from their gold portfolio.
GoldMining has successfully closed a US$20 million loan facility agreement with the Bank of Montreal. This funding is earmarked for general corporate purposes and project advancements, including the Yellowknife Gold Project in Canada, São Jorge in Brazil, and La Mina in Colombia. The facility has a one-year maturity, extendable subject to lender approval, and bears an interest rate of 3-month USD LIBOR plus 5.65%. An initial loan of US$10 million has been disbursed. The loan is secured by shares in Gold Royalty Corp.
GoldMining has secured a US$20 million loan facility from Bank of Montreal, aimed at bolstering its financial position and advancing various projects. This facility offers an interest rate of 3-month USD LIBOR plus 5.65% and can be extended for an additional year upon lender approval. Funds will be utilized for corporate purposes, acquisitions, and advancing the Yellowknife Gold, São Jorge, and La Mina projects. The commitment underscores GoldMining's disciplined approach to value creation and its ongoing interest in Gold Royalty Corp., valued at approximately US$110 million.
GoldMining Inc. (GLDG) announced initial infill assay results from its São Jorge property in Brazil. The ongoing program involves 14 holes targeting unsampled core intervals from previous drill programs. Significant results include 1.23 g/t gold over 89.0m and 3.62 g/t over 14.0m in hole SJD-058-06. The company aims to better define mineralization through this program, following a preliminary economic assessment. Further assay results are expected as the program progresses, highlighting the potential for increased mineralization at São Jorge.
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