Goldmining Stock Price, News & Analysis

GoldMining Inc. has appointed David Garofalo as a director and co-Chair, bringing over 30 years of significant experience in the gold mining industry. His previous roles include CEO of Goldcorp and Chairman of Gold Royalty Corp. Garofalo's leadership is expected to enhance GoldMining's value creation strategy, which has seen progress with the IPO of Gold Royalty and the optioning of the Almaden Project. Amiri Adnani, the founder, expressed confidence in Garofalo's contributions to the company.

GoldMining Inc. (GLDG) has entered into a Distribution Agreement for a new at-the-market equity program to raise up to US$50 million. This program replaces a previous one expiring January 1, 2023, and allows the company to sell common shares at market price. The proceeds will fund exploration, development, acquisitions, and working capital. The new program takes effect upon filing a prospectus supplement and will terminate upon reaching sales of US$50 million or on November 27, 2023, whichever comes first.

GoldMining Inc. has successfully extended its loan facility with the Bank of Montreal for one year, now set to expire on October 27, 2023. The company opted to reduce the facility size from US$20 million to US$10 million to lower carrying costs, currently drawing US$7 million. Additionally, GoldMining holds approximately C$78.4 million in cash and marketable securities, bolstered by over 21 million shares of Gold Royalty Corp. and nearly 6 million shares of NevGold Corp.

GoldMining has announced positive assay results from the LME1111 drill hole at its La Garrucha target in Colombia. The results include significant intersections, such as 251.46 m averaging 0.60 g/t Au and 0.08% Cu. The drilling program has extended the mineralized porphyry system, now measuring over 400 m in strike length and 300 m in width, with mineralization reaching depths of approximately 775 m. An updated mineral resource estimate for the La Mina Project is expected in Q4 2022, with plans for a Preliminary Economic Assessment in 2023.

GoldMining has reported significant assay results from its 2022 drilling program at the La Garrucha target, expanding the gold-copper porphyry mineralization. The findings indicate a system that is now at least 400 m wide and extends 775 m below the surface. A key intercept from LME1108 revealed 431.23 m at 0.55 g/t Au and 0.12% Cu. The results will be pivotal for an updated mineral resource estimate expected in late 2022. CEO Alastair Still highlighted the team's successful execution of the program within budget, while VP Tim Smith noted the potential for wider exploration targets.

GoldMining has finalized an option grant on its Almaden Project in Idaho to NevGold Corp., receiving C$3 million through the issuance of 4,444,444 shares from NevGold. Under the agreement, NevGold must pay an additional C$6 million between January 2023 and January 2024 and complete C$2.25 million in project expenditures. Additionally, GoldMining invested C$1 million for 1,481,481 NevGold shares and holds a 10.53% stake in NevGold. The companies have entered into an investor rights agreement that grants certain anti-dilution rights and board nomination rights.

GoldMining announced positive initial assay results from its ongoing drilling program at the La Garrucha target in Antioquia, Colombia, part of the La Mina project. The initial assays from drill holes LME1107 and LME1108 indicate significant mineralization, with LME1107 showing 207.95 m at 0.62 g/t AuEq and LME1108 reporting 345.54 m at 0.74 g/t AuEq. The drilling confirms the extension of porphyry-style mineralization, suggesting further resource potential. The project aims to enhance the company's gold and copper portfolio across the Americas.

GoldMining Inc. has announced the formation of a Board of Directors for its subsidiary, U.S. GoldMining Inc., aimed at advancing the Whistler Gold-Copper Project in Alaska. The board comprises six members, including CEO Alastair Still and former CEO Garnet Dawson. The independent directors bring extensive experience from various sectors within the mining and resource industries. The Whistler Project boasts significant mineral resources, including 3.0 million ounces of indicated gold equivalent and 6.5 million ounces of inferred gold equivalent. This move supports U.S. GoldMining's goal of establishing itself as a standalone entity.

GoldMining Inc. (NYSE: GLDG) held its annual general and special meeting on May 19, 2022, where all six nominees proposed by management were elected as directors. A quorum of 34.46% of outstanding shares was present. Election results showed strong support for nominees, with votes ranging from 74.89% to 98.95% in favor. Additionally, shareholders approved the appointment of PricewaterhouseCoopers as auditor, the unallocated options under the Stock Option Plan, and amendments to the Stock Option Plan. Detailed voting results are accessible on SEDAR.