General Precious Metals
GoldMining Inc. (TSX: GOLD)(NYSE-American: GLDG) CEO Alastair Still and VP Exploration Tim Smith on Unlocking Value Via the Drill-Bit on 32 Million Gold Equivalent Ounces Across the Americas
Gerardo Del Real: This is Gerardo Del Real with Digest Publishing here at the 2022 Beaver Creek Precious Metal Summit. Joining me today is the CEO of GoldMining Inc., Mr. Alastair Still, and the VP of Exploration of GoldMining Inc, Mr. Tim Smith. Gentlemen, how are you today?
Tim Smith: Great.
Alastair Still: Yeah, great to be here again. Thanks for having us, Gerardo.
Gerardo Del Real: The timing is excellent. You had some spectacular news this morning out of Colombia. I believe you drilled into something like 431 meters of 0.73 grams per tonne gold equivalent. Is that accurate?
Tim Smith: Spot on.
Alastair Still: That's exactly right, and I think it's an exciting time because I think back to a year ago when we were chatting here, Gerardo, and we were talking about all the catalysts that were coming up for GoldMining Inc. And it's so refreshing a year later to be able to update people on those things.
And of course, the drilling in Colombia at our La Mina project is very exciting. It's our first drill program. We've completed that now. We announced those very exciting results this morning. That's building upon a mineralized porphyry system, which we think can grow into a new resource. We're going to start that resource work later this year.
We still have one more hole to release; we're excited about that hole. That should come out in the next week or two. We've also announced plans to have a new joint venture partner on our project in Idaho with Almaden Resources. We crystallized good value there.
And the big news — and Tim can provide further information on this too — is we've taken the exciting step of taking our Whistler Project in Alaska, and we're preparing that into a new company called US GoldMining Inc. Very excited about that, and very excited to be ready to launch that publicly.
Gerardo Del Real: Tim, I know that's a project you absolutely love. And I want to talk about why. But I have to commend the team at GoldMining because if there was ever a criticism from me about the company, it was that the company was amazing at executing and buying ounces for pennies on the dollar — far cheaper than you could discover them. And I think Amir and the team at GoldMining did a brilliant job of executing that during a brutal bear market. You now have a resource base that, on a peer-to-peer basis in the junior space, is not really matched, right?
Alastair Still: Exactly.
Gerardo Del Real: But the one critique that I always had was, when are we going to see if these deposits can grow… when are we going to see studies around economics and potential economics? And I have to give it to you gentlemen, this 2022 has been, I think, the busiest year with the drill bit for GoldMining. And it sounds like, Tim, 2023 might surpass it.
Tim Smith: We've got big plans going forward for sure. We're moving into harvest mode here. Amazing portfolio across the Americas. And yes, to go back to Whistler, especially excited about Whistler. We see the spinout of US GoldMining, as we announced back in February, as a great way to unlock value on that particular asset.
It's a big porphyry just 100 miles northwest of Anchorage. It's the closest big project to Anchorage. And one of the major catalysts there is that the government has started funding a study into a roads resources program. So that's going to lead us into that project and help us catalyze the advancement of that project going forward.
Gerardo Del Real: You've mentioned big plans for 2023. Alastair, how do you see it shaping up?
Alastair Still: Well, I think 2023 really builds upon what we've done in 2022. I think we've done a few key steps. And as you say, we've got this great foundational base of resources picked up for basically pennies on the dollar, very opportune moments, and now it's about unlocking value in that portfolio.
That's exactly what we're going to do going forward. US GoldMining Inc. and Whistler play a big piece of that, so stay tuned this fall that will build upon a launch as we go into 2023 for major activities on the project. We're going to continue on our studies.
This drilling we've announced this morning at La Mina — very exciting results — that builds upon a new resource. That will lead into an update of the PEA. We started our first PEA on La Mina earlier this year, and it showed very good economics; C$340 million NAV; good solid returns. And now, we're growing that so we'll see developments on that.
And of course, keep an eye out for more on the JVs. We really like the model of some of our non-core assets; finding someone who can do work on them and advance those projects along. And again, part of that strategy, we want to keep delivering value from this extensive portfolio in the Americas.
Gerardo Del Real: Firing on all fronts, ladies and gentlemen. Tim, Alastair, thank you very much.
Alastair Still: Pleasure to be here. Thanks, Gerardo.
Tim Smith: Thanks.Click here to see more from GoldMining Inc.