GoldMining Inc. (TSX: GOLD)(NYSE: GLDG) CEO Alastair Still on Advancing 32 Million Ounces of Gold Projects and Unlocking Shareholder Value

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of GoldMining Inc., Mr. Alastair Still. Alastair, it is great to have you back on. How have you been?

Alastair Still: It's great to be on too. Thanks, Gerardo, for inviting me. It's been very exciting times for GoldMining. It's just about a year since I've joined the company and some of the opportunities and projects that excited me to join the company have gotten even more exciting now as we start to analyze them further and start to look at ways to continue to unlock value within this tremendous portfolio at GoldMining.

Gerardo Del Real: I think your timing was perfect, and let me explain why and provide some context on that. We've been in what we can call a consolidation in the gold space since right around the time that you joined. And all you've done since coming onboard is start unlocking value at multiple projects. And I want to get into a lot of the recent updates.

You're advancing multiple PEAs, you're advancing multiple mineral resource estimates, you're sampling some of your key projects and finding out new things there. And oh, by the way, a little known secret, you also have a uranium project that, if I know you and Amir and the leadership there, you'll probably find a pretty great avenue to unlock value for shareholders there.

That's a lot right there. I'll let you provide the context on the order of things and how you've been able to come into this situation and position the company and the shareholders for the next leg up, which I think, look, we're in the midst of tax loss selling season, we have a little bit left, but man, I think 2022 is going to be one for the books in the gold space.

Alastair Still: Absolutely. There's no better time to be a shareholder of GoldMining, and it's an exciting time. There's a lot of fronts to cover there, so I'll try and tackle them, but when I think one of the ones that really demonstrates how we've crystallized value already is, of course, when we launched earlier this year and created Gold Royalty Corp. We can't underestimate what we have there. And GoldMining owns 20 million shares in that company, which is now a growing consolidator in the space. It's done significant transactions to acquire Ely Gold Royalties, has just done a transaction to acquire Abitibi Royalties and Golden Valley.

So it's a growing force and gaining in value. And those 20 million shares were super important to us because they've now allowed us to help secure financing. We have a BMO facility. So we have 20 million in cash U.S. available to us to advance our projects. That sort of leads into the next stage of taking this tremendous portfolio that Amir and his team have built up over almost 10 years, accumulated a great wealth of resources, some 16 million measured-indicated gold equivalent ounces, another 16 million inferred gold equivalent ounces. Now we're starting to focus on unlocking that value.

Gerardo Del Real: That's a lot of gold ounces. Yeah.

Alastair Still: Yeah. Absolutely. And of course, the Gold Royalty piece was important, but now we're really into our own projects. And as we updated over the summer, our investors will know and our stakeholders will know we did create brand new resource estimates on material projects in our portfolio, representing about 75% of the gold equivalent ounces in the portfolio. So it's significant to get those resources updated and fresh and modern.

And since then, we've launched on a number of important PEA studies. And investors will have seen we've announced some exciting results on our San George project in Brazil, a great project, close to infrastructure, high-grade open-pit resource that we started a PEA on. And as we launched the PEA, we started to find exciting things we hadn't realized. And one of them was this low-hanging fruit of what appeared to be mineralization in some of the historic holes that had not been continuously examined.

We have released recently results from some of the infill sampling on historic holes. That's allowing us to create a better geological model, get a better handle on the resource to work on the PEA, but it also created some new targets and some new opportunities that we're going to now look at the next phase of doing some further infill drilling on. Some of these zones go right to surface. It's in saprolite. So there's some additional sampling we can do on material that's already there which will naturally by itself lead itself into prioritizing ranking on some additional targets, which we may move forward with our own new drilling programs coming the new year.

Gerardo Del Real: It’s a lot to like. It sounds like you're as excited for 2022 as I am. Is there anything else that you want to add to that, Alastair?

Alastair Still: Yeah. I guess just to say that the PEA on our La Mina project in Columbia is progressing well. We will have those results out in the next month, so in December. Excited about the progress there as we move towards getting that ready for completion and release.

But as you say, the other thing that sort of hidden in our portfolio is a little bit of a gem there. There is a significant uranium property in GoldMining. It's not core for us as a gold mining company, but having a significant land package in the highly prospective Athabasca Basin. It's a large land package. We've got a JV interest within that broader land package on a significant uranium resource. It's got a lot of attributes. And as you and your investors and readers and followers will know, the uranium space has been super hot, and there's a lot of companies that have been spun out into that area recently, chasing uranium. And that project we have Rea, it's just another gem within our portfolio waiting to be unleashed and unlocked for our shareholders.

Gerardo Del Real: Well I get the suspicion that we'll likely be talking about how you're going to unlock that value here sooner rather than later. That was a thorough update, Alastair. Thank you so much for your time.

Alastair Still: Always great to speak. Look forward to speaking again soon, Gerardo.

Gerardo Del Real: Sounds good. Be safe out there. Thank you.

Alastair Still: Yeah. Take care. Bye for now.

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