Categories: Precious Metals
Topics: General Precious Metals

GoldMining Inc. (TSX: GOLD)(NYSE: GLDG) CEO Alastair Still on Maximizing Record High Gold Prices

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of Gold Mining Inc. Mr. Alastair Still. Alastair, how are you today?

Alistair Still: I am doing excellent, Gerardo. Happy to be here on the call here today.

Gerardo Del Real: Well, listen, thanks for coming on. I know you've been on the road. We have record high gold prices. We have a copper price that I think we will get there soon, and yet the equities are still trading as if gold was around the 1,300 level. So I thought I'd have you on because gold mining used the bear market in the gold price to add ounces for pennies on the dollar, and I thought the update was timely. I know you've been on the road. First and foremost, how are the travels? What's the sentiment out there?

Alistair Still: Well, it's been a busy while, but it's very encouraging to hear. There are still a lot of supporters out there, and I think more than ever we're starting to see such a compelling story for the company being undervalued.

Now, of course, every company will say they're undervalued, but the compelling backup here with the strength we've put onto our cash and equities on the balance sheet side of things by crystallizing things such as Gold Royalty and U.S. GoldMining and NevGold, really positions us better than ever to benefit from these rising gold prices.

You're absolutely right. The time of this recording today, we've touched on $2,200 per ounce gold, all-time highs. The gold equities haven't caught on fire yet, but I think once they do, watch out. I think things could take off and move very quickly. We've seen how that's happened in the past with the gold price and gold mining stocks, especially companies like GoldMining Inc. who have done exceptionally well because that leveraged the price of gold, that is setting up for a good rally here.

We've seen how it quickly can move in the uranium space and over the last year, how quickly it can move when the price took off. So GoldMining Inc. is certainly set up for that rally. On top of that, we also have this bonus optionality of having a uranium property to boot. So not just the exposure of the gold, not just the exposure of the copper with those gold projects, but also a strong uranium project in the Athabasca Basin as well.

Gerardo Del Real: You've been busy, Alistair. Clearly a lot of it has been behind the scenes. Can you walk me through what the next several quarters look like? I think again, I think 2024 is going to be a pretty critical one in regards to the commodities and the prices and what they do and the equities will follow. But can you just for those not familiar with the story, can you lay out the next couple of quarters for gold mining?

Alistair Still: Yeah, absolutely. I mean, this is no longer a story of just a portfolio of assets waiting for the gold price to move. We've historically performed very well when the gold price has moved, and we still have that leverage to the price of gold, which is great. But we also now have a track record of unlocking value from our portfolio.

We're continuing to do that so that we can create real and tangible value and to give a few examples of work that's ongoing, of course, we have spun out and created U.S. GoldMining. We own 80% of that company. That team is getting ready to drill again this summer. There's no dilution dust for that work. We don't have to fund it, but with an 80% exposure, we get great upside from exploration success on a gold and copper project right in the USA. And that's exactly what the big companies are looking for.

I would point out that although we had record drill results on U.S. GoldMining and our 80% interest in that, that came out in January, it was not a big market event, but the phone did start ringing. The bigger companies who are looking for projects to deplete their empty pipelines, they're absolutely looking for projects like that. It's a great sign that that still is active. A lot of meetings we've had over the last few weeks related to that, setting up site visits, et cetera. So that's strong.

The uranium property, our Rea projects, which is in Alberta side of the Athabasca Basin, we're developing our field-based program for that, starting the stakeholder engagement plan and permitting. So stay tuned for updates on that. And really that's a project that we'll start the work, we'll start moving it along, but I don't think that's going to last long.

In this market, for uranium, that's a real wild card bonus, optional play to uranium within a gold-based company. A tremendous opportunity there for us to recognize value. And the third project I'd like to touch on is of course, our São Jorge project in Brazil, a good solid open pittable resource. It's got access to a paved highway. It's got access to a power line built by the nearby operations at Tocantinzinho that G Mining is building and tremendous exploration opportunity there.

We see several kilometers along strike untested. We've done some soil geochemical work and some auger sampling. We're seeing a very large anomaly, which really is giving us the strength and the belief that it's not just the existing resource causing that anomaly, but we could have a much bigger regional-based system there. So very exciting on that front. Stay tuned for news on our exploration programs at San Jorge in Brazil as well.

Gerardo Del Real: A lot to like on both on the macro side of things and specifically with GoldMining. Alistair, thanks for taking time again. I know you just got back from traveling and I know how taxing that can be, so thank you again.

Alistair Still: No, absolutely. Exciting times. The gold price really I think is a catalyst here and I think it's go time for us right now. We're super excited by the projects. The gold price is putting some wind in our sails and stay tuned for the next update. There should be some exciting times ahead.

Gerardo Del Real: Nothing like go time. Thanks again, sir.

Alistair Still: You bet. Have a great one.

Gerardo Del Real: All right, chat soon.