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GoldMining Inc. (TSX: GOLD)(NYSE: GLDG) CEO Alastair Still on Start of Drilling at La Mina Gold-Copper Project, Colombia, as Metal Prices Move Higher
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, how are you?
Alastair Still: I'm doing great, Gerardo. It's great to be here with you again today.
Gerardo Del Real: It's great to have you back on. What a difference a month makes. Gold is flirting with US$2,000 again. The juniors and the gold-related equities are showing some life. GoldMining, as always, has been busy.
You just appointed Tim Smith as vice president of exploration. You've also commenced exploration drilling on the La Mina project in Colombia. That's a milestone for GoldMining, Inc. I'd love a brief overview of what you've been up to and what comes next.
Alastair Still: Absolutely. Two very important announcements for us. The first I'll deal with is the appointment of Tim Smith as vice president of exploration. And Tim will also be the CEO of our new, wholly-owned subsidiary U.S. GoldMining Inc. And that's especially important because Tim can help us focus and will lead the U.S. GoldMining Inc. as we grow our homegrown talent in Alaska. We've got our exciting Whistler gold-copper project there, which hasn't been drilled in almost 5 to 10 years now.
It's great to have an experienced geologist like Tim. He's put in approaching 30 years of experience internationally. He's had great experience in the North. He's part of a team that led to a major 5 million ounce discovery for Kaminak, the Coffee Project, which was acquired by Goldcorp for over C$500 million in 2016.
He's just come off an exciting opportunity at Newmont. And I've known Tim for many years; I've worked with him at Newmont and at Goldcorp. He's an exceptional person, a great geologist. I'm very excited to have him on the team helping lead the way on our Whistler project in Alaska as we get that subsidiary U.S. GoldMining Inc. ready to roll here.
Gerardo Del Real: Very, very important announcement; a great appointment. Obviously, the track record speaks for itself. Got to talk La Mina; have to talk Colombia; got to be excited for exploration drilling. I know that, for a bit, I used to tease several of the GoldMining Inc. execs about the fact that I tend to gravitate towards companies that have a lot of drills turning. And the feedback and the pushback I always got was so valid. And that was, if we can buy ounces in the ground for cheaper than we can discover them, it's up to us to take care of shareholder capital and do so.
The company has done a brilliant job of that, positioning its portfolio for this next leg up. But I am happy to see exploration drilling commencing at La Mina. Tell me about that, Alastair.
Alastair Still: You're absolutely right. It's a very exciting time for us. I think Amir and his team over the past 10-plus years have done an exceptional job assembling this portfolio. And really, this is now about a stage of unlocking value.
And you're right, in times of downturn, they've been very astute purchases, very timely purchases, good value-buys when we could have bought ounces for less than we could drill them. But I think we're in an exceptional circumstance now where we have a really strong target at La Mina called La Garrucha. It's less than one kilometer from the existing resources.
We just announced a PEA on La Mina earlier this year. So if we can add resources there with a simple drill program, bring them into that mine plan, that will be adding real and tangible value to our shareholders on the PEA and the studies at La Mina.
And I think this will be a fantastic opportunity, a perfect opportunity to start drilling. Tim Smith can come in and help lead the program. But we've got it queued up; the drills are turning. I actually was down there, just myself, two weeks ago, inspecting the team and the setup there. We're ready to go; everyone's excited. I can't wait to share the results of that drilling once we get into it.
Gerardo Del Real: Looking forward to it. Before I let you go, I have to ask you, you've seen multiple bull and bear gold cycles. How are you feeling about the current price of gold and where do you think it heads?
Alastair Still: Well, I have to say, I'm starting to get myself ready for the long haul here because I think we're just at the beginning of this. I think the fundamentals are still very strong. I see a lot of runway for increased price in the gold and precious metals and even the base metals still have room to go. So I think we're in for a long and steady run here.
And I think, as a company, we've now built up our technical team. We've got our projects ready. We're really ready to capture this bull market. The price of metals is great. The strength of our projects couldn't look better. It's a very exciting time all around for GoldMining Inc.
Gerardo Del Real: Looking forward to having you back on. Looking forward to an exciting rest of the year and really looking forward to those results from La Mina. Thanks so much for coming on. Can't wait to chat again.
Alastair Still: Always a pleasure, Gerardo, and look forward to speaking again in the very near future.
Gerardo Del Real: Alright, chat soon. Bye now.
Alastair Still: Bye for now.