Mike Fagan,
Editor
March 9, 2022
GoldMining Inc. (TSX: GOLD)(NYSE-American: GLDG) — currently trading around C$2.40 per share — has created a new subsidiary, U.S. GoldMining Inc., which will focus on advancing the company’s Whistler gold-copper project located northwest of Anchorage, Alaska.
The company’s board is putting in motion a strategy to list U.S. GoldMining as a separate public company via IPO — a process that will likely be completed in the next 4 to 6 months. The new subsidiary will have a dedicated team and an experienced board of directors to advance the Whistler project — which will become the flagship asset of the new entity.
GoldMining Inc. acquired the 170 sq km Whistler project back in 2015 when the price of gold was around US$1,000 per ounce. It’s now almost double that at US$1,990 an ounce, which makes the exploration project’s economics all the more robust.
And the same holds true for the company’s 10 other gold-focused exploration assets across the Americas — an impressive portfolio that now stands at a combined 32 million gold equivalent ounces across all categories.
GoldMining CEO, Alastair Still — whom you’re about to hear from directly via our exclusive interview — commented by press release:
“By any standard, Whistler is a large project, with indicated resources of 3.0 million gold equivalent ounces and inferred resources of 6.5 million gold equivalent ounces covering an expansive regional land package. A base camp and gravel airstrip is established for field programs. The last time Whistler saw drilling activity was almost a decade ago, which creates the opportunity to apply new regional geologic models and technical findings by GoldMining and neighboring companies to unlock value for Whistler, by a dedicated team following best practices with a dedication to safety, the environment and sustainable development for local communities.”
The GoldMining team sees the current market climate — characterized by strength in gold-copper-silver — as optimal for unlocking substantial value by creating U.S. GoldMining without diluting GoldMining’s capital structure.
The team has a recent, very successful analog in that arena with last year’s IPO of Gold Royalty Corp. (NYSE-American: GROY). In just one year, GROY has rapidly ascended to now represent nearly C$100 million in equity holdings along with paying a quarterly dividend.
It’s exciting to see the GoldMining team executing a similar strategy with the Whistler gold-copper exploration project, which our own Gerardo Del Real discusses in detail with GoldMining Inc. CEO, Alastair Still. Enjoy!
Yours in profits,
Mike Fagan
Editor, Resource Stock Digest
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