Categories: General Market Commentary / Precious Metals
Topics: General Market Commentary / General Precious Metals

GoldMining Inc. Lands Another Haymaker

GoldMining, Inc. (TSX:GOLD)(OTC:GLDLF) seized on a down-market for gold by assembling an impressive portfolio of advanced projects encompassing 25.2 million gold ounces across multiple continents, including some of the world’s safest mining jurisdictions.

This extraordinarily well-run junior miner, which we’ve been following and reporting on since November 2019, was essentially put together for the sole purpose of exploiting gold’s temporary downturn knowing the cycle would eventually turn to their favor… which it now has!

The company is reaping the rewards of its labor with gold now breaking above $2,000 per ounce, a key psychological resistance level, for the first time in history. 

As you can see from the chart below, GoldMining’s value has doubled from C$1/share in mid-March to above C$2/share currently. Shares are presently consolidating in that $2 per share range and appear poised for yet another substantial breakout on gold’s continued strength. 

Last Friday, Haywood Capital Markets released a “Haymaker” recommendation report on GoldMining, Inc., stating: 

  • GOLD boasts a massive global resource of ~25.2Moz Au, of which 45% is classified as Measured and/or Indicated.  While GOLD’s projects are at various stages of development, 11 of 14 have an established modern compliant resource.  
  • GOLD recently announced the creation of wholly-owned subsidiary “Gold Royalty Corp” where it will carve out royalty streams on each of its 14 projects (NSRs ranging from 0.5% to 2%). By establishing this NSR vehicle, GOLD is taking the first step in positioning its portfolio to enhance returns to investors as royalty streaming companies tend to trade at substantial premiums to their respective NAVs.
  • GOLD trades at US$7.18/oz Au on an EV/oz metric representing a significant discount to peers at US$33/oz Au.  Furthermore, investors could potentially benefit from a potential ‘spin-out’ royalty company, giving additional value to the stock.
  • The company currently has ~C$8.6M in cash and no debt on its balance sheet, positioning them well for continued execution on its acquisition strategy and other growth initiatives.

And, as we’ve been saying all along, GoldMining’s management team is one of its key strengths. 

The company is led by Amir Adnani who also co-founded another of our featured companies, Uranium Energy Corp., and has been distinguished by Fortune as one of their “40 Under 40, Ones to Watch” North American executives. 

You can access our most recent interview with Amir Adnani here. 

And click here to see how we’re positioning for additional 10-baggers in this gold bull market. 

Yours in profits,
 
Mike Fagan
Editor, Resource Stock Digest

Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers.