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Share Name | Share Symbol | Market | Type |
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Goldmining (delisted) | TSXV:GOLD | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
Highlights:
VANCOUVER, BC, June 24, 2020 /CNW/ - GoldMining Inc. (the "Company" or "GoldMining") (TSX: GOLD) (OTCQX: GLDLF) is pleased to announce today the creation of Gold Royalty Corp. ("GRC"), a newly incorporated wholly owned subsidiary, that will hold 14 newly created net smelter return ("NSR") royalties on its extensive gold-focused asset portfolio in the Americas.
Amir Adnani, Chairman, commented: "Following a decade-long effort since forming the Company to assemble an extensive portfolio of gold projects in mining friendly jurisdictions in North and South America, we believe that the timing is right to create this royalty entity, which imparts an additional, and non-dilutive layer, of value to existing shareholders. Over the long-term, we intend to explore potential value-enhancing transactions for Gold Royalty Corp., including a potential spin-off, initial public offering, sale, merger or other transactions that may increase shareholder value."
Garnet Dawson, CEO, commented: "GoldMining's focus remains on our two-pronged strategy of expanding our property portfolio through accretive transactions of resource stage gold projects and their advancement towards development. We believe Gold Royalty Corp. will be a complementary platform to GoldMining's future acquisition and development plans."
GRC's royalty portfolio is expected to comprise of 0.5% to 2.0% NSR royalties on the Company's interest in 14 existing projects with the opportunity to expand the royalty portfolio through the Company's buy-back rights on existing NSR royalties ranging from 0.5% to 2% held by third-parties on up to 5 of the 14 projects (Table 1).
Table 1: GRC Royalty Portfolio
Project | Country | Area | Ownership | Gold Equivalent Ounces1 | Intended GRC Royalty2 | Comment | ||
Measured & Indicated | Inferred | |||||||
Ha | ||||||||
Whistler | USA | 17,159 | 100% | 2,797,000 | 6,731,000 |
|
| |
Almaden | USA | 1,724 | 100% | 910,000 | 160,000 |
|
| |
Yellowknife | Canada | 12,120 | 100% | 1,059,000 | 739,000 |
|
| |
Titiribi | Colombia | 3,919 | 100% | 6,220,000 | 3,440,000 |
|
| |
La Mina | Colombia | 3,200 | 100% | 1,013,000 | 427,000 |
|
| |
Yarumalito | Colombia | 1,453 | 100% | - | 1,502,000 |
|
| |
Cachoeira | Brazil | 4,742 | 100% | 692,000 | 538,000 |
|
| |
Sao Jorge | Brazil | 45,997 | 100% | 715,000 | 1,035,000 |
|
| |
Surubim | Brazil | 14,611 | 100% | - | 503,000 |
|
| |
Boa Vista | Brazil | 12,888 | 84% | - | 336,000 |
|
| |
Batistao | Brazil | 5,108 | 100% | - | - |
|
| |
Montes Aureos | Brazil | 2,000 | 51% | - | - |
|
| |
Trinta | Brazil | 9,568 | 51% | - | - |
|
| |
Crucero | Peru | 4,600 | 100% | 993,000 | 1,147,000 |
|
|
1 | Further details regarding individual resource estimates, including metal equivalents, are shown in Table 2. |
2 | Option to purchase existing third-party royalties on individual projects are detailed in their respective technical report. |
Qualified Persons
Paulo Pereira, President of GoldMining Inc. has reviewed and approved the technical information contained in this news release. Mr. Pereira holds a Bachelors degree in Geology from Universidade do Amazonas in Brazil, is a Qualified Person as defined in NI 43-101 and is a member of the Association of Professional Geoscientists of Ontario.
About GoldMining Inc.
GoldMining Inc. is a public mineral exploration company focused on the acquisition and development of gold assets in the Americas. Through its disciplined acquisition strategy, GoldMining now controls a diversified portfolio of resource-stage gold and gold-copper projects and royalties in Canada, U.S.A., Brazil, Colombia and Peru. Additionally, GoldMining owns a 75% interest in the Rea Uranium Project, located in the Western Athabasca Basin of Alberta, Canada.
Table 2: GoldMining's Aggregated Mineral Resource Statement across all its Projects1,2,3.
Deposit | Cut-off4 (g/t) | Tonnage (Mt) | Grade | Contained Metal | ||||||
Gold (g/t) | Silver (g/t) | Copper (%) | Gold Eq (g/t) | Gold (Moz) | Silver (Moz) | Copper (Mlbs) | Gold Eq (Moz) | |||
Measured Resources | ||||||||||
Titiribi5 | 0.3 | 51.600 | 0.49 | - | 0.17 | 0.78 | 0.820 | - | 195.1 | 1.290 |
Yellowknife13 | 0.5/1.5 | 1.176 | 2.10 | - | - | 2.10 | 0.080 | - | - | 0.080 |
Total | 0.900 | - | 195.1 | 1.370 | ||||||
Indicated Resources | ||||||||||
Titiribi5 | 0.3 | 234.200 | 0.51 | - | 0.09 | 0.65 | 3.820 | - | 459.3 | 4.930 |
Sao Jorge6 | 0.3 | 14.420 | 1.54 | - | - | 1.54 | 0.715 | - | - | 0.715 |
Cachoeira7 | 0.35 | 17.470 | 1.23 | - | - | 1.23 | 0.692 | - | - | 0.692 |
Whistler8 | 0.3 | 110.280 | 0.50 | 1.76 | 0.14 | 0.79 | 1.765 | 6.130 | 343.1 | 2.797 |
La Mina9 | 0.25 | 28.170 | 0.74 | 1.77 | 0.24 | 1.12 | 0.667 | 1.607 | 150.2 | 1.013 |
Crucero12 | 0.4 | 30.653 | 1.00 | - | - | 1.00 | 0.993 | - | - | 0.993 |
Yellowknife13 | 0.5/1.5 | 12.933 | 2.35 | - | - | 2.35 | 0.979 | - | - | 0.979 |
Almaden | 0.3 | 43.370 | 0.65 | - | - | 0.65 | 0.910 | - | - | 0.910 |
Total | 10.540 | 7.737 | 952.7 | 12.969 | ||||||
Measured and Indicated Resources | ||||||||||
Total | 11.440 | 7.737 | 1,147.8 | 14.339 | ||||||
Inferred Resources | ||||||||||
Titiribi5 | 0.3 | 207.900 | 0.49 | - | 0.02 | 0.51 | 3.260 | - | 77.9 | 3.440 |
Sao Jorge6 | 0.3 | 28.190 | 1.14 | - | - | 1.14 | 1.035 | - | - | 1.035 |
Cachoeira7 | 0.35 | 15.667 | 1.07 | - | - | 1.07 | 0.538 | - | - | 0.538 |
Whistler8 | 0.3/0.6 | 311.260 | 0.47 | 2.26 | 0.11 | 0.68 | 4.626 | 22.617 | 713.5 | 6.731 |
La Mina9 | 0.25 | 12.394 | 0.65 | 1.75 | 0.27 | 1.07 | 0.260 | 0.697 | 73.3 | 0.427 |
Boa Vista10 | 0.5 | 8.470 | 1.23 | - | - | 1.23 | 0.336 | - | - | 0.336 |
Surubim11 | 0.3 | 19.440 | 0.81 | - | - | 0.81 | 0.503 | - | - | 0.503 |
Crucero12 | 0.4 | 35.779 | 1.00 | - | - | 1.00 | 1.147 | - | - | 1.147 |
Yellowknife13 | 0.5/1.5 | 9.302 | 2.47 | - | - | - | 0.739 | - | - | 0.739 |
Yarumalito14 | 0.5 | 66.271 | 0.58 | - | 0.09 | 0.70 | 1.230 | - | 129.3 | 1.502 |
Almaden | 0.3 | 9.150 | 0.56 | - | - | 0.56 | 0.160 | - | - | 0.160 |
Total | 13.840 | 23.311 | 993.9 | 16.558 |
Table 2 Notes:
The above aggregated resource statement is provided for information purposes only. Investors should refer to the underlying technical reports referenced above for project-specific factors relating to each resource estimate.
Forward-looking Statements
This document contains certain forward-looking statements that reflect the current views and/or expectations of GoldMining with respect to its business and future events, including expectations and future plans respecting each of GoldMining's and GRC, business plans and strategies, including expectations and plans regarding future acquisitions and value-enhancing transactions, and resource estimates. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which GoldMining including GRC, operates. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including: the ability of the Company to identify and execute additional transactions, including any potential spin-off, sale or merger, on acceptable terms or at all, the ability of the Company to realize or enhance value through its GRC strategy as envisioned, the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other exploration data, the potential for delays in exploration or development activities, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with expectations, accidents, equipment breakdowns, title and permitting matters, labour disputes or other unanticipated difficulties with or interruptions in operations, fluctuating metal prices, unanticipated costs and expenses, and uncertainties relating to the availability and costs of financing needed in the future. These risks, as well as others, including those set forth in GoldMiningꞌs Annual Information Form for the year ended November 30, 2019, management's discussion and analysis for the three months ended February 29, 2020 and other filings with Canadian securities regulators, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward looking information, will prove to be accurate. GoldMining does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
View original content:http://www.prnewswire.com/news-releases/goldmining-announces-creation-of-gold-royalty-corp-a-new-gold-focused-royalty-company-301082551.html
SOURCE GoldMining Inc.
Copyright 2020 Canada NewsWire
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