CA - GoldMining Inc.: Recent Ounce Additions Overshadowed By Uncertainty

Summary

• GoldMining Inc. was one of the best-performing gold developers in 2022, declining just 5% vs. a 15% decline in the Gold Juniors Index.
• This outperformance may be related to it being the first year of solid results across its portfolio, with a PEA completed at La Mina and PEA work underway at other projects.
• However, while the advancement of its La Mina Project and recently added ounces are positives, the negative is that permitting the project may be more difficult under the new government.
• Given the fact that this looks to be a best-case 2027 production (assuming permitting success) and I see further risk of share dilution, I continue to see far more attractive ways to play the sector.

For further details see: