CA - GoldMining Inc. triples inferred gold equivalent estimate at Colombia project

GoldMining Inc. ( NYSE: GLDG ) said Monday it tripled its gold equivalent inferred resource estimate at the La mina project in Colombia to 1.45M gold equivalent oz following the discovery of the La Garrucha deposit.

The company said the discovery adds more than 1M gold equivalent oz of estimated inferred resources and 200K0 gold equivalent oz of estimated indicated resources to an "already robust" mineral resource estimate on its La Mina project.

"With all-inclusive direct drilling costs by the company at La Garrucha of under US$1.2M for our recent program, this discovery was made at a very efficient cost per ounce of estimated resource and exemplifies our strategy and progress of unlocking value from our portfolio," the company said.

GoldMining Inc. ( GLDG ) is "becoming a value trap" and "it could be best for risk-averse investors to avoid its stock," Gold Panda writes in an analysis posted on Seeking Alpha .

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