$GOLD.TO

GoldMining Edging Up In US Premarket As Starts Exploration Drilling Program at Yarumalito Gold-Copper Project

GoldMining (GOLD.TO) has commenced an exploration-focused core drilling program on its Yarumalito gold-copper project in Colombia, the company said on Tuesday.The fully funded, 1,200-meter drill program will follow up on high priority targets previously identified through comprehensive relogging of historical core, it added, while the company is also testing new zones of potential bedrock mineralization in under-drilled portions of the P-1 porphyry unit, the principal host of gold-copper mineralization at Yarumalito."This large, highly accessible gold-copper porphyry system remains open in all directions and the targeted drill program is our first step in seeking to unlock the substantial step-out growth potential of the mineralized P-1 host unit," said Alastair Still, president and chief executive officer of GoldMining.Its shares rose 2.6% in Canada yesterday.

GoldMining Commencing 2026 Exploration Drilling Program at its Yarumalito Gold-Copper Project, Colombia

GoldMining Up 0.4% In US Premarket As Updated Study Shows "Enhanced" Value of La Mina Project in Colombia

An updated preliminary economic assessment "enhanced" value of the La Mina project in Colombia compared to the previous study, GoldMining (GOLD.TO and NYSE American: GLDG) said Tuesday.Shares in Goldmining have turned positive and were at last look up 0.4% in US premarket trade.The updated PEA incorporates current bench-marked costs and updated base case pricing of US$3,500 /oz gold (Au), $4.70/lb copper (Cu) and $40/oz silver (Ag), resulting in a 265% increase in after-tax net present value at 5% discount rate from the prior PEA disclosed by the company for the project, it said.The study generated an after-tax net present value (NPV) of US$1.0 billion, with a 32.2% internal rate of return (IRR) and a 2.7-year initial payback period, it added.Among other highlights, at current spot prices of about $4,775/oz of gold, $5.75/lb of copper and $77/oz of silver, the NPV increases to $1.8 billion with an IRR of 49.1% and initial payback of 1.9 years; initial capital expenditures are estimated at $523 million, representing an attractive 0.5x initial capital to base case NPV5% ratio that highlights the project's "potential for a compelling return on investment"; and average annual production of 152.4 koz Au equivalent over the first five years of operation, and total life of mine production of 1.5 Moz AuEq (comprising 1.2 Moz Au, 2.6 Moz Ag, and 195 Mlbs Cu) over an 11.2 year projected mine life."With these solid base case economics, which improve substantially at spot prices, the company is excited by the opportunity to further advance and de-risk the project on the path towards potential future development," Chief Executive Officer Alastair Still said.

GoldMining Announcing Updated PEA Highlighting US$1B After-Tax NPV and 32% IRR at La Mina Project, Colombia