GoldMining reports $185M in cash and securities, no debt

GoldMining Inc. (NYSE American: GLDG) issued a mid-year shareholder update on June 25, 2026, reporting approximately $185 million in cash and publicly traded securities with no debt, compared to a market capitalization of $191 million as of June 24, 2026.

The company released two preliminary economic assessments (PEAs) in the first half of 2026. The São Jorge Project in Pará state, Brazil, received a conceptual post-tax net present value at a 5% discount rate (NPV5%) of $532 million, with an initial capital requirement of $202 million, including a 25% contingency. The La Mina Project in Colombia received a conceptual NPV5% of $1.0 billion with a projected 2.7-year payback period.

GoldMining's 74%-owned subsidiary, U.S. GoldMining Inc., separately released a PEA on its Whistler Gold-Copper Project in Alaska with a conceptual NPV5% of $2.0 billion.

The company reported a global resource base of 13.1 million gold equivalent ounces in the measured and indicated categories, and 9.0 million ounces in the inferred category.

Three drill rigs are currently operating across projects in Brazil and Colombia, with additional drills mobilizing in Alaska through U.S. GoldMining. The company stated it is advancing toward pre-feasibility and permitting at São Jorge and continuing a 1,200-metre drill program at the Yarumalito project in Colombia.

GoldMining noted that the PEAs are preliminary in nature and that there is no certainty the results will be realized. The assessments include inferred mineral resources, which are considered too speculative to be categorized as mineral reserves.

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