What factors are driving the increased appetite for gold these days?
The growing interest in gold can be attributed to a mix of economic turbulence and geopolitical uncertainty. These factors, coupled with rising inflation and declining reserves in the mining sector, not only make gold an attractive safe haven but also a vehicle for wealth creation and growth. Additionally, there's chatter about BRICS nations potentially backing their currency with gold, adding another layer of demand and upward pressure on its price.
Are there unorthodox uses for gold in the future that you anticipate?
Gold has always been a traditional store of value, but its potential in technology shouldn't be underestimated. The metal's unique properties could find applications in future technological needs, similar to how metals like silver are already being used for industrial and technological purposes. This creates new pathways for gold utilization that we may not even recognize yet.
Can you briefly describe what your company, Goldmining, does?
We are an exploration development company operating throughout the Americas, boasting a resource base of approximately 13.4 million gold equivalent ounces in Measured and Indicated categories and a further 9.9 million gold equivalent ounces in Inferred which combined with a strong team of industry professionals and a robust balance sheet, positions us as a unique player in the resource development industry. Our portfolio extends beyond gold to include significant amounts of copper and even a uranium exploration property in an established high-grade uranium district in Canada.
How do mining policies and environments differ between North and South America?
It's difficult to generalize as mining is a local issue within a global industry. Even within mining-friendly countries, the feasibility of projects often boils down to local conditions and community relationships. So, it's not just about broad national policies but rather how one engages at the grassroots or local level to make a project viable. Most countries within the Americas offer conducive environments, but the key is to engage early and often with local stakeholders to build strong relationships and local partnerships.
What sets Goldmining apart from other companies in the sector?
Our diverse portfolio of gold dominant assets within the Americas and a robust balance sheet sets us apart.
We operate in five countries with low geopolitical risk—Canada, the US, Brazil, Colombia, and Peru—all of which are strong mining jurisdictions. Besides gold, our resource inventory includes over 1.7 billion pounds of copper and a significant uranium exploration asset, offering multiple avenues for growth and value creation.
This positions us as a versatile player in the sector relative to similar sized peers which may have a single asset and a very concentrated risk profile.
What's your response to those who question the societal value of the gold mining industry?
Gold mining is a global activity that helps drive social and economic development and we are encouraged to see an industry-wide focus on strong governance, sustainability and environment stewardship. Moreover, gold often occurs in polymetallic settings with other metals like copper, which are crucial for societal advancement and the green transition. The industry has also embraced technological advances that make mining cleaner and more sustainable, from electrified vehicles to more efficient mining and processing methods, and robust reclamation practices. Therefore, responsibly conducted mining is essential for both economic growth and the greening of the economy.
Could you tell us about your company's financial strategy?
Our financial strategy is long-term value creation on a per-share basis. We've been opportunistic in acquisition mode during market lows and are focused on asset development during growth cycles. We collaborate with both long-term and new shareholders who align with our vision. Recently, we have spun out two new companies, like Gold Royalty Corp, which raised $90 million on the New York Stock Exchange, adding a new dimension to our financial operations and the launch of U.S. GoldMining Inc on the Nasdaq to advance the Whistler gold-copper project in Alaska.
What initially drew you to the gold mining industry, and what inspired your transition from larger corporations to your current role?
My passion for geology and the gold industry was ignited at a young age, thanks to a family friend whose father was a geologist. I was fascinated by his travels around the world, bringing back unique mineral samples. This eventually led me to a career that started with working at gold mines in northern Ontario and spending nearly 25 years with major operating companies like Kinross, Placer Dome, Goldcorp, and Newmont. The transition to my current role was inspired by the opportunity to unlock value from a diverse portfolio of assets which had great potential but had seen little modern exploration or advancement. Smaller companies often have more agility in advancing development-stage properties, and this allows us to unlock the value of underappreciated assets in ways that larger corporations sometimes overlook.
How do you approach the management challenges that come with overseeing a complex operation, and how does technology factor into your strategy?
Managing a diverse exploration and development company involves processing a vast amount of information, from regulatory requirements and highly specialized technical information. My approach to managing challenges is foundationally grounded in developing a strong team and having reliable and accurate data. We focus on hiring and developing experienced professionals, like our VP of Exploration, Tim Smith, who left a position at Newmont, the world's largest gold miner, to join us. We want to engage with professionals who are excited about what we're doing, bring extensive industry experience and have a thirst for knowledge and growth. In terms of technology, it's an integral part of our strategy for growth. We use a platform called VRIFY, for example, that allows us to utilize 3D imagery to help make our projects more understandable to non-experts, whether they're team members, stakeholders or potential investors. We've found that the combination of a knowledgeable team and cutting-edge technology is an important pillar to our growth and success.
