GoldMining Inc. (GLDG)’s $1B La Mina Project Positions GLDG as a Top Stock Under $5

GoldMining Inc. (NYSEAMERICAN:GLDG) is one of the Best Gold Stocks Under $5. On April 28, GoldMining Inc. (NYSEAMERICAN:GLDG) delivered a solid update to its preliminary economic assessment for the La Mina Project in Antioquia, Colombia.

While incorporating current benchmarked costs and updated case pricing of $3,500/oz gold, $4.70/lb copper (Cu), and $40/oz silver (Ag), the updated PEA affirms a Net Present Value of $1 billion with an IRR of 49.1%. The company expects to spend $523 million in capital expenditures at the mine, resulting in an attractive initial capital-to-base case ratio of 0.5%.

GoldMining expects average annual production of 152.4 koz Au equivalent over the first five years of operation, with 1.5 Moz AuEq over the mine’s total life. According to Alastair Still, the chief executive officer, the expected production and mine’s net present value underscore the underlying quality of the La Mina porphyry gold-copper mineral system.

GoldMining Inc. (NYSEAMERICAN:GLDG) is a public mineral exploration and mine development company that acquires and develops gold and gold-copper assets across the Americas. Rather than directly operating active mines, the company builds and holds a vast, diversified portfolio of resource-stage projects across countries such as Canada, the U.S., Brazil, Colombia, and Peru.

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