GoldMining advances gold-copper strategy as copper prices surge

VANCOUVER - GoldMining Inc. (TSX:GOLD) (NYSE American:GLDG) is advancing its gold-copper strategy across the Americas as copper prices reach near-record highs, up approximately 20% year-over-year, according to a company press release issued Monday. Its subsidiary U.S. GoldMining Inc. (USGO) has shown strong market performance, with a 44% price return over the past year despite significant market volatility. According to InvestingPro data, USGO maintains a beta of 1.96, indicating higher volatility than the broader market.

The Vancouver-based mining company reports having 100%-owned projects with estimated mineral resources of over 1.2 billion pounds of copper in Measured and Indicated categories and a further 0.5 billion pounds in the Inferred category. Additionally, GoldMining owns approximately 79% of U.S. GoldMining Inc. (Nasdaq:USGO), which controls the Whistler Gold-Copper Project in Alaska containing over 1 billion pounds of copper in estimated Indicated resources. InvestingPro analysis shows USGO maintains a strong financial position with a current ratio of 5.45, indicating robust liquidity to meet short-term obligations.

The company’s portfolio includes projects across tier-one mining jurisdictions with aggregated estimated mineral resources of approximately 12.4 million gold equivalent ounces in the Measured and Indicated categories, and 9.1 million gold equivalent ounces in the Inferred category.

"Copper is not only a critical metal for the energy transition, it is now a matter of national interest for governments across the Americas," said Alastair Still, CEO of GoldMining, in the press release. "GoldMining is uniquely positioned with a diversified portfolio that includes multiple resource-stage gold and gold-copper projects containing significant copper resources."

The company’s holdings include the La Mina, Titiribi, and Yarumalito projects in Colombia, alongside its interest in the Whistler project in Alaska. GoldMining also owns approximately 9.9 million shares of U.S. GoldMining, representing a market value of approximately CAD$119 million based on the July 18 closing price. While USGO trades at a relatively high Price/Book ratio of 33.13, InvestingPro offers additional valuable insights about the company’s valuation and growth prospects, with 7 more exclusive ProTips available to subscribers.

The company’s mineral resource estimates are reported in accordance with National Instrument 43-101, with qualified persons supervising the preparation and verification of technical information.

In other recent news, U.S. GoldMining Inc. announced it is gearing up for its 2025 exploration program at the Whistler Gold-Copper Project in Alaska. The company aims to explore new porphyry gold-copper drill targets and conduct further mapping and sampling at the Muddy Creek prospect. Additionally, U.S. GoldMining’s parent company, GoldMining Inc., filed unaudited interim financial statements for the three and six months ended May 31, 2025. These financial statements are preliminary and not prepared according to U.S. generally accepted accounting principles, and the company cautioned that actual results might differ from these preliminary figures. The Whistler project contains significant mineral resources, including over 1 billion pounds of copper and nearly 19 million ounces of silver in the Indicated category. Rising copper prices, which have increased by 14% in the past month, are seen as advantageous for the project. The company highlighted the project’s proximity to infrastructure and potential benefits from planned developments like the West Susitna Access Road. U.S. GoldMining also noted recent U.S. federal initiatives to speed up mine permitting processes, which could positively impact the project.

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