GoldMining poised to trade on NYSE American
GoldMining Inc. [GOLD-TSX; GLDLF-OTXQX] said Thursday October 1 that its shares have been approved for listing on the NYSE American stock exchange. The company said it expects that its common shares will start trading on NYSE American on October 6, 2020.
“We are pleased to announce our listing on the NYSE American stock exchange, which will provide enhanced access to the world’s largest and most liquid equity market, increasing our exposure to a larger and substantially more diverse audience of institutional and retail investors,” said GoldMining Chairman Amir Adnani.
GoldMining shares advanced on the news, rising 3.4% or $0.011 to $3.35. The shares are currently trading in a 52-week range of $3.85 and 85 cents.
GoldMIning Inc. is a South America-focused exploration stage company with a rapidly diversifying asset base spanning Canada, Brazil, Colombia, Peru and the United States.
Additionally, GoldMining owns a 75% interest in the Rea Uranium Project, which is located in the Western Athabasca Basin of Alberta.
Back in June, 2020, the company announced the creation of Gold Royalty Corp., a new wholly-owned gold-focused royalty company.
David Garofalo, the former CEO of Goldcorp Inc. prior to its merger with Newmont Mining in 2019, has been named Chairman and CEO of Gold Royalty Corp.
Ian Telfer, the former Chairman of Goldcorp., was named Chairman of the Advisory Board of Gold Royalty Corp. Telfer was Chairman of the World Gold Council from 2009 to 2013. He built and led a series of very successful companies through strategically timed mergers and acquisitions, including Wheaton River, Goldcorp and Uranium One.
Gold Royalty’s royalty portfolio is expected to initially consist of 0.5% to 2.0% net smelter return royalties on the company’s interest in 14 existing projects with the opportunity to expand the royalty portfolio through the company’s buy-back rights on existing NSR royalties, ranging from 0.5% to 2.0% held by third parties on up to five of the 14 projects.
The company said 11 of the 14 NSRs are associated with advanced-stage resource and development projects with exposure to 11 million ounces of gold in the measured and indicated category and 13.8 million ounces in the inferred category.
“The initial portfolio of 14 royalties on GoldMining’s projects will serve as a strong platform to grow the company [Gold Royalty Corp] towards a cash flow royalty model,” Adnani said.
Gold Royalty Corp. will retain exposure to future discoveries through its precious metal focused portfolio, covering 1,290 km2 in mining friendly jurisdictions in five countries in the Americas.