From seekingalpha , last paragraph is news to me...
Goldmining Inc. (previously Brazil Resources) stated strategy is to acquire advanced stage projects. They have done an incredible job achieving that strategy. In 2012, they acquired the Cachoeira project. After their initial drilling, the resource size increased from 750,000 oz to 1.3 million oz (1.2 gpt). Since then they have not attempted to move it to production, or advance any of their other projects towards production.??In 2013, they acquired Brazil Gold and their 1.7 million oz Sao Jorge project. This may now become their first mine. It has a PEA to produce 100,000 oz at $650 cash costs. The after-tax IRR is 33% at $1300 gold, thus it is very economic. I'm waiting for them to give guidance that a feasiblity study is underway. They have $16 million in cash and no debt. ??In 2015, they acquired the Whistler project in Alaska from Kiska Metals. It is a 5 million oz deposit (.5 gpt), with copper offsets. ??In 2016, they acquired the Titiribi project in Colombia from Nova Copper. It is an 8 million oz deposit (.5 gpt), with copper offsets. ??In 2017, they acquired the Yellowknife project in Canada (Northwest Territories) for 4 million shares from Tyhee Gold. It is a 2.2 million oz (2 gpt) resource on 35,000 acres with significant exploration potential. The feasibility study calls for producing 100,000 oz for 15 years. It is not economic to finance at current gold prices, with a 20% pretax IRR at $1400 gold. That's around a 10% IRR post-tax at $1300 gold.??In 2017, they acquired the La Mina project (1.5 million oz) from Bellhaven Gold & Copper for $10 million by issuing shares. They gave Bellhaven shareholders 6% ownership of Goldmining Inc. They only paid a 20% premium, which was a fantastic deal for Goldmining Inc.??In 2017, they acquired the Crucero project in 2017 for 3.5 million shares and $750,000. The price they paid was a steal. It is an advanced 2 million oz (1 gpt) deposit. It's on 4,600 acres in Peru. ??They also have several large properties in Brazil: Maua (25,000 acres), Pireneus (250,000 acres), Apa (500,000 acres), and Artulandia (12,000 acres). Once they get some cash flow, this will likely be a growth company. Their FD market cap has exploded from $36 million to $194 million, but it is still very cheap versus their resources. ??I think this is a company with potential to become a very large company, once they decide to become development company. They have 800,000 acres of exploration targets and an aggressive management team. I get the feeling that they are not for sale (insiders own 25%) and want to grow this company. My concern is that they appear to be more about deal-making than mine building. I'm starting to think it is ironic that they renamed their company to Goldmining Inc. I'm not sure they want to be a mining company. However, worst case I think they will be a 5 bagger from their large projects and potentially more on the way. Once gold prices rise, they are going to have several large advanced economic projects.??Note: 9/16/2017. The jurisdiction for their Titiribi project in Colombia is considering banning all mining. If it passes, not only will Goldmining Inc's share price take a hit, but all development/exploration stocks in Colombia will get downward pressure. Each jurisdiction in Colombia can decide if they want mining.
