Sep. 25 at 9:50 AM
$GLDG $ABX $AEM $AEM $KGC $GFI:
π¨ GoldMining Inc. (GLDG, NYSE) π¨
Gold has surged from
$1,800 β
$3,800/oz in 2 yrs. GLDG is the small cap with the largest gold reserve in the US: 20M oz in the ground.
Market cap:
$235M
Spin-offs:
β’ Gold Royalty (GROY) β
$650M, GLDG owns 12.6% =
$82M
β’ US GoldMining (USGO) β
$160M, GLDG owns 79% =
$126M
β‘οΈ Total spin-off value =
$208M
Subtract that from mkt cap (
$235Mβ
$208M=
$27M) β the 20M oz reserve is valued at just
$27M =
$1.35/oz. Industry avg is
$10β
$40/oz (β
$25). That implies
$500M value.
π Realistic total:
$500M +
$208M = ~
$700M
π Current price
$1.20 vs. fair value
$3.60 β 200%+ upside π
With gold prices climbing + proven mgmt, GLDG looks extremely undervalued. π°β¨