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GoldMining Inc.: An Inferior Way To Buy The Dip

Dec. 05, 2021 5:44 AM ETGoldMining Inc. (GLDG), GOLD:CA21 Comments
Taylor Dart profile picture
Taylor Dart


  • GoldMining Inc. is one of the worst-performing gold juniors this year, down over 35% year-to-date vs. a 24% decline in the Gold Juniors Index.
  • Despite a massive surge in exploration spend sector-wide in 2021, we've still seen minimal funds committed to advancing projects here, with less than $1.0 million spent year-to-date at principal properties.
  • With a ~16.0 million-ounce M&I resource base, GoldMining always looks cheap on a per ounce basis, but with projects being advanced at a snail's pace, it's cheap for a reason.
  • Based on limited exploration spend, and a low likelihood of any of these projects heading into production before 2026, I continue to see dozens of better ways to play the sector.

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It's been a rough year for investors in the Gold Juniors Index (GDXJ), with the ETF giving up a significant portion of its 2020 gains, weighed down a weaker gold (GLD) price, and

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Taylor Dart profile picture
"A bull market is when you check your stocks every day to see how much they went up. A bear market is when you don't bother to look anymore."- John Hammerslough - Disclosure: I am not a financial advisor. All articles are my opinion - they are not suggestions to buy or sell any securities. Perform your own due diligence and consult a financial professional before trading or investing.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of GLD, SKREF, SGSVF either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Disclaimer: Taylor Dart is not a Registered Investment Advisor or Financial Planner. This writing is for informational purposes only. It does not constitute an offer to sell, a solicitation to buy, or a recommendation regarding any securities transaction. The information contained in this writing should not be construed as financial or investment advice on any subject matter. Taylor Dart expressly disclaims all liability in respect to actions taken based on any or all of the information on this writing.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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