Haywood’s Slam-Dunk Home-Run Gold Stock
The GoldMining Inc. (TSX:GOLD)(OTC:GLDLF) has appointed Alastair Still as Chief Development Officer and Director of Technical Services for Gold Royalty Corp.
The only thing moving faster than the company’s share price might be the speed with which it is executing.
It was only June when GoldMining announced it was creating Gold Royalty Corp. By August it had appointed former Goldcorp CEO David Garofalo as CEO and Warren Gilman to its board of directors. Then Ian Telfer came on as chairman of the advisory board. Ian is a mining hall-of-famer, having built Wheaton and Uranium One.
Shares moved higher quickly as the names were revealed, up more than 150% since June, now trading near C$3.20.
As the former Director of Corporate Development at Newmont… Mr. Still adds to a string of very high profile appointments.
Haywood took the opportunity to call it championship-level, saying:
`98 Yankees... `95 Bulls... `20 GoldMining Team... Building an All-Star Line Up
We reiterate our Buy rating and maintain our target price of $4.25 per share. GoldMining Management continues to impress us with their execution and ability to attract top-tier talent. The addition of highly successful, high-visibility executives will no doubt bring more eyes to the story and accelerate the build-out of the project and royalty portfolio. We recommend continuing to add to positions in GOLD-T at the current significant discount to peers, to gain significant leverage to gold as the environment for gold and precious metals remains very bullish. Buyers of GoldMining today get a company trading at a steep discount to our valuation, currently trading at an EV/oz Au multiple of US$14.08.
That price target is another 30% higher than GoldMining shares currently trade, and there are still catalysts ahead like the spinout of the royalty corp itself and/or the uplisting of GoldMining shares to a major U.S. exchange.
Either of those would unlock further value.
Yours in profits,
Editor, Resource Stock Digest
Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers.