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  • GoldMining Inc has exercised all outstanding January 2020 warrants
  • The move raised CAD$5,549,902.50
  • CEO Garnet Dawson said funds ‘strengthens company’s balance sheet’
  • Expects to complete resource estimate on the Yarumalito Project, Colombia

Mineral explorer GoldMining Inc has exercised all outstanding warrants with expiry dates in January this year with CEO Garnet Dawson saying the it has strengthened the company’s balance sheet.

“With the exercise of all outstanding warrants, the Company has further strengthened its balance sheet and is positioned to continue evaluating additional acquisition opportunities in the Americas and advance several of its key projects in 2020,” he said.

“In early 2020, the Company expects to complete a resource estimate and file a technical report on the Yarumalito Project, GoldMining’s latest acquisition in Colombia.”

The move raised a total of CAD$5,549,902.50, of which $3,188,990 was received after the company’s last published balance sheet date.

GoldMining currently has 144,806,560 outstanding shares, no outstanding warrants, CAD$8.7 million in cash and no debt. And its projects have a global measured and indicated resources of 10.5 million oz of gold (13.4 million oz of gold equivalent) and inferred resources of 12.4 million oz of gold (14.9 million oz of gold equivalent).

At the time of writing GoldMining shares were up CAD$0.08 (5.51%) and trading at CAD$1.53. It has a market capitalization of CAD$217.2 million.

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