7 Reasons to Bank on Higher Gold Prices

There's a reckoning on the horizon in the gold markets. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

Dear Reader, There’s a reckoning on the horizon in the gold markets. All the ingredients are in place for a historic gold rally, one that might just send gold catapulting to brand-new record highs once only dreamed of. UBS thinks gold will hit $2,500 this year… Goldman Sachs’ forecast for the price of gold is $2,700… Citi has the most bullish price target of $3,000 gold in the next 6-18 months. Gold prices above $2,300 per ounce unlock considerable value for projects that were deemed marginal at previous levels… And supercharge the returns of ones that were already economic in the past cycle. If gold hangs in above $2,300 per ounce… It could be a major inflection point for the sector and for valuations going forward. Especially gold companies who made their moves over a decade ago when gold was touching $1100, not $2200 per oz… Katusa Special Situations Company Alert: GoldMining Inc. (GLDG.NYSE) This is a highly speculative stock that comes with significant investment risk. If this bothers you, do not invest. Before making any decision you should review the company's disclosure under its profiles at www.sedarplus.ca and www.sec.gov for important information regarding it and its assets. Here’s why KR Special Situations sees GoldMining (GLDG.NYSE) as a standout opportunity…   7 Catalysts Have Caught Our Attention 1. Robust Financial Position: About USD$119 million in cash and equity. 2. Substantial Gold, Silver and Copper Resource Base: The company boasts a multi-million-ounce gold equivalent resource portfolio, with 12.5 million ounces in Measured & Indicated resources and 9.7 million ounces in Inferred resources. 3. Global Reach and Diverse Portfolio: Operations span across mining-friendly jurisdictions in the Americas with a mix of gold, copper, and even uranium projects, emphasizing a diverse commodity exposure. 4. Leadership with Proven Track Record: The management team, led by experienced industry professionals, brings decades of expertise in mining, exploration, and project development. Including Alastair Still, Amir Adnani, and David Garofalo. And you have one of the deepest Gold + Uranium teams in the business behind this company.   In this new GOLD BOOM… GoldMining Inc. is re-thinking how mining companies operate and profit. 5. Leverage to the Gold Price: The company’s model combines leverage to gold prices with robust cash and equity holdings, creating value with minimal dilution from its extensive gold-focused asset portfolio. 6. Uranium Project Potential: The Rea Uranium project in Canada represents an untested potential in one of the highest-grade uranium regions globally, adding a layer of diversification to the company’s asset base.   When GoldMining acquired the Rea uranium project, uranium spot price was a fraction of what it is today – below $40 per pound. Uranium prices are now 130% higher. Because GoldMining Inc. is a gold company, very few investors are even aware they have a 75% interest in a promising uranium project… And completely surrounding one of the highest grade deposits ever drilled whose owner is GoldMining Inc. Joint Venture partner on the Rea uranium project.   Paying Attention to the Valuation Gap Now for the all-important reason #7. This is what first caught our attention… The company bought up world-class projects at fantastic prices, and spun out subsidiaries to streamline their business plan… While keeping an equity stake, and they did it all without adding any debt to their balance sheet. Trading for under US$1 per share… Provides direct exposure to 12.5 Million ounces of gold equivalent in the measured and indicated category And 9.7 Million ounces in the inferred category Across a portfolio of gold and gold-copper projects in the Americas CAD$162.5 Million in cash and publicly traded equities** With no debt and a bonus uranium play… All while being exposed to leverage in both gold and uranium while prices have been increasing… You can see why this has our attention.   Click here to access the GoldMining Analysis Regards, The Katusa Research Special Situations Team   **(based on cash as of GoldMining’s filing for the quarter ended February 29, 2024 plus the market value of public company shares based on closing prices as of April 30, 2024) Copyright © 2024, Katusa Research, All rights reserved. PLEASE READ: RETURNS AND TESTIMONIAL DISCLOSURE  Contact Us | Privacy | Terms & Conditions DISCLOSURES/DISCLAIMER  IMPORTANT DISCLAIMER: Katusa Research, as a publisher, is not a broker, investment advisor, or financial advisor in any jurisdiction. Please do not rely on the information presented by Katusa Research as personal investment advice. If you need personal investment advice, kindly reach out to a qualified and registered broker, investment advisor, or financial advisor. The communications from Katusa Research should not form the basis of your investment decisions. Examples we provide regarding share price increases related to specific companies are based on randomly selected time periods and should not be taken as an indicator or predictor of future stock prices for those companies. GoldMining Inc. has reviewed and sponsored this article. The information in this newsletter does not constitute an offer to sell or a solicitation of an offer to buy any securities of a corporation or entity, including U.S. Traded Securities or U.S. Quoted Securities, in the United States or to U.S. Persons. Securities may not be offered or sold in the United States except in compliance with the registration requirements of the Securities Act and applicable U.S. state securities laws or pursuant to an exemption therefrom. Any public offering of securities in the United States may only be made by means of a prospectus containing detailed information about the corporation or entity and its management as well as financial statements. No securities regulatory authority in the United States has either approved or disapproved of the contents of any newsletter. Katusa Research nor any employee of Katusa Research is not registered with the United States Securities and Exchange Commission (the “SEC”): as a “broker-dealer” under the Exchange Act, as an “investment adviser” under the Investment Advisers Act of 1940, or in any other capacity. He is also not registered with any state securities commission or authority as a broker-dealer or investment advisor or in any other capacity. HIGHLY BIASED: In our role, we aim to highlight specific companies for your further investigation; however, these are not stock recommendations, nor do they constitute an offer or sale of the referenced securities. Katusa Research has received cash compensation from GoldMining Inc. in the amount of $312,500 in both April 2024 and May 2024 and is thus extremely biased. Members of Katusa Research may also own shares in GoldMining Inc. It is crucial that you conduct your own research prior to investing. This includes reading the companies’ SEDAR and SEC filings, press releases, and risk disclosures. The information contained in our profiles is based on data provided by the company, extracted from SEDAR and SEC filings, company websites, and other publicly available sources. HIGH RISK: The securities issued by the companies we feature should be seen as high risk; if you choose to invest, despite these warnings, you may lose your entire investment. You must be aware of the risks and be willing to accept them in order to invest in financial instruments, including stocks, options, and futures. NOT PROFESSIONAL ADVICE: By reading this, you agree to all of the following: You understand this to be an expression of opinions and NOT professional advice. You are solely responsible for the use of any content and hold Katusa Research, and all partners, members, and affiliates harmless in any event or claim. While Katusa Research strives to provide accurate and reliable information sourced from believed-to-be trustworthy sources, we cannot guarantee the accuracy or reliability of the information. The information provided reflects conditions as they are at the moment of writing and not at any future date. Katusa Research is not obligated to update, correct, or revise the information post-publication. FORWARD-LOOKING STATEMENTS: Certain of the information contained herein and in the Company’s disclosures referenced herein constitutes “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and U.S. securities laws (“forward-looking statements”), which involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Forward-looking statements, which are all statements other than statements of historical fact, include, but are not limited to, statements respecting the Company’s strategies, expectations regarding gold markets, expectations regarding the operations and results of the operators of the projects underlying the Company’s interests and expectations regarding future production and revenues from the Company’s royalties. Forward-looking statements are based upon certain assumptions and other important factors, including assumptions relating to commodities prices and the business of the Company. Forward-looking statements are subject to a number of risks, uncertainties and other factors which may cause the actual results to be materially different from those expressed or implied by such forward-looking statements, including those set forth in the Company’s Annual Report on Form 20-F and its other publicly filed documents under its profiles at www.sedarplus.ca and www.sec.gov. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. Readers should review the GoldMining Inc public disclosures at www.sedarplus.ca and www.sec.gov for important information regarding it and its assets.

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