Analyst Heiko Ihle of H.C. Wainwright reiterated a Buy rating on GoldMining, retaining the price target of $3.25.
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Heiko Ihle has given his Buy rating due to a combination of factors influencing GoldMining Inc.’s (GLDG) prospects. The company has entered into an earn-in agreement with Australian Mines Limited, allowing for significant investment into the Boa Vista project. This agreement enables GoldMining to monetize its assets while maintaining exposure to the project’s potential, which could enhance the company’s financial position and strategic focus on core projects.
Additionally, the initiation of an extensive exploration program at the São Jorge Project in Brazil is a positive development. This program aims to expand the project’s resource potential and is supported by existing infrastructure, which could lead to increased shareholder value. Furthermore, the revision of the precious metal price deck reflects favorable macroeconomic conditions, with rising gold, silver, and copper prices supporting the company’s valuation. These factors collectively underpin Ihle’s confidence in GoldMining’s future performance.