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While going over my old research notes for GoldMining, an acquisition they made in 2013 grabbed my full attention.
***At the time, they had acquired an entire company, Brazilian Gold. Within that acquisition was a uranium project.***
It already had $10 million in exploration at the time of purchase and a joint venture with Orano, one of the leading uranium producers in the world.
GoldMining owns 75% of the project and Orano owns the other 25%!
The project isn’t gold, but the other yellow metal: uranium is up 40% in 2020.
I like the fact that GoldMining has this project due to the optionality of it. It’s not a core asset, but it is an asset that can become a value add.
Amir Adnani, who is one of the few people on the planet that have actually run a producing uranium company, is perhaps the most ideal “Gold” chairman to oversee the advancement of this asset.
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My focus is still gold, but uranium is certainly an important commodity to the world, supplying 20% of American homes with electricity. Compare that with oil, which only accounts for approximately 2%.
It’s not a bad chart here, either…
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No matter how good an investment sounds, and no mater who is selling it, make sure you’re dealing with a registered investment professional. Use the free, simple search at investor.gov
The NBF figure of $170/oz discovery cost comes from S&P Global database on mineral projects. They arrived at this number by taking “discovered” ounces per year divided by the yearly global exploration budgets. The “discovered” ounces in their database includes all deposits containing over 1 Moz of gold in reserves and past production, or 2 Moz of gold in reserves, resources and past production. The year of “discovery” corresponds with the year of the initial drill program that identified potential economic mineralization.
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