GoldMining Inc.

GoldMining Inc.

Amir Adnani and Garnet Dawson founded GoldMining Inc. in 2009 as a public gold-accumulation vehicle that does not mine. The company acquires and holds large-scale gold and gold-copper resource-stage projects throughout the Americas, advancing them through technical studies and permitting while preserving the optionality to sell, spin out, or joint-venture when development economics improve. The portfolio spans Brazil, Colombia, Peru, Canada, and the United States, with flagship projects including the São Jorge gold project in Brazil's Tapajós region, the La Mina gold-copper deposit in Colombia, and the Titiribi gold-copper project, also in Colombia. Rather than committing capex to a single mine, GoldMining maintains a diversified resource base — a structure Adnani refined from his earlier experience co-founding Uranium Energy Corp. This project-generator model limits dilution and keeps technical talent focused on resource expansion and de-risking, not production schedules. In 2020, Adnani and former Goldcorp CEO David Garofalo spun Gold Royalty Corp. out of GoldMining's royalty portfolio, creating a pure-play precious-metals royalty company. GoldMining retained an equity stake and ongoing royalty interests on certain properties. The firm employs a lean technical team, with Gold Royalty Corp. sharing management and board overlap. The corporate structure therefore functions as a resource incubator, with royalties providing a recurring revenue stream that partly funds continued exploration and expansion across the wholly owned project portfolio. The structural differentiator is the company's refusal to become a producer. While most gold juniors eventually build or sell a single flagship asset, GoldMining operates as a curated collection of deposits — a portfolio approach that spreads political and geological risk across five jurisdictions and gives management permanent option value on any future gold price cycle.