Gold Equities Caught in Broad Selloff, Sentiment Will Rebound


GoldMining: Gold Equities Caught in Broad Selloff, Sentiment Will

Although gold’s performance in 2022 has disappointed some investors, the yellow metal’s price is still high by historical standards and it remains a safe haven in tumultuous times.

Speaking to the Investing News Network at the Rule Symposium, Alastair Still, CEO of GoldMining (TSX:GOLD,NYSEAMERICAN:GLDG), pointed out that general market activity has weighed on gold.

“There’s been a little bit of fear out there — there’s concerns about inflation, talk of recession … people are trying to navigate the waters. It can get a little complicated,” he said during the interview at the event, held at the end of July.

“I think a lot of gold equities in particular have been caught in a broad selloff, and maybe gold somewhat the same way,” Still continued. “The sentiment for gold I think will rebound — it’s traditionally been a great hedge against inflation, and people will go to that as more of a safe-harbor investment to protect themselves.”

Inflation is a concern not only for investors, but also for mining companies. Speaking about how GoldMining has been affected, Still said the company has been relatively sheltered compared to major miners.

“Fortunately for us it has less of an impact, because we have less of our costs being put into the projects right now than a major company,” he explained.

That’s not to say the company isn’t moving forward at its assets. Key focuses right now are GoldMining’s Whistler gold-copper project in Alaska, and its Colombia-based La Mina project, where a preliminary economic assessment was completed earlier this year. Still also mentioned GoldMining’s recent partnership with NevGold (TSXV:NAU,OTCQX:NAUFF) on its Almaden project in Idaho.

Watch the video above for more from Still on GoldMining, as well as why he transitioned to exploration after decades working at large mining firms. You can also click here for the full Rule Symposium playlist on YouTube.

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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.


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