GoldMining reported a quarterly loss per share of $(0.03), widening from losses of $(0.01) per share in the same period last year. This performance represents a 200 percent decrease in the company's per-share earnings compared to the prior year period.

The company's financial results indicate a deepening of losses on a year-over-year basis. The reported figures reflect the net loss attributable to common shareholders for the second quarter.

Financial Performance

The following table outlines the key earnings per share figures for the reported period:

GoldMining operates as a mineral acquisition and exploration company. The widening loss per share highlights the financial challenges faced during the quarter.

GoldMining Inc. reported a debt-free balance sheet holding approximately US$185 million in cash and publicly traded securities as of June 24, 2026, a figure nearly equal to its entire market capitalization. The company highlighted this financial strength alongside the release of preliminary economic assessments (PEAs) for its São Jorge and La Mina projects, which conceptually demonstrate significant post-tax net present values at a 5% discount rate (NPV5%).

The São Jorge project in Brazil features a conceptual NPV5% of US$532 million and an initial capital requirement of US$202 million, including contingency. The La Mina project in Colombia presents a base-case conceptual NPV5% of US$1.0 billion with a rapid 2.7-year payback period. Additionally, U.S. GoldMining Inc., a 74%-owned subsidiary, released an initial PEA for its Whistler Gold-Copper Project in Alaska with a conceptual NPV5% of US$2.0 billion.

Balance Sheet and Resource Base

GoldMining maintains no debt and holds strategic equity holdings in U.S. GoldMining, Gold Royalty Corp., and NevGold Corp. The company's market capitalization stood at US$191 million as of market close on June 24, 2026. Its global resource base includes 13.1 million gold equivalent ounces (oz AuEq) in the measured and indicated categories, plus an additional 9.0 million oz AuEq in the inferred category.

Project Valuations and Economics

The following table summarizes the key economic metrics from the PEAs released in the first half of 2026:

Operational Updates

GoldMining is actively advancing its portfolio with three drill rigs currently turning across Brazil and Colombia, and additional rigs mobilizing in Alaska. The company is executing a 1,200-metre drill program at the Yarumalito project in Colombia to test high-priority targets. The São Jorge project benefits from infrastructure advantages, including proximity to existing power lines and paved highways, with a projected production profile averaging over 50,000 ounces per year for an initial mine life of nearly 11 years.

The PEAs are preliminary in nature, and there is no certainty that the reported results will be realized. The PEA for the São Jorge and La Mina projects includes inferred mineral resources, which are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves.