GoldMining Inc. reports net loss of C$17.95M for 9M; exploration spend doubles

U.S. GoldMining Inc.

2024-Q3 EPS reported -$0.55

Net loss attributable to shareholders: C$16.64M (C$0.09 per share) for 9M ended Aug 31, 2024 vs C$22.10M (C$0.13) prior year.
Exploration expenses increased to C$7.08M from C$3.93M YoY, primarily on the Whistler Project in Alaska.
Cash and cash equivalents decreased to C$11.1M as of Aug 31, 2024 from C$21.6M at Nov 30, 2023.
Completed sale of Almaden Project to NevGold, recognizing C$3.2M recovery and resulting C$1.8M income tax payable.
Company holds 26.7M shares of NevGold (28.3% ownership); fair value C$7.7M as of Aug 31, 2024.

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