06:19 AM EST, 12/23/2024 (MT Newswires) -- GoldMining ( GLDG ) over the weekend said it renewed its at-the-market equity program allowing it to distribute up to US$50 million in common shares.

The shares offered in the at-the-market program will be sold at the prevailing market price.

Net proceeds from any sale under the program will be used to fund the exploration and development of GoldMining's ( GLDG ) mineral properties, to fund future acquisitions, and for working capital.

Sales of offered shares will be made by agents through at-the-market distributions. The distribution agreement will end once gross proceeds reach US$50 million or on Dec. 24, 2025, whichever comes earlier.

The renewed program replaces the company's at-the-market equity program that began in November 2023 and expires on Dec. 31, 2024.