Business
U.S. Global Investors Launches Gold Royalty GOAU ETF on Peru’s Lima Stock Exchange, Provides Update on Share Buyback Program
San Antonio, TX, Dec. 06, 2023 (GLOBE NEWSWIRE) -- U.S. Global Investors, Inc. (NASDAQ: GROW) (the “Company”), a registered investment advisory firm with
About this update from U.s. Global Investors, Inc.
[{"type":"text","content":"San Antonio, TX, Dec. 06, 2023 (GLOBE NEWSWIRE) -- U.S. Global Investors, Inc. (NASDAQ: GROW) (the “Company”), a registered investment advisory firm with longstanding experience in global markets and specialized sectors, today is pleased to announce that its gold mining and royalty ETF, the U.S. Global GO GOLD and Precious Metal Miners ETF (NYSE: GOAU), is now listed on Peru’s Bolsa de Valores de Lima (Lima Stock Exchange). The new listing expands GOAU’s global footprint and provides Peruvian investors access to the fund. GOAU will join the U.S. Global Jets ETF (NYSE: JETS), which listed in Lima in December 2020. “We’re very excited to expand GOAU into Peru, one of the fastest growing economies in Latin America,” says Frank Holmes, the Company’s CEO and Chief Investment Officer. “Further, mining is the country’s top sector, accounting for about 10% of its gross domestic product (GDP). Peru is rich in natural resources, including key metals such as copper, silver and gold; in fact, the country is the largest producer of the yellow metal in all of Latin America. I believe this makes it an ideal destination for GOAU, which provides investors access to not just gold mining companies but also, strategically, royalty companies. “We consider royalty companies—the largest being Franco-Nevada, Wheaton Precious Metals and Royal Gold, which collectively constitute approximately 30% of GOAU—to be the ‘smart money’ of the metals and mining industry,” Mr. Holmes continues. “Instead of conducting the mining themselves, they provide upfront cash to explorers and producers in exchange for royalties on future sales or a fixed stream of the metal that’s produced. Both Franco-Nevada and Wheaton Precious have assets in Peru. Other companies that have assets or a presence in Peru that are also currently held in GOAU include Sandstorm Gold Royalties, Gold Fields, Hochschild Mining and AngloAmerican.” To see the top holdings in GOAU, click here. Download the English language GOAU fact sheet here and the Spanish language fact sheet here. Share Buyback Update The Company is also pleased to provide an update on its share buyback program. In November 2023, the Company bought back 44,757 of its own shares at a net cost of around $128,000. This represents an approximately 80% increase in the number of shares that were repurchased during the same month a year...