G Mining Ventures (TSX: GMIN)
Announced the results of its Feasibility Study for the development of its wholly-owned Oko West Gold Project located in Region 7,Guyana.
The FS confirms robust economics for a low-cost, large-scale, conventional open pit and underground mining and milling operation, with industry-leading operating costs and high rate of return.
| G Mining Ventures | TSX: GMIN | |
| Stage | Development + Exploration | |
| Metals | Gold | |
| Market cap | C$4.35 billion @ C$19.29 | |
| Location | Para State, Brazil, Guyana | |
| Website | www.gminingventures.com |
G Mining Ventures Delivers Robust Feasibility Study For High-Grade Oko West Gold Project in Guyana
BROSSARD, QC,April 28, 2025/CNW/ – G Mining Ventures Corp.(“GMIN” or the “Corporation“) (TSX: GMIN) (OTCQX: GMINF) is pleased to announce the results of its Feasibility Study (the “FS” or the “Study“) for the development of its wholly-owned Oko West Gold Project (“Oko West” or the “Project“), located in Region 7,Guyana.
Unless otherwise stated, all dollar amounts in this news release are expressed in U.S. dollars.
The FS confirms robust economics for a low-cost, large-scale, conventional open pit (“OP“) and underground (“UG“) mining and milling operation, with industry-leading operating costs and high rate of return.
The Study outlines total gold production of 4.3 million gold ounces (“Au oz“) over 12.3 years, resulting in an average annual gold production profile of 350,000 ounces with an All-In-Sustaining Cost (“AISC“) per ounce of$1,123. The Project after-tax net present value (“NPV“) (5% discount rate) is$2.2 billionwith an after-tax internal rate of return (“IRR“) of 27% at a gold price of$2,500per ounce.
Final environmental permits are expected in Q2-25, with a targeted construction decision in H2-25. The Project is ideally sequenced to leverage the strong macroeconomic conditions including a strong gold price, lower inflation, andGuyana’s rapidly developing economy.
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Highlights
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- After-tax NPV5%of$2.2 billion, IRR of 27% and payback of 2.9 years at $2,500/oz base case gold price (long-term consensus)
- After-tax NPV5%of$3.2 billion, IRR of 35% and payback of 2.1 years at $3,000/oz gold price
- Average annual gold production of 350,000 ounces at an AISC of $1,123/oz for 12.3 years
- Initial capital cost of $972 millionand sustaining capital of $650 millionover the life of mine
- Early works construction progressing well after receipt of Interim Environmental Permit
- Final Environmental Permit expected in Q2-25, targeting construction decision in H2-25
- An average of 1,270 direct permanent jobs to be created from the Oko West Project.
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Louis-Pierre Gignac, President & Chief Executive Officer commented
“The Oko West Feasibility Study marks a major milestone in realizing the value of what we consider one of the world’s most exciting undeveloped gold projects.
“It confirms a long-life, high-margin operation with strong economics, supported by a proven resource and solid infrastructure.
“With Tocantinzinho nearing nameplate capacity and generating meaningful free cash flow, GMIN is well positioned to advance Oko West using the same experienced team and disciplined execution that delivered our first mine ahead of schedule and on budget.
“We remain committed to responsible development and look forward to deepening our partnership with the Government of Guyana and local communities as we advance Oko West as our second cornerstone asset.”
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To read the full news release, please click HERE
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The live gold price can be found HERE
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Disclosure
At the time of writing the author holds shares in G Mining Ventures.
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