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BROSSARD, QC,May 14, 2025/CNW/ – G Mining Ventures Corp. (“GMIN” or the “Corporation” or “we“) (TSX: GMIN) (OTCQX: GMINF) is pleased to report its production and financial results¹for the quarter endedMarch 31, 2025.Unless otherwise stated, all dollar amounts in this news release are expressed in U.S. dollars. 

“We are pleased to deliver a second consecutive quarter of free cash flow with perfect safety performance.

 

“While continuing to ramp up to nameplate capacity, we produced about 35,600 ounces at a leading all-in sustaining cost of $960 per ounce.

 

“With a further increase in production and decrease in costs expected in the second half of the year, we remain on track to achieve our full year production guidance.

 

“With $149 million in cash on hand, we are excited to advance early works at Oko West and proceed to a formal construction decision later this year. Our strategy remains focused on building long-term shareholder value through disciplined execution.”

First Quarter 2025 Operational and Financial Highlights

• On track to deliver 2025 production, cost, and capital guidance
• Safety: No Lost Time or Recordable Incidents
• Production:35,578 ounces (“oz”) of gold (“Au”) in Doré
• Operating Costs: All-in sustaining costs²(“AISC”) of $960 per oz Au sold
• Net Income:$24.4 million, or $0.11per share – basic
• Adjusted Net Income2:$35.4 million or $0.16 per share – basic
• Adjusted EBITDA(Earnings before Interest, Taxes, Depreciation and Amortization)2:$68.6 million
• Cash Flow from Operating Activities:$39.4 million before the net change in non-cash working capital items
• Free Cash Flow²:$36.0 million, or$0.16per share – basic
• Cash and Cash Equivalents:$149.0 million

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Year to Date Corporate Highlights

• Released Positive Feasibility Study for Oko West:In April, published a robust Feasibility Study outlining a base case after-tax NPV_5%of$2.2 billionand 27% IRR using a$2,500gold price, and average annual gold production of 350,000 ounces at an AISC²of$1,123/oz for 12.3 years.
• Commenced Early Works Construction at Oko West:Following receipt of the Interim Environmental Permit in January, early works began in March, with~$150 millionin long-lead items committed and negotiated to date.
• Reported Significant Increase in Mineral Reserves:Proven and Probable reserves increased to 6.7 million ounces, while improving the average grade by 30% to 1.62g/t Au.
• Added to Three Major Benchmark Indices:In recognition of growth and increased market relevance, GMIN was added to the S&P/TSX Composite index (GSPTSE), NYSE Arca Gold Miners Index (GDX), and the VanEck Junior Gold Miners ETF (GDXJ) — significantly enhancing visibility among institutional investors and index-tracking funds.

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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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