#Canada #Brossard #G Mining Ventures #GMIN #Tocantinzinho

G Mining Ventures Announces Fourth Quarter and Year-End 2024 Results

In the latest financial report, G Mining Ventures Corp. (TSX: GMIN, OTCQX: GMINF) showcased its achievements for the fourth quarter and the entire year ended December 31, 2024. This is a landmark period for the corporation, reflecting a successful execution of its strategic plan to enhance production and optimize financial performance.

Production Highlights

During the fourth quarter of 2024, G Mining Ventures successfully produced 40,147 ounces of gold in doré form and sold a total of 39,938 ounces. This marked the company's first full quarter of commercial production at the Tocantinzinho (TZ) mine, which has quickly become a vital asset in their operational portfolio. The corporation reported impressive cash flow generation, producing $73.2 million before the effect of any working capital changes. Notably, the all-in sustaining costs (AISC) stood at $862 per ounce sold, underlining the operational efficiency at TZ.

According to Louis-Pierre Gignac, President and CEO, “2024 marked a transformational year for GMIN. With just four months of commercial production, TZ is generating significant free cash flow, offering us the financial flexibility needed to support our next growth phase.”

Financial Performance

G Mining Ventures reported a net income of $47.6 million, translating to $0.21 per share. Moreover, their adjusted net income reached $58 million ($0.26 per share). The report highlighted an adjusted EBITDA of $77.9 million, a strong indicator of the company's operational health and profitability potential.

The enhanced cash position at year-end stood at $141.2 million, a positive indicator amidst rising market uncertainties, and reflects the results of robust mining operations and strategic financial management.

Major Initiatives and Future Growth

For G Mining Ventures, 2024 was not just about immediate production results. The company made significant strides in positioning itself for future growth by acquiring the Oko West project in Guyana, recognized as one of the premier undeveloped gold projects globally. The acquisition enables GMIN to target an annual production goal of over 500,000 ounces.

Management expressed confidence as they look ahead to 2025. Key projects include the completion of a Feasibility Study for Oko West, which is scheduled for publication in April 2025, and the commencement of strategic exploration across their portfolio. The company is keen on low-cost production while pushing forward with exploration activities at Oko West and Gurupi project, further solidifying their growth trajectory.

Local Community Engagement

G Mining Ventures prides itself on its community engagement, with a substantial percentage of its workforce sourced from local communities — about 67% of its nearly 1,000 employees and contractors hail from the regions in which it operates. This commitment ensures that the local community not only supports but also benefits from the extraction operations.

The company's focus on environmental and social governance aligns with its operational activities, and they are in the process of submitting various environmental assessments to ensure compliance with local standards, reinforcing its commitment to sustainable mining practices.

Conclusion

As G Mining Ventures Corp. embarks on 2025, it remains dedicated to executing its 'Buy. Build. Operate.' strategy effectively, driving production capacity and enhancing its portfolio in a sustainable and economically beneficial manner. With a solid financial foundation and strategic growth plans in place, GMIN is poised to strengthen its market position in the precious metals sector and create substantial shareholder value in the upcoming years.