G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF)

G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) is a mineral exploration company engaged in the acquisition, exploration and development of precious metal projects to capitalize on the value uplift from successful mine development. The company’s mission is to acquire, build and operate sustainable precious metal mining operations using its proven “self-perform” approach, while focusing on the health and safety of its employees and host communities first.

In 2020, G Mining Ventures was created to acquire direct ownership of projects. With strong access to capital via a supportive shareholder base, coupled with proven development expertise, the company is well positioned to become the next mid-tier precious metal producer.

G Mining Ventures is currently anchored by its flagship asset, the 100%-owned Tocantinzinho Project (TZ), in mining friendly Para State, Brazil. TZ is an open-pit gold deposit containing around 2 million ounces of reserves at 1.3 grams per ton. The deposit is open at depth, and an underexplored 688-square-kilometer land package presents additional exploration potential.

G Mining strives to include all stakeholders in its journey toward creating exceptional value, including major shareholders, government organizations, local communities and employees, among others. In order to facilitate that inclusion, regular communications are coordinated to convey material developments and solicit feedback from interested parties.

The company is headquartered in Brossard, Québec.

Project Portfolio

Tocantinzinho

Tocantinzinho (TZ) was acquired in 2021 and construction was launched in September 2022, following completion of a Definitive Feasibility Study (DFS) which confirmed TZ’s potential to be a cornerstone asset for G Mining. The DFS contemplates a 10.5-year mine life with an average annual gold production of 175,000 ounces and an initial capital cost of $458 million. The DFS displayed robust economics at a $2,000 per ounce gold price assumption, including an after-tax NPV 5% of $1 billion and an after-tax IRR of 34%.

The first pour at TZ yielded approximately 440 ounces of gold, and the project remains on time and budget for commercial production in the second half of 2024. Once in commercial production, TZ is expected to become Brazil’s third-largest primary gold mine.

Since the start of hot commissioning in June 2024 approximately 77,000 tons of ore have been processed through the TZ process plant, with all circuits operating as expected.

Oko West

In July 2024, through its business combination with Reunion Gold Corp., G Mining acquired Reunion’s flagship Oko West Project located in Guyana within the Guiana Shield region, one of the most attractive mining jurisdictions in South America. Oko West has emerged as a globally significant gold discovery over the last few years, with excellent potential to become a top tier deposit that could support a large, long-life mine complex to accelerate G Mining’s vision of building a leading intermediate gold producer.

The company plans to move Oko West quickly through technical studies to a construction decision, leveraging the considerable amount of exploration, development and permitting work that has already been completed, supported by the expected free cash flow stemming from TZ.

Market Opportunity

The World Gold Council, the industry association for the world’s gold producers, estimated in 2023 the physical financial gold market, which is made up of bars, coins, gold ETFs and central bank reserves, is worth nearly $5 trillion. The council reports that gold mine production adds approximately 3,500 tons of the precious metal to the world’s supply annually, equivalent to about 2% growth.

This historical scarcity and relatively slow production of new supply, as compared to other commodities, is a primary reason gold has retained its value for millennia, according to the council. In July 2024, the market price of gold was approximately $2,450 per ounce.

Management Team

Louis-Pierre Gignac, P. Eng., CFA, is Co-Founder, President and CEO of G Mining Ventures. He has more than 20 years of experience in the mining industry and has coordinated many mandates with numerous major mining companies, ranging from early exploration evaluations to operations optimization involving all fields of mining and geology. He is a member of the Ordre des Ingénieurs du Québec and the Canadian Institute of Mining. He holds a Bachelor of Mining Engineering from McGill University and a Master degree of Applied Science in Industrial Engineering from the École Polytechnique de Montréal.

Julie Lafleur, CPA, CA, is Vice President, Finance and CFO of G Mining Ventures. She has been a Chartered Professional Accountant in Québec since 1998 and has 20 years of experience in the mining industry. After four years with accounting firm Raymond Chabot Grant Thornton, she started with Cambior Inc. as accounting analyst and took on various positions of increasing responsibility with Niobec Inc., Iamgold Essakane S.A., Newmont Suriname LLC and Aurelian Ecuador S.A., a subsidiary of Lundin Gold Inc. She holds a bachelor’s degree in business administration from l’École des Hautes Études Commerciales of Montreal.

Dušan Petković, CFA, is Co-Founder and Senior Vice President, Corporate Strategy of G Mining Ventures. He is a financial market professional with over 15 years of experience in resource-based capital markets, including private equity, credit and investment banking. Before joining G Mining, he was a Principal of Private Debt at Sprott Resource Lending Corp. Before that, he spent time in mining investment banking, advising on IPOs, equity issuance and M&A. He earned a Bachelor of Commerce degree from Western University.