Monday, October 6, 2025

G Mining Secures Up To US$537.5 Million For Construction Of Oko West

G Mining Ventures (TSX: GMIN) is claiming this morning that they have secured the funds required for the construction of their Oko West Gold project in Guyana. The statement follows the company securing a financing package for the project.

The package itself is for an initial US$387.5 million, which is said to have the potential to increase by a further US$150 million six months after closing, bringing total funding to US$537.5 million. The package is backed by a syndicate of financial institutions led by National Bank and Macquarie Bank that will provide US$350 million in funding via a credit facility, with an additional accordion feature that allows up to US$150 million to be borrowed.

The facility is to have an initial term of up to 3 years from closing, with annual extension options. The facility bears interest at a rate of SOFR plus 2.75% to 3.75%, alongside a 0.10% credit spread adjustment, with final rates dependent upon G Mining’s net leverage ratio.

A separate arrangement with a subsidiary of Komatsu meanwhile allows for a master loan and security agreement that provides up to US$37.5 million for the procurement of mining and construction equipment for the development of Oko West.

WATCH: G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

Funding is expected to be combined with cash flow from the Tocantinzinho Mine to meet the US$972 million in initial upfront capital estimated to be required for the construction of Oko West.

“With these financing arrangements in place, together with strong cash flow from the Tocantinzinho Mine, we now have the financial resources required to bring Oko West into production,” stated Julie Lafleur, VP Finance & Chief Financial Officer.

A final investment decision is expected to be made on Oko West later this month, with that announcement to be accompanied by forecasted initial capital costs, investment already incurred for construction, and the expected remaining expenditures.

G Mining last traded at $29.47 on the TSX.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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