G Mining Sees 2024 Production Of 63,566 Gold Ounces
The preliminary numbers are in for G Mining Ventures’ (TSX: GMIN) fourth quarter. The company reported gold production of 40,147 ounces for the three month period. Gold sold during the quarter meanwhile came in at 39,938 ounces.
The figures represent a beat on prior production targets, with the company previously calling for Q4 production of between 30,000 and 40,000 ounces as it continues to scale its operations.
For the full fiscal year, G Mining recorded total gold production of 63,566 gold ounces, which represents the first two quarters of production for the company. Full year gold sales meanwhile sit at 57,082 ounces.
Preliminary revenue numbers were not provided.
Looking to 2025, the firms Tocantinzinho mine is expected to ramp towards nameplate capacity in the first quarter, while in terms of exploration both greenfield and brownfield sites near the mine are expected to see exploration spend. Targets include a 15 kilometre untested parallel trend to the southwest, and underexplored portions of the main mineralized trend.
Detailed guidance is slated to be released later in Q1.
Elsewhere, G Mining also expected its recently acquired Oko West Gold Project in Guyana to see substantial development this year, with documentation for the environmental impact assessment submitted in November. The firm yesterday disclosed it intends to advance a number of early works activities this year, including the main access road, an airstrip, permanent camp facility and power generation among other items. A construction decision is expected to be made in the second half of 2025, along with the release of a feasibility study and financing package.
G Mining Ventures last traded at $12.26 on the TSX.
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