G Mining Ventures (TSX: GMIN) reported preliminary gold production of 31,846 ounces for the first quarter of 2026, a result that reflects a planned transition toward heavier waste stripping at its flagship Tocantinzinho mine in Brazil.
The quarterly output represents a 32.7% decrease compared to the 47,346 ounces produced in the final quarter of 2025. This dip is said to have been planned, as the company prioritized pit advancement and waste stripping to reach higher-grade ore expected later this year.
Operational data shows the mine processed ore at an average grade of 1.03 g/t during the quarter, down from the 1.49 g/t seen in the fourth quarter of 2025. Despite the lower grades, the facility maintained an average plant throughput of 11,811 tons per day and a gold recovery rate of 90.3%.
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Management noted that the increased strip ratio—which climbed to 4.40x during the period from the prior 2.45x—is a strategic move to access Phase 2 mineralization. This sequencing is designed to back-weight the year’s production, with approximately 62% of the annual output forecast for the second half of 2026.
Total gold sales for the quarter reached 33,776 ounces, slightly outpacing production figures. The company reaffirmed its full-year guidance of 160,000 to 190,000 ounces, suggesting a significant ramp-up in activity is on the horizon.
Full first quarter financial results are scheduled to be released on May 13 after the close of markets.
G Mining Ventures last traded at $56.00 on the TSX.
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