G Mining Ventures (TSX: GMIN) produced 44,960 ounces of gold in the third quarter of 2026 at its Tocantinzinho mine in Brazil, a 22% increase over the prior quarter as higher grades and improved recoveries worked their way through the mill.
The company sold 43,110 ounces during the period, according to preliminary results released Thursday.
The processing plant averaged 12,372 tonnes per day, ahead of the 11,770 tonne year to date average, while head grades came in at 1.33 g/t gold and recoveries reached 92.0%. All three marked the operation’s strongest quarterly results of 2026, and the recovery rate sits slightly above the 91.7% the company budgeted for the full year. Mining rates averaged 74,209 tonnes per day, a 7% gain over the second quarter, with a strip ratio of 2.47.
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The year over year comparison is less favourable. Output came in roughly 3% below the 46,360 ounces produced in the third quarter of 2025, when the mill processed ore grading 1.43 g/t gold.
Year to date, Tocantinzinho has produced 113,651 ounces and sold 114,325 ounces. The company said that keeps it on track for the midpoint of its 2026 guidance of 160,000 to 190,000 ounces, a range set in January with about 62% of output expected in the second half.
Reaching the 175,000 ounce midpoint requires roughly 61,350 ounces in the fourth quarter, about 36% more than the mine just delivered. President and CEO Louis-Pierre Gignac said mining remains aligned with the mine plan and is opening up higher-grade Phase 2 material, which he expects will position the operation “for a significant increase in grade and production in Q4.”
Gignac described the quarter as delivering the step-up in production the company had expected, and said he anticipates carrying that momentum into 2027, when guidance calls for 200,000 to 235,000 ounces from Tocantinzinho alone. The miner is also building its Oko West project in Guyana, which is slated for first gold in the second half of 2027.
G Mining will report full third quarter financial and operating results after market close on November 12.
G Mining Ventures last traded at $48.32 on the TSX.
