(Kitco News) - G Mining Ventures achieved commercial production in September, according to Louis-Pierre Gignac, the company's founder, president, and CEO.
Last month, Gignac spoke with Kitco Mining.
G Mining Ventures Corp. (TSX: GMIN) aims to grow into a mid-tier precious metals producer. Its flagship operations include the Tocantinzinho Gold Mine in Brazil and the Oko West project in Guyana.
In September, the company released a preliminary economic assessment for Oko, highlighting an after-tax NPV5% of $1.4 billion, an IRR of 21%, and a payback period of 3.8 years, based on a $1,950/oz base case for gold. The company plans to submit permit applications by the end of the year and aims to release a feasibility study in the first quarter of 2025.
Tocantinzinho reached commercial production in September and is designed for a 10.5-year mine life, with an average annual gold production of 174,700 ounces, increasing to 196,200 ounces for the first five full years.
Gignac noted that when Oko operates alongside Tocantinzinho, G Mining Ventures will become an intermediate gold producer.
"We have set a target of 500,000 ounces of production as the next milestone to achieve intermediate producer status," Gignac said. "The combination of Tocantinzinho and Oko will enable us to reach that goal."
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