G Mining Ventures Achieves Significant Milestones in 2024

Author: Evelyn Baker Updated: 03-28-2025 06:56 AM

G Mining Ventures Reports Fourth Quarter and Year-End Results

G Mining Ventures Corp. (TSX: GMIN) continues to show strong performance as they unveil their production and financial results. Notably, this report discusses the company's accomplishments for the fourth quarter and full year ended December 31, 2024.

Fourth Quarter Highlights

This quarter marked the company's first full quarter of commercial production. G Mining achieved an impressive output of 40,147 ounces of gold in Doré form, with 39,938 ounces sold. This highlights their capability in mining operations and sets a solid foundation for future quarters.

Financial Overview

Operating Costs: All-in sustaining costs (AISC) were $862 per ounce sold.
Net Income: Totaled $47.6 million, translating to $0.21 per share.
Adjusted Net Income: Reached $58.0 million, or $0.26 per share.
Adjusted EBITDA: Stood at $77.9 million, reflecting operational efficiency.
Free Cash Flow: Generated $53.0 million, allowing strategic investments for growth.
Cash Position: Ended the year with $141.2 million in cash and cash equivalents.

Transformational Year for G Mining

Commenting on the results, Louis-Pierre Gignac, President & CEO, stated, "2024 marked a transformational year for GMIN as we executed all phases of our 'Buy. Build. Operate.' Strategy. Our focus on generating significant free cash flow allows for financial flexibility and sets us up for future expansion." Following the acquisition of the Oko West project, G Mining Ventures is positioned to significantly increase its annual production capacity.

Operational Achievements

The company's operational metrics are equally impressive. During 2024, G Mining achieved:

Mining operations resulted in a remarkable total of 14.3 million tonnes mined, inclusive of 6.4 million tonnes of ore.
The strip ratio for the year was maintained at a low 1.23, showcasing efficient resource extraction.
Plant throughput averaged 10,523 tonnes per day, with strong recovery rates of over 89.2% for Q4.

Future Outlook and Growth Strategies

Looking forward, the expectation is that GMIN will continue to build on their successes with further advancements planned in 2025. Critical milestones include the development of the Oko West project, with a feasibility study slated for publication. This will help unlock additional production capabilities and expand GMIN’s footprint in the gold mining space.

Strategic Initiatives

Continued investment in the Tocantinzinho Mine to enhance operational efficiencies.
Early works commenced for the Oko West project, including vital infrastructure preparations.
Ongoing exploration initiatives aimed at increasing the company's resources and supporting long-term growth.

Frequently Asked Questions

What are the key financial results for G Mining Ventures in 2024?

G Mining Ventures reported a net income of $47.6 million for 2024, with an AISC of $862 per ounce sold.

How much gold did G Mining produce in the fourth quarter?

In Q4, G Mining produced 40,147 ounces of gold in Doré form.

What are the company's future plans for the Oko West project?

G Mining plans to publish a feasibility study for Oko West in April 2025 which aims to expand the project and increase production.

How has G Mining's production performance changed over the year?

The company has ramped up production significantly, reaching 63,566 ounces of gold for the entire year.

What strategic initiatives is G Mining focusing on for growth?

G Mining is focusing on operational efficiencies at existing projects and expanding through strategic growth initiatives in 2025.

About The Author

Greetings, I'm 32-year-old author and financial specialist Evelyn Baker. My introduction into the financial industry started with an economics degree and continued with a wealth of experience in wealth management and financial consulting. My great passion over the years has been assisting people and companies in making wise, well-informed decisions to reach their financial objectives.

My goal with writing is to simplify difficult financial ideas into understandable, doable guidance. My goal in writing many books and articles is to make personal finance understandable to everyone, irrespective of their experience or background. I want to give readers the information they need to take charge of their financial futures, from investing and retirement planning to budgeting and saving.

Along with my writing, I lead webinars and workshops where I provide doable advice and methods for achieving financial success. To reach a larger audience, I also frequently contribute to financial blogs and publications. My method is always to offer doable, real-world guidance that can actually improve people's lives.

Aside from my job, I like to cook, travel, and experience other cultures. I work hard to apply my belief in the value of a balanced life to my financial counsel. My goal in working is to encourage and enable people to succeed financially so they may lead the best lives possible.

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