G Mining Ventures Corp. Makes Strides with Oko West Gold Plans

Exciting Progress for G Mining Ventures Corp.

G Mining Ventures Corp. (TSX: GMIN, OTCQX: GMINF) has recently provided an impressive Preliminary Economic Assessment (PEA) for its wholly owned Oko West Gold Project. This assessment outlines a bright future for the project, showcasing strong financial metrics and significant job creation, all while making strides in sustainable mining practices.

Robust Financial Metrics

The PEA indicates an after-tax NPV of $1.4 billion with an internal rate of return (IRR) of 21%. These figures are particularly compelling considering the base case gold price of $1,950 per ounce. If market conditions rise favorably to a $2,500 per ounce gold price, the after-tax NPV could escalate to a remarkable $2.5 billion with an IRR of 31%. This showcases the project's potential in a favorable economic landscape.

Production and Resource Details

G Mining Ventures expects to produce an average of 353,000 ounces of gold annually over a mine life of 12.7 years. With an all-in sustaining cost (AISC) estimated at $986 per ounce, the project promises robust profitability, placing it in the lower quartile of global gold production costs. The PEA also highlights the extraction of approximately 4.8 million ounces of gold within its resource estimates.

Plant Design and Operational Overview

The Oko West project will employ a mixed-method approach involving both open-pit and underground mining techniques. The processing plant is designed to handle 6.0 million tonnes per year, incorporating conventional methods such as cyanide leach processes for optimal recovery rates. During the operation, the project anticipates a principle feed coming from open-pit mining initially, transitioning to significant contributions from underground operations in subsequent years.

Job Creation and Economic Benefits

The Oko West Gold Project is set to generate approximately 1,260 permanent jobs, contributing substantially to local employment and economic development. This initiative aligns with G Mining Ventures' commitment to bringing value to the community, promising a positive economic footprint in the region.

Next Steps and Timelines

Looking forward, G Mining aims to submit an Environmental and Social Impact Assessment (ESIA) by the end of the year and is progressing towards initiating a comprehensive feasibility study in early 2025. This study aims to assess and validate the operational plans and anticipated production outcomes for Oko West, with commercial production targeted for 2028.

Environmental and Permitting Efforts

The project has undertaken extensive environmental assessments to ensure compliance with regulations and to identify the potential social and environmental impacts associated with the mining operations. G Mining coaches all of its permittings through ongoing dialogue with local stakeholders and regulatory bodies, fostering transparent communication throughout the project's lifecycle.

Company Commitment and Operational Excellence

As G Mining Ventures continues to advance the Oko West Gold Project, its operational strategy is backed by proven development expertise and a solid financial foundation. By leveraging its success with the Tocantinzinho Gold Mine in Brazil, G Mining looks to replicate this achievement at Oko, aiming for excellence in both production and environmental stewardship.

Frequently Asked Questions

What is the projected NPV for the Oko West project?

The projected after-tax NPV is $1.4 billion at a base case gold price of $1,950 per ounce.

How many jobs will the Oko West project create?

Approximately 1,260 direct permanent jobs are expected to be created from the project.

What are the estimated annual gold production figures?

The project estimates an average annual production of 353,000 ounces of gold over its initial mine lifecycle.

What methods will be used for gold extraction?

The project employs both conventional open pit and underground mining techniques for resource extraction.

What environmental measures are in place for the project?

G Mining is conducting comprehensive environmental assessments to ensure project sustainability and compliance with regulatory standards.

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