G Mining Ventures Completes First Draw on $75 Million Term Loan from Franco-Nevada
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All amounts are in USD unless stated otherwise
TSX: GMIN
OTCQX: GMINF
In connection with the draw on the term loan, GMIN provided evidence to Franco-Nevada that it has sufficient funding to fully satisfy the remaining Project costs required to achieve commercial production and Project completion.
Louis-Pierre Gignac, President & Chief Executive Officer, commented: "This is yet another significant milestone which demonstrates that the GMIN team has systematically de-risked the development and construction of Tocantinzinho, and has met the extensive list of obligations to access this funding from Franco-Nevada. We hope that our follow shareholders also take comfort that TZ remains on track and on budget for commercial production in H2-2024."
Updated satellite imagery and 360 photography showing the site progress is available through the corporate presentation at: https://vrify.com/decks/14338. A 3D presentation of the Project Feasibility Study is available at: Feasibility Study 3D VRIFY Presentation. Both presentations can be accessed by visiting GMIN's website at https://www.gminingventures.com.
G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) is a mining company engaged in the acquisition, exploration and development of precious metal projects, to capitalize on the value uplift from successful mine development. GMIN is well-positioned to grow into the next mid-tier precious metals producer by leveraging strong access to capital and proven development expertise. GMIN is currently anchored by its flagship Tocantinzinho Gold Project in mining friendly and prospective
For further information on GMIN, please visit the website at www.gminingventures.com
All statements, other than statements of historical fact, contained in this press release constitute "forward-looking information" and "forward-looking statements" within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release. Forward-looking statements contained in this press release include, without limitation, those related to (i) the Project being on track and on budget for commercial production in H2-2024; (ii) GMIN having sufficient funding to fully satisfy the remaining Project costs; and (iii) more generally, the section entitled "About G Mining Ventures Corp." as well as the Chief Executive Officer's comments, as quoted.
Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Such assumptions include, without limitation, those relating to the price of gold and currency exchange rates and those underlying the statements in the "About G Mining Ventures Corp." section.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that, notably but without limitation, the Corporation will (i) keep its expenditures and schedule in line to bring the Project into commercial production within budget in the second half of 2024, or at any time thereafter, or (ii) grow into the next intermediate producer, as future events could differ materially from what is currently anticipated by the Corporation.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in the Corporation's other filings with the securities regulators of
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SOURCE G Mining Ventures Corp
FAQ
What is the purpose of the $42 million drawn by G Mining Ventures Corp.?
What is the status of the $250 million gold stream?
When is the commercial production of the Tocantinzinho Gold Project expected?
Who is the President & Chief Executive Officer of G Mining Ventures Corp.?
