G Mining Ventures Provides Corporate Update
G Mining Ventures (GMIN) has completed the acquisition of the CentroGold Project from BHP in Brazil's Gurupi Gold Belt. The deal includes 47 tenements covering ~1,900 km² with 2.3 million ounces of JORC-compliant gold resources. In exchange, GMIN will grant BHP a 1.0% NSR royalty on the first 1 million ounces of gold produced and 1.5% thereafter.
The project's previous pre-feasibility study from July 2019 projected a 10-year mine life with annual gold production of 100,000-120,000 ounces, reaching 190,000-210,000 ounces in the first two years. GMIN plans to update the resource to NI 43-101 standards in Q1 2025.
Additionally, Vincent Benoit, Managing Partner and CIO of La Mancha, has been appointed to GMIN's Board of Directors.
G Mining Ventures (GMIN) ha completato l'acquisizione del Progetto CentroGold da BHP nella cintura aurifera di Gurupi in Brasile. L'affare include 47 concessioni che coprono circa 1.900 km² con 2,3 milioni di once di risorse aurifere conformi JORC. In cambio, GMIN concederà a BHP una royalty NSR dell'1,0% sulle prime 1 milione di once d’oro prodotto e dell'1,5% successivamente.
Lo studio di pre-fattibilità precedente del progetto, risalente a luglio 2019, prevedeva una durata della miniera di 10 anni con una produzione annuale d'oro di 100.000-120.000 once, raggiungendo 190.000-210.000 once nei primi due anni. GMIN prevede di aggiornare le risorse secondo gli standard NI 43-101 nel primo trimestre del 2025.
Inoltre, Vincent Benoit, Partner Gestore e CIO di La Mancha, è stato nominato nel Consiglio di Amministrazione di GMIN.
G Mining Ventures (GMIN) ha completado la adquisición del Proyecto CentroGold de BHP en el Cinturón de Oro de Gurupi en Brasil. El acuerdo incluye 47 concesiones que cubren aproximadamente 1.900 km² con 2,3 millones de onzas de recursos de oro compatibles con JORC. A cambio, GMIN otorgará a BHP una regalía NSR del 1,0% sobre las primeras 1 millón de onzas de oro producidas y del 1,5% después de eso.
El estudio de prefactibilidad previo del proyecto de julio de 2019 proyectó una vida útil de la mina de 10 años con una producción anual de oro de 100.000-120.000 onzas, alcanzando 190.000-210.000 onzas en los primeros dos años. GMIN planea actualizar el recurso a los estándares NI 43-101 en el primer trimestre de 2025.
Además, Vincent Benoit, Socio Director y CIO de La Mancha, ha sido nombrado miembro de la Junta Directiva de GMIN.
G Mining Ventures (GMIN)는 브라질 구루피 금 광대에서 BHP로부터 센트로골드 프로젝트를 인수 완료했습니다. 이 거래에는 약 1,900 km²를 커버하는 47개의 채굴 권리가 포함되어 있으며, JORC 준수 금 자원 2.3백만 온스가 포함되어 있습니다. GMIN은 BHP에 대한 첫 번째 100만 온스 금 생산에 대해 1.0% NSR 로열티를 부여하고 이후 1.5%를 부여할 것입니다.
2019년 7월의 이전 예비 타당성 연구는 10년의 광산 수명과 연간 100,000-120,000 온스의 금 생산을 예상했으며, 첫 두 해 동안 190,000-210,000 온스에 도달할 것으로 예상되었습니다. GMIN은 2025년 1분기 내에 NI 43-101 기준으로 자원을 업데이트할 계획입니다.
추가로, Vincent Benoit, La Mancha의 관리 파트너이자 CIO가 GMIN의 이사회에 임명되었습니다.
G Mining Ventures (GMIN) a achevé l'acquisition du Projet CentroGold auprès de BHP dans la ceinture aurifère de Gurupi au Brésil. L'accord comprend 47 permis couvrant environ 1.900 km² avec 2,3 millions d'onces de ressources aurifères conformes aux normes JORC. En échange, GMIN accordera à BHP une redevance NSR de 1,0% sur les 1 million d'onces d'or produites au départ et de 1,5% par la suite.
L'étude de préfaisabilité précédente du projet, datant de juillet 2019, prévoyait une durée de vie de mine de 10 ans avec une production annuelle d'or de 100.000-120.000 onces, atteignant entre 190.000 et 210.000 onces au cours des deux premières années. GMIN prévoit de mettre à jour la ressource selon les normes NI 43-101 au premier trimestre 2025.
De plus, Vincent Benoit, Associé Gérant et CIO de La Mancha, a été nommé au Conseil d'administration de GMIN.
G Mining Ventures (GMIN) hat den Erwerb des CentroGold-Projekts von BHP im Gurupi-Goldgürtel in Brasilien abgeschlossen. Der Deal umfasst 47 Konzessionen, die etwa 1.900 km² abdecken und 2,3 Millionen Unzen an JORC-konformen Goldressourcen beinhalten. Im Gegenzug gewährt GMIN BHP eine 1,0% NSR-Royalty auf die ersten 1 Million produzierten Unzen Gold und 1,5% danach.
Die vorherige Machbarkeitsstudie des Projekts aus Juli 2019 prognostizierte eine 10-jährige Lebensdauer der Mine mit einer jährlichen Goldproduktion von 100.000-120.000 Unzen, die in den ersten beiden Jahren 190.000-210.000 Unzen erreichen soll. GMIN plant, die Ressource im ersten Quartal 2025 nach NI 43-101-Standards zu aktualisieren.
Zusätzlich wurde Vincent Benoit, Managing Partner und CIO von La Mancha, in den Vorstand von GMIN berufen.
- Acquisition of CentroGold Project with 2.3M oz gold resource with no upfront cost
- Previous pre-feasibility study shows potential for 100-120K oz annual gold production
- District-scale land package with exploration upside potential
- Project remains open for expansion in all directions
- Resource update to NI 43-101 standards pending until Q1 2025
- Royalty obligations to BHP on all future gold production
Insights
The acquisition of CentroGold marks a strategic expansion of GMIN's gold portfolio, adding 2.3 million ounces of JORC-compliant resources through a zero upfront cost structure. The royalty-based payment model (
The district-scale land package of ~1,900 km² along an 80 km mineralized trend provides substantial exploration upside. The open-pit nature of the deposits and existing infrastructure in Brazil's mining-friendly Maranhão state suggest favorable economics. The Q1 2025 timeline for NI 43-101 resource update will be important for project advancement and market valuation.
The deal structure demonstrates sophisticated financial engineering - acquiring a substantial gold asset without immediate capital outlay aligns with optimal treasury management. The NSR structure effectively defers payment until production, reducing development risk. La Mancha's increased involvement through Vincent Benoit's board appointment brings valuable mining finance expertise and potential access to capital, given his track record in executing major mining combinations and balance sheet optimization at Endeavour Mining.
The transaction strengthens GMIN's project pipeline alongside Tocantinzinho and Oko West, positioning it for potential mid-tier producer status. The zero-cost acquisition preserves financial flexibility for ongoing development activities while adding significant resource optionality.
- Closes acquisition of the CentroGold Project in
Brazil 's prospective Gurupi Gold Belt from BHP - CentroGold contains 1.7 million ounces of indicated and 0.6 million ounces of inferred JORC-compliant gold resource that is open for expansion in all directions and at depth
- District-scale land package comprises 47 tenements covering ~1,900 km2 and offers potential for multiple new discoveries
- Accretive transaction adds to GMIN's project pipeline with no upfront cost
- Appointment of Vincent Benoit, Managing Partner and Chief Investment Officer of La Mancha, to its Board of Directors
CentroGold is located in the
GMIN plans to update the Project's JORC-compliant gold resource to meet National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") in Q1 2025.
Board Appointment
The Corporation is pleased to announce the appointment of Vincent Benoit, Managing Partner and Chief Investment Officer of La Mancha Capital Advisory LLP ("La Mancha"), to its Board of Directors, effective December 20, 2024. The GMIN Board of Directors is now comprised of 11 members.
Vincent Benoit has over 30 years of corporate finance, business development and M&A experience in the mining, telecom, and energy sectors. Vincent identified the opportunity to buy La Mancha and joined the company as Head of Strategy & Business Development in 2012. Between 2013 and 2015, he led La Mancha's portfolio restructuring and contributed to enhancing its mines' performance in
Previously, Vincent was at Orange (2006-2012), where he served as EVP M&A. He led the development of the group's footprint in
Vincent holds an MSc from Kedge Business School and is a Chartered Accountant.
About G Mining Ventures Corp.
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 the Tocantinzinho Gold Mine in
Additional Information
For further information on GMIN, please visit the website at www.gmin.gold.
Cautionary Statement on Forward-Looking Information
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) ; an gold resource at CentroGold remaining open for expansion in all directions and at depth; (ii) the acquired land package offering potential for multiple new discoveries; (iii) the Transaction being accretive for GMIN's project pipeline; (iv) the Project's 10-year mine life and production profile, as anticipated in its pre-feasibility study; (v) GMIN's plan to update the Project's JORC-compliant gold resource to meet NI 43-101 requirements; and (vi) more generally, Mr.
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, those outlined in the PEA and those underlying the items listed in the above section entitled "About G Mining Ventures Corp.".
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, (i) GMIN will achieve its stated objectives for the Project, or (ii) the Project will prove accretive to GMIN's project pipeline, or (iii) the 2.3 million ounces of JORC-compliant gold resources will meet the NI 43-101 requirements, or (iv) the Project's current resources will be expanded in all directions and at depth, (v) the Project will have a 10-year mine life or will be mined at all, or (vi) GMIN will use TZ and Oko West to grow into the next intermediate producer, as future events could differ materially from what is currently anticipated by the Corporation. In addition, there can be no assurance that
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 are the terms of GMIN's CentroGold acquisition from BHP?
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What is the expected annual gold production at GMIN's CentroGold Project?
When will GMIN (GMINF) update the CentroGold resource to NI 43-101 standards?
