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G Mining Ventures Reports Third Quarter 2024 Production and Financial Results

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G Mining Ventures reported its Q3 2024 production and financial results, marking its first quarter as a gold producer. The company achieved commercial production at its Tocantinzinho (TZ) gold mine on September 1, 2024, producing 22,071 ounces of gold at an AISC of $1,226 per ounce. Financial highlights include revenue of $43 million, net income of $24.3 million, and EBITDA of $25.7 million. The company sold 17,144 ounces at an average price of $2,508 per ounce, with remaining production sold in October. Q4-2024 gold production outlook is projected between 30,000 and 40,000 ounces.

G Mining Ventures ha riportato i risultati di produzione e finanziari del terzo trimestre del 2024, segnando il suo primo trimestre come produttore d'oro. L'azienda ha raggiunto la produzione commerciale presso la sua miniera d'oro Tocantinzinho (TZ) il 1° settembre 2024, producendo 22.071 once d'oro con un AISC di 1.226 dollari per oncia. I punti salienti finanziari includono ricavi di 43 milioni di dollari, un reddito netto di 24,3 milioni di dollari e un EBITDA di 25,7 milioni di dollari. L'azienda ha venduto 17.144 once a un prezzo medio di 2.508 dollari per oncia, con la restante produzione venduta in ottobre. Le previsioni di produzione d'oro per il Q4-2024 sono comprese tra 30.000 e 40.000 once.

G Mining Ventures informó sobre sus resultados de producción y financieros del tercer trimestre de 2024, marcando su primer trimestre como productor de oro. La compañía alcanzó la producción comercial en su mina de oro Tocantinzinho (TZ) el 1 de septiembre de 2024, produciendo 22,071 onzas de oro con un AISC de 1,226 dólares por onza. Los aspectos financieros destacados incluyen ingresos de 43 millones de dólares, un ingreso neto de 24.3 millones de dólares y un EBITDA de 25.7 millones de dólares. La empresa vendió 17,144 onzas a un precio promedio de 2,508 dólares por onza, y la producción restante se vendió en octubre. La perspectiva de producción de oro para el Q4-2024 se proyecta entre 30,000 y 40,000 onzas.

G Mining Ventures는 2024년 3분기 생산 및 재무 결과를 보고하며, 금 생산자로서의 첫 분기를 기념합니다. 회사는 2024년 9월 1일 Tocantinzinho (TZ) 금광에서 상업 생산을 달성했으며, 22,071 온스의 금을 생산했으며 AISC는 온스당 1,226달러입니다. 재무 하이라이트로는 4,300만 달러의 수익, 2,430만 달러의 순익, 2,570만 달러의 EBITDA가 포함됩니다. 회사는 평균 2,508달러의 가격으로 17,144온스를 판매했으며, 나머지 생산물은 10월에 판매되었습니다. 2024년 4분기 금 생산 전망은 30,000 온스에서 40,000 온스 사이로 예상됩니다.

G Mining Ventures a annoncé ses résultats de production et financiers du troisième trimestre 2024, marquant son premier trimestre en tant que producteur d'or. La société a atteint la production commerciale de sa mine d'or Tocantinzinho (TZ) le 1er septembre 2024, produisant 22 071 onces d'or avec un AISC de 1 226 dollars par once. Les faits marquants financiers incluent des revenus de 43 millions de dollars, un revenu net de 24,3 millions de dollars et un EBITDA de 25,7 millions de dollars. L'entreprise a vendu 17 144 onces à un prix moyen de 2 508 dollars par once, le reste de la production ayant été vendu en octobre. Les prévisions de production d'or pour le Q4-2024 sont estimées entre 30 000 et 40 000 onces.

G Mining Ventures berichtete über seine Produktions- und Finanzergebnisse für das 3. Quartal 2024, was das erste Quartal als Goldproduzent markiert. Das Unternehmen erreichte am 1. September 2024 die kommerzielle Produktion in seiner Goldmine Tocantinzinho (TZ) und produzierte 22.071 Unzen Gold bei einem AISC von 1.226 Dollar pro Unze. Zu den finanziellen Highlights gehören Einnahmen von 43 Millionen Dollar, ein Nettogewinn von 24,3 Millionen Dollar und ein EBITDA von 25,7 Millionen Dollar. Das Unternehmen verkaufte 17.144 Unzen zu einem Durchschnittspreis von 2.508 Dollar pro Unze, die restliche Produktion wurde im Oktober verkauft. Der Produktionsausblick für Gold im 4. Quartal 2024 wird auf zwischen 30.000 und 40.000 Unzen geschätzt.

Positive
  • Achieved commercial production at TZ gold mine with 22,071 ounces produced
  • Strong financial performance with $43M revenue and $24.3M net income
  • Healthy profit margins with cash costs of $879/oz and AISC of $1,226/oz
  • Solid cash position of $104.6M as of September 30, 2024
  • High average realized gold price of $2,508 per ounce
Negative
  • Free cash flow negative at -$6.2M for Q3 2024
  • Operating cash flows decreased to $1.66M compared to $61.28M in Q3 2023
  • Gold recovery rate of 84.5% below target of 90%

All amounts are in USD unless stated otherwise

BROSSARD, QC, Nov. 14, 2024 /PRNewswire/ - G Mining Ventures Corp. ("GMIN" or the "Corporation" or "we") (TSX: GMIN) (OTCQX: GMINF) is pleased to, for the first time, report its production and financial results for the three and nine months ended September 30, 2024, and provide an operational update.

"I am proud to reflect on the significant milestones achieved this quarter, from our first gold pour and the launch of commercial production at TZ, to the release of robust PEA results for the generational Oko West project, to the acquisition of the highly prospective CentroGold project in Brazil," commented Louis-Pierre Gignac, President & Chief Executive Officer, "These results mark important steps in GMIN's evolution from developer to producer, and reflect our strategic execution, backed by a skilled management team, strong partnerships, and a multi-asset portfolio of long-life, low-cost operations that offer multiple value-creation catalysts. As we approach 2025, we are focused on expanding production at TZ, advancing Oko West's feasibility study, and finalizing the CentroGold acquisition to drive continued growth."

  • Gold production of 22,071 ounces at AISC of $1,226 per ounce sold
  • 17,144 ounces of gold sold during the quarter at average realized price per ounce of $2,508
  • Net Income of $24.3 million and EBITDA of $25.7 million
  • Earnings per share of $0.12

Q3 2024 Highlights

Safety:

  • Strong safety performance to deliver the Tocantinzinho ("TZ") gold mine with a Lost Time Incident Frequency Rate and Total Recordable Incident Frequency Rate of 0.03 and 0.17, respectively, after a total of 5.8 million person-hours worked.

Operational Results:

  • Achieved commercial production at TZ gold mine on September 1, 2024, resulting in one month of commercial production preceded by two months of commissioning during the quarter
  • Invested total capital expenditures of $456.9 million to bring TZ to commercial production (1) (2)
  • Produced 22,071 ounces ("oz") of gold ("Au") in Doré during the quarter
  • Mined 4.7 million tonnes ("Mt") during the quarter, including 1.8 Mt of ore grading 0.98 g/t with an average waste to ore strip ratio of 1.55
  • Processed 716,000 tonnes of ore at an average grade of 1.20 g/t with an average recovery rate of 84.5%
  • Sold 17,144 oz of gold at average realized price per ounce of $2,508, with the rest of the Q3 production sold in October

_________________________________

1 All production numbers are based on the third quarter of 2024 data compiled for the two months of commissioning (July and August), and one month of commercial production (September).

2 Inclusive of pre-production revenue and pre-production costs

Financial Results:

  • Revenue of $43 million during the quarter (includes commissioning period)
  • Cash costs and all-in sustaining costs ("AISC") of $879/oz and $1,226/oz, respectively (includes commissioning period)
  • Net income of $24.3 million
  • Earnings before Interest, Taxes, Depreciation and amortization ("EBITDA") of $25.7 million
  • Basic and Diluted Earnings per share ("EPS") of $0.12
  • Cash and cash equivalents of $104.6 million

Consolidated Financial and Operational Summary


Three months ended
September 30

Nine months ended

September 30


In thousands of $, except as otherwise noted

2024

2023

2024

2023


Operating Results







Gold Produced

oz

22,071

-

22,071

-


Gold Sold

oz

17,144

-

17,144

-


Total Cash Costs3

$/oz

879

-

879

-


All-in Sustaining Costs3

$/oz

1,226

-

1,226

-


Average Realized Gold Price3

$/oz

2,508

-

2,508

-


Financial Results







Revenue

$

42,997

-

42,997

-


Cost of Goods Sold

$

(18,350)

-

(18,350)

-


Cash Margin3

$

27,919

-

27,919

-


Net Income (Loss)

$

24,307

(1,106)

14,408

(5,730)


Per Share – Basic

$/share

0.12

(0.01)

0.10

(0.05)


Per Share - Diluted

$/share

0.12

(0.01)

0.10

(0.05)


Adjusted Net Income (Loss)3

$

17,131

(1,177)

13,130

(4,120)


Per share – Basic

$/share

0.09

(0.01)

0.09

(0.04)


Per share - Diluted

$/share

0.08

(0.01)

0.09

(0.04)


EBITDA3

$

25,727

(1,106)

15,828

(5,730)


Adjusted EBITDA3

$

25,525

(1,177)

21,524

(4,120)


Operating cash flows

$

1,660

61,284

(14,909)

241,734


Per share – Basic

$/share

0.01

0.55

(0.10)

2.16


Per share - Diluted

$/share

0.01

0.55

(0.10)

2.16


Free Cash Flows3

$

(6,239)

61,284

(22,808)

241,734


Per share – Basic

$/share

(0.03)

0.55

(0.16)

2.16


Per share - Diluted

$/share

(0.03)

0.55

(0.16)

2.16


_________________________________

3 These measures are non-IFRS financial measures. Refer to section "Non-IFRS Financial Performance Measures" in the associated MD&A for further information and a detailed reconciliation to comparable IFRS measures.

Cash Waterfall for 3 months ending Sept 30, 2024 (in thousands of dollars) (CNW Group/G Mining Ventures Corp)

Liquidity and Capital Resources

GMIN has cash and cash equivalents of $104.6 million as at September 30, 2024 with available equipment financing facility credit of $7.8 million to finance the purchase of equipment related to sustaining capital.

The cash balance as at September 30, 2024 reflects the gross proceeds of $50.0 million received from private placements and $55.9 million received from the exercise of warrants and options during the nine month period ending at the same date.

TZ Mine Review

In Q3-2024, GMIN produced 22,071 oz of gold at TZ and sold 17,144 oz, with the rest sold in October.  At the end of Q3-2024 gold in-circuit inventory of 1,348 ounces was cumulated. The plant achieved several days above 100% of nameplate capacity and we continue to work on increasing plant availability. All aspects of the process plant including crushing, gravity, flotation and leaching circuits are performing well having yielded an average recovery of 84.5% for Q3-2024 with higher recoveries of approximately 90% targeted for Q4-2024 in line with estimates in the Feasibility Study ("FS") dated February 09, 20224.

During the third quarter of 2024, the drilling programs at the mine focused on regional exploration targets. These targets were identified through geophysics, geochemical soil anomalies, general knowledge of the Tapajos Region and evidence of past artisanal mining and are part of GMIN's exploration strategy to extend the mine life and add additional deposits within 15 km of the mine infrastructure.

________________________________

4 Filed under GMIN's profile on SEDAR+ at www.sedarplus.ca, entitled "Feasibility Study – NI 43-101 Technical Report, Tocantinzinho Gold Project."

Oko West Project Review

On July 15, 2024, the Corporation announced that the transaction between GMIN and Reunion Gold Corporation has been completed, representing the addition of the Guyana-based Oko West gold project, into the Corporation's portfolio of high-quality gold assets.

During Q3-2024, GMIN also reported preliminary economic assessment ("PEA") results for the Oko West gold project, demonstrating after-tax net present value at 5% of US$1.4 billion, internal rate of return of 21% and a payback period of 3.8 years at $1,950/oz base case gold price (long-term consensus). The average annual gold production is estimated to be 353,000 ounces at an AISC of $986/oz over a 12.7-year mine life. The initial capital cost is estimated to be $936 million, with sustaining capital costs of $537 million over the life of mine (see news release dated September 9, 2024).

This year, the exploration and drilling strategy focused on expanding resources at Oko West to better delineate mineralized structures within the pit footprints and to explore the Oko West property to identify other deposits on the land package. During the quarter, a definition drilling program was completed at Oko West in support of the upcoming Feasibility Study. Additionally, a new regional exploration drilling program began at Oko West to investigate structures identified through geophysics and geochemical soil anomalies.

Corporate Update and Outlook

GMIN continues to execute its "Buy. Build. Operate." strategy. The Corporation's strategic focus remains identifying and developing quality advanced-stage precious metals projects in Tier 1 jurisdictions that demonstrate a path to near-term production.

In Q3-2024, GMIN entered into a purchase and sale agreement to acquire tenements in the Gurupi Gold Belt from wholly owned subsidiaries of BHP Group Limited ("BHP"). In consideration for the acquisition, the Corporation granted BHP a 1.0% NSR royalty on the first million ounces of gold produced at the tenements and a 1.5% NSR royalty on gold production thereafter (the "Transaction"), which is expected to result in little to no share dilution. The Transaction is expected to close during the first quarter of 2025, which is expected to be followed by the publication of a National Instrument 43-101 ("NI 43-101") compliant resource also planned for the first quarter of 2025.

At TZ, the objective for the remainder of the year is to continue ramping up plant throughput towards the nominal nameplate capacity of 12,890 tpd, with Q4-2024 gold production outlook expected to be between 30,000 and 40,000 oz of gold. GMIN plans to provide 2025 annual production and cost guidance in January 2025.

Mining activities are performing according to plan and procurement activities for the addition of a third primary loading unit and three additional mine trucks to bring the fleet size to 19 will be completed during Q4-2024. Commissioning of these additional units is anticipated in the second half of 2025, which will allow the mine to reach a mining rate of 77,150 tpd in 2025.

At Oko West, GMIN plans to submit the environmental and social impact assessment for the project during the fourth quarter of 2024, while advancing towards a FS in Q1-2025.

Several FS workstreams are in progress at Oko West. These workstreams include the completion of infill drilling and updated mineral resource estimates; geotechnical recommendations for the open pit slopes and underground workings; mine design optimization, mineral reserve estimation, production planning and final equipment selection;  metallurgical test work programs to support the FS level engineering, flowsheet design, recovery expectations and equipment selection; and procurement activities related to long lead items such as primary crusher, grinding mills and power generators will be an immediate focus along with several packages to support early works activities.

Qualified Person

Louis-Pierre Gignac, President & Chief Executive Officer of GMIN, a QP as defined in NI 43-101, has reviewed the press release on behalf of the Corporation and has approved the technical disclosure contained in this press release.

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 Brazil and Oko West Project in Guyana, both mining friendly and prospective jurisdictions.

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) the targeted higher recoveries at TZ for Q4 2024; (ii) GMIN's exploration strategy to extend mine life at TZ; (iii) the PEA results and various assumptions set out therein; (iv) exploration programs at Oko West and expectations in respect thereof; (v) GMIN closing the Transaction in Q1 2025; (vi) GMIN's plans to update Gurupi tenements' existing resource to NI 43-101 standards; (vii) GMIN's priorities to ramp up the TZ plant to nameplate capacity and to advance Oko West through the FS; (viii) the planned addition of equipment at TZ; (ix)  the quoted comments and expectations of GMIN's President & Chief Executive Officer; and * more generally, the sections entitled "Corporate Update and Outlook" and "About G Mining Ventures Corp.".

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 feasibility and other technical studies (e.g., the PEA) relating to the TZ mine and GMIN's other projects, and those underlying the items listed on the above sections entitled "Corporate Update and Outlook" and "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's positive safety record will continue over time, (ii) any of GMIN's exploration targets at TZ and Oko West will lead to additional resources and eventually to gold production, (iii) the expected TZ mine life and annual gold production will materialize, (iv) GMIN's outlook, as set out in the section entitled "Corporate Update and Outlook" will materialize, (v) GMIN's asset portfolio will ultimately turn into high-quality gold assets, (vi) GMIN will finalize and submit the FS (and other technical reports) in a timely manner, or 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 Brazil and/or Guyana will remain mining friendly and prospective jurisdictions. 

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 Canada including, but not limited to, the cautionary statements made in the relevant sections of the (i) Annual Information Form of G Mining TZ Corp. (then known as G Mining Ventures Corp.) dated March 27, 2024, for the financial year ended December 31, 2023, (ii) Annual Information Form of Reunion Gold dated April 25, 2024, for the financial year ended December 31, 2023, and (iii) Management Discussion & Analysis. The Corporation cautions that the foregoing list of factors that may affect future results is not exhaustive, and new, unforeseeable risks may arise from time to time. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

Consolidated Statements of Financial Position
(Unaudited – Tabular amounts expressed in Thousands of United States Dollars)


September 30, 2024


December 31, 2023

Assets

$


$

Current




Cash and Cash Equivalents

104,602


52,398

Receivables and Other Current Assets

7,738


1,788

Inventories

52,572


7,967

Prepaid Expenses and Deposits

1,283


1,270


166,195


63,423

Non-current




Deferred Financing Fees

826


3,359

Long Term Deposits on Equipment

849


10,402

Property, Plant & Equipment and Mineral Property

596,263


503,663

Exploration and Evaluation Assets

729,339


4,537

Investment in Associate

2,326


-

Other Non-current Assets

31,828


2,321

Deferred Tax Assets

6,974


-


1,534,600


587,705





Liabilities




Current




Accounts Payable and Accrued Liabilities

35,405


27,030

Current Portion of Contract Liability

41,659


14,549

Current Portion of Lease Liability

201


74

Current Portion of Long-term Debt

19,946


7,515

Deferred Consideration

60,000


-

Derivative Warrant Liability

8,724


4,235


165,935


53,403

Non-current




Long-term Contract Liability

219,540


240,783

Long-term Debt

93,397


24,828

Long-term Liability

-


1,298

Long-term Lease Liability

400


241

Rehabilitation Provision

4,434


4,113


317,771


271,263

Shareholders' Equity




Share Capital

1,054,324


247,870

Share-based Payments Reserve

20,899


4,143

Accumulated Other Comprehensive Income (Loss)

(25,562)


24,083

Retained Earnings (Deficit)

1,233


(13,057)


1,050,894


263,039


1,534,600


587,705

Consolidated Statements of Income (Loss) and Comprehensive Income (Loss)
(Unaudited - Tabular amounts expressed in Thousands of United States Dollars, except for number of shares)


Three Months Ended September 30,

Nine Months Ended September 30,


2024

2023

2024

2023


$

$

$

$

Revenue

42,997

-

42,997

-






Cost of Goods Sold

(18,350)

-

(18,350)

-






Income from Mining Operations

24,647

-

24,647

-






Other Expenses

 

 

 





General & Administration Expenses


2,850


1,825


7,021


5,429

Finance Expenses


2,053


-


2,053


-

Change in Fair Value of Financial Instruments


(542)


229


4,548


1,972

Other (Income) Expenses


(116)


(948)


522


(1,671)



(4,245)


(1,106)


(14,144)


(5,730)










Income (Loss) Before Income Tax


20,402


(1,106)


10,503


(5,730)










Current and Deferred Income Tax Recovery


3,905


-


3,905


-










Net Income (Loss) for the Period


24,307


(1,106)


 

14,408


(5,730)










Currency Translation Adjustment


22,854


(19,506)


(49,645)


6,998

Net Comprehensive Income (Loss) for the Period


47,161


(20,612)


(35,237)


1,268

Net Income (Loss) per Share









Basic


0.12


(0.01)


0.10


(0.05)

Diluted


0.12


(0.01)


0.10


(0.05)

Weighted Average Number of Common Shares









Basic


201,351,009


111,879,265


142,406,155


111,879,265

Diluted


204,752,373


111,879,265


145,534,886


111,879,265











Consolidated Statements of Cash Flows
(Unaudited - Tabular amounts expressed in Thousands of United States Dollars)


Three Months Ended

Nine Months Ended


September 30, 2024

September 30, 2023

September 30, 2024

September 30, 2023

Operating Activities


$

$


$

$

Net Income (Loss) for the Period


24,307


(1,106)


14,408


(5,730)

Items Not Involving Cash









Depreciation


3,426


24


3,505


67

Share-based Compensation


558


445


926


1,291

Unrealized Foreign Exchange (Gain) Loss


324


(309)


1,126


(375)

Standby Fees


21


257


48


699

Cumulative Catch-up Adjustment on Gold Streaming Agreement


(272)


-


(272)


-

Depletion of the Deposit on Gold Streaming Agreement


(1,628)


-


(1,628)


-

Finance Expenses


2,053


-


2,053


-

Change in Fair Value of Derivative Warrant Liability


(526)


238


4,570


1,985

Deferred Income Tax Recovery


(6,974)


-


(6,974)


-

Accretion Expense of Rehabilitation Provision


123


80


370


170



21,412


(371)


18,132


(1,893)

Proceeds from Gold Streaming Agreement


-


66,192


-


250,000

Changes in Non-cash Working Capital









Receivables and Other Current Assets


(794)


(311)


(1,699)


(565)

Inventories


(14,220)


(3,482)


(30,861)


(5,443)

Prepaid Expenses and Deposits


(122)


(492)


69


(627)

Accounts Payable and Accrued Liabilities


(4,616)


(252)


(550)


262

Cash Provided by (Used in) Operating Activities


1,660


61,284


(14,909)


241,734

Investing Activities









Acquisition of Reunion Gold, Net of Cash Acquired


21,067


-


21,067


-

Receivables and Other Non-current Assets


(104)




(104)


-

Additions of Property, Plant & Equipment and Mineral Property, Net of Long-term Deposits


(7,885)


(82,820)


(109,779)


(229,066)

Proceeds on Disposal of Property, Plant & Equipment and Mineral Property


-


-


-


14

Exploration and Evaluation Expenditures


(425)


(1,758)


(4,829)


(3,192)

Cash Provided by (Used in) Investing Activities


12,653


(84,578)


(93,645)


(232,244)

Financing Activities









Shares Issued for Cash


50,000


-


50,000


-

Share Issue Cost


(77)


-


(77)


-

Replacement Options Exercised


1,620


-


1,620


-

Repayment of Lease Liability


(14)


(9)


(77)


(23)

Repayment of Long-term Debt


(4,889)


(1,451)


(7,236)


(2,463)

Deferred Financing Fees


-


(31)


(29)


(204)

Net Proceeds from the Drawdowns of Long-term Debt


5,177


-


82,025


21,886

Proceeds from the Exercise of Warrants


40,118


-


50,765


-

Cash Provided by (Used in) Financing Activities


91,935


(1,491)


176,991


19,196

Effect on Foreign Exchange Rate Differences on Cash and Cash Equivalents


(14,703)


(990)


(16,233)


1,240

Increase (Decrease) in Cash and Cash Equivalents


91,545


(25,775)


52,204


29,926

Cash and Cash Equivalents, Beginning of the Period


13,057


137,593


52,398


81,892

Cash and Cash Equivalents, End of the Period


104,602


111,818


104,602


111,818











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SOURCE G Mining Ventures Corp

FAQ

What was G Mining Ventures (GMINF) gold production in Q3 2024?

G Mining Ventures produced 22,071 ounces of gold during Q3 2024, with 17,144 ounces sold at an average price of $2,508 per ounce.

When did G Mining Ventures (GMINF) achieve commercial production at TZ mine?

G Mining Ventures achieved commercial production at the Tocantinzinho (TZ) gold mine on September 1, 2024.

What is G Mining Ventures (GMINF) Q4 2024 production guidance?

G Mining Ventures expects Q4 2024 gold production to be between 30,000 and 40,000 ounces of gold.

What was G Mining Ventures (GMINF) net income for Q3 2024?

G Mining Ventures reported a net income of $24.3 million for Q3 2024, with earnings per share of $0.12.

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