G Mining Ventures Corp ( (GMINF) ) has released its Q4 earnings. Here is a breakdown of the information G Mining Ventures Corp presented to its investors.
G Mining Ventures Corp. is a mining company focused on the acquisition, exploration, and development of precious metal projects, aiming to grow into a mid-tier precious metals producer. The company has reported its financial results for the fourth quarter and full year of 2024, marking a significant year with the commencement of commercial production at its Tocantinzinho Mine in Brazil.
In the fourth quarter of 2024, G Mining Ventures achieved a production of 40,147 ounces of gold, with sales totaling 39,938 ounces. The company reported a net income of $47.6 million, or $0.21 per share, and an adjusted net income of $58.0 million, or $0.26 per share. The all-in sustaining costs were reported at $862 per ounce of gold sold, and the company ended the year with cash and cash equivalents of $141.2 million.
Key highlights of 2024 include the successful execution of the ‘Buy. Build. Operate.’ strategy, with significant free cash flow generated from the Tocantinzinho Mine. The acquisition of the Oko West project in Guyana and the Gurupi project in Brazil positions G Mining Ventures as a low-cost, high-growth gold producer. The company is on track with the feasibility study and permitting for Oko West, aiming to surpass 500,000 ounces of annual production.
Looking ahead, G Mining Ventures expects strong cash flow in 2025 to support investments in Oko West and strategic exploration. The company remains focused on low-cost production and advancing its multi-asset platform, with key milestones set for the upcoming year, including the publication of the Oko West feasibility study and a construction decision in the second half of 2025.