G Mining Ventures Corp (TSX:GMIN, OTCQX:GMINF) has reflected on its operational and corporate achievements in 2024, highlighting significant progress across key projects and achieving annual gold production of 63,566 ounces.
The Tocantinzinho Gold Mine in Brazil reached commercial production in the third quarter and was completed on time and on budget, contributing to a strong fourth quarter production of 40,147 ounces, the company noted in a statement.
The company grew its portfolio with the acquisition of Oko West Gold Project in Guyana and the CentroGold Project in Brazil.
The Oko West Project, acquired through a business combination with Reunion Gold, is projecting an annual production of 353,000 ounces over 12.7 years according to a preliminary economic assessment.
Meanwhile, the CentroGold Project acquisition from BHP expands G Mining's footprint in the Gurupi Gold Belt.
Also in 2024, G Mining reported a 94% increase in its share price, outperforming the 26% rise in gold prices and the 13% increase in the VanEck Junior Gold Miners ETF.
The company also raised approximately $100.8 million through equity and warrant exercises to support ongoing project developments.
"Our 2024 milestones mark important steps in G Mining’s evolution from developer to producer, and reflect our strategic execution, backed by a best-in-class management team, strong partnerships, and a high-quality portfolio of long-life, low-cost assets that offer multiple value-creation catalysts," G Mining CEO Louis-Pierre Gignac said in a statement.
Looking ahead to 2025, G Mining plans to ramp up production at Tocantinzinho (TZ) to nameplate capacity, advance exploration efforts near the mine, and further develop the Oko West and CentroGold projects.
Anticipated milestones include publishing a feasibility study for Oko West, advancing early works, and continuing detailed engineering.
“I am excited about the opportunities ahead as we enter 2025,” Gignac said. “We remain committed to creating the next leading intermediate gold producer, further ramping up production at TZ, advancing Oko West's feasibility study and making a construction decision on the project, and advancing exploration at our newly acquired CentroGold project in Brazil."
Shares of G Mining Ventures gained another 5.6% on Wednesday following the update.
--Updates with share price--