G Mining Ventures Corp (TSX:GMIN, OTCQX:GMINF) announced that its Tocantinzinho Gold Mine (TZ), located in Pará, Brazil, has reached nameplate capacity, averaging 12,890 tonnes per day over a 30-day period.
The company also reported gold production of 42,587 ounces for the second quarter of 2025, marking a 20% increase over the previous quarter.
G Mining Ventures said there was no lost time or recordable incidents during the second quarter.
Gold recovery improved to 90.3%, up from 87.7% in the previous quarter.
The average mining rate rose to approximately 47,900 tonnes per day, an 18% increase from the first quarter.
Plant throughput averaged 11,100 tonnes per day, equivalent to 86% of nameplate capacity. Throughput increased from 8,600 tonnes per day in April, or 67% of nameplate, to 12,300 tonnes per day in May and June, or 96%.
The company attributed these operational gains to the resolution of an earlier issue involving the semi-autogenous grinding (SAG) mill.
During ramp-up, the company observed premature wear in the poly-met liners, which led to repeated unplanned maintenance shutdowns. In April, the company replaced the liners with a permanent steel system.
Following the installation, the mill achieved 96% of nameplate throughput in May and June, including 103% in May alone. The company said the mill has since operated with greater stability and consistent recoveries.
"The team at TZ has delivered an impressive Q2 following the SAG mill liner challenges earlier this year, leading to a successful ramp-up to nameplate throughput," G Mining CEO Louis-Pierre Gignac said in a statement.
"Since implementing the new liner, the mill has operated with excellent stability, higher throughput, and robust gold recoveries. These results demonstrate our technical capabilities and disciplined execution, keeping us firmly on track to achieve our 2025 production targets."
G Mining’s first-half production totalled 78,165 ounces, or 42% of the midpoint of the company’s reaffirmed annual guidance of 175,000 to 200,000 ounces. This was slightly below the planned 44%.
The company said it would provide cost guidance along with its Q2 results, set to be released on August 14, after markets close.
Looking ahead, the company said it remains focused on securing the final environmental permit for its Oko West project, advancing a financing and construction decision in the second half of the year, and continuing exploration at TZ, Oko West, and Gurupi.