G Mining Ventures Corp (TSX:GMIN, OTCQX:GMINF, FRA:W97) has released its operational guidance for 2026 and 2027 for the Tocantinzinho (TZ) Gold Mine in Brazil and provided an update on development progress at the Oko West Gold Project in Guyana.
“Our 2026 and 2027 guidance reflects the continued execution of our operating and growth strategy,” G Mining CEO Louis-Pierre Gignac said in a statement.
“At TZ, we expect steady production while maintaining a competitive cost structure,” Gignac said. “At Oko West, project development is advancing in line with plan, supporting our objective of achieving first gold production in the second half of 2027.”
The company said gold production at its 100%-owned Tocantinzinho mine in Pará state is expected to range between 160,000 and 190,000 ounces in 2026, representing a modest increase from 2025 at the midpoint of guidance.
Output is expected to be weighted toward the second half of the year, with about 62% of production forecast in the latter six months as higher-grade Phase 2 mineralization becomes available under the mine plan.
For 2026, cash operating costs are projected to range from $736 to $865 per ounce of gold sold, while all-in sustaining costs (AISC) are expected to be between $1,230 and $1,444 per ounce, based on a realized gold price assumption of $4,000 per ounce. Average mill recovery for the year is estimated at 91.7%, reflecting improvements achieved in the second half of 2025.
Sustaining capital expenditures at Tocantinzinho are estimated at $69 million to $81 million in 2026, including $31 million to $36 million of capitalized waste stripping. Excluding waste stripping, sustaining capital is expected to total $38 million to $46 million, covering investments in the process plant, mining equipment, mobile fleet components, and tailings management.
Gold production in 2027 is expected to increase to between 200,000 and 235,000 ounces, driven by a full-year contribution from higher-grade Phase 2 ore. The company said cash costs and AISC are expected to decline materially in 2027, with reductions of approximately 14% and 20%, respectively, compared with 2026 at the midpoint of guidance.
In Guyana, G Mining said its Oko West Gold Project remains on schedule and on budget for first gold production in the second half of 2027. Approximately $423 million in capital has been committed to date, representing about 44% of total upfront capital expenditures, with detailed engineering progress reaching 60%.
Capital spending at Oko West in 2026 is projected to range from $514 million to $568 million as major construction activities begin, including work on the process plant, infrastructure, and mine pre-production.
The company expects substantially all major equipment to be delivered during the year, with remaining capital expenditures in 2027 focused on commissioning and pre-production activities.
G Mining said Oko West is expected to produce an average of 350,000 ounces of gold per year at mine-site AISC of $1,123 per ounce. The project is expected to lift consolidated gold production to approximately 500,000 ounces in 2028, up from an estimated 175,000 ounces in 2026.
The company also outlined its largest exploration program to date for 2026, with a total budget of $42 million to $50 million. Planned spending includes approximately $21 million at the Gurupi project in Brazil, $16 million at Oko West, and $9 million at Tocantinzinho.
A similar level of exploration investment is planned for 2027. At Tocantinzinho, exploration will focus on regional targets aimed at generating new drill-ready prospects. At Oko West, drilling is expected to concentrate on regional follow-up targets and infill drilling of a high-grade ore shoot. At Gurupi, exploration and study work is planned to support resource expansion ahead of a preliminary economic assessment targeted for the second half of 2026.
“With a strong balance sheet and ongoing free cash flow generation, GMIN remains well-positioned to fund its growth initiatives,” Gignac concluded.
Shares of G Mining were up 5.1% in Toronto and 11.9% over the counter in the US on Tuesday morning.