Original release can be viewed on G Mining Ventures
BROSSARD, QC, January 30, 2024 – G Mining Ventures Corp. (“GMIN” or the “Corporation”) (TSX: GMIN) (OTCQX: GMINF) is pleased to announce that it has drawn approximately $42 million on its $75 million senior secured term loan with an affiliate of Franco-Nevada Corporation (“Franco-Nevada“), as previously announced in July 2022. The $250 million gold stream, also announced in July 2022 has been fully drawn. The proceeds of the term loan will be used to continue the development and construction of GMIN’s 100% owned Tocantinzinho Gold Project (“TZ” or the “Project”), currently under construction in the State of Pará, Brazil. The Project remains on track and on budget for commercial production in H2-2024.
In connection with the draw on the term loan, GMIN provided evidence to Franco-Nevada that it has sufficient funding to fully satisfy the remaining Project costs required to achieve commercial production and Project completion.
Louis-Pierre Gignac, President & Chief Executive Officer, commented: “This is yet another significant milestone which demonstrates that the GMIN team has systematically de-risked the development and construction of Tocantinzinho, and has met the extensive list of obligations to access this funding from Franco-Nevada. We hope that our follow shareholders also take comfort that TZ remains on track and on budget for commercial production in H2-2024.”
Virtual Site Tour and Feasibility Study Presentation
Updated satellite imagery and 360 photography showing the site progress is available through the corporate presentation at: https://vrify.com/decks/14338. A 3D presentation of the Project Feasibility Study is available at: Feasibility Study 3D VRIFY Presentation. Both presentations can be accessed by visiting GMIN’s website at https://www.gminingventures.com.
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 its flagship Tocantinzinho Gold Project in mining friendly and prospective State of Pará, Brazil.