G Mining Ventures Reports Strong Q2 2025 Results

Core Insights - GMIN achieved nameplate throughput at the Tocantinzinho (TZ) processing plant and reported significant increases in gold production and free cash flow during Q2 2025, generating over $60 million in free cash flow [1][6][9] - The company is advancing its growth pipeline with the completion of the Oko West Feasibility Study and resolution of permitting issues at the Gurupi Project, indicating a clear path for future development [1][6][19] Operational Performance - Gold production for Q2 2025 was 42,587 ounces, a 20% increase from the previous quarter, with an average gold recovery rate of 90.3% [6][15] - The average plant throughput was 11,107 tonnes per day, achieving 86% of nameplate capacity, and the strip ratio was reported at 1.64 [3][15] - The company sold 40,082 ounces of gold, generating $129.6 million in revenue at an average realized gold price of $3,233 per ounce [8][9] Financial Results - GMIN reported a net income of $48.6 million for Q2 2025, compared to a loss of $5.3 million in Q2 2024, with adjusted net income of $36.5 million [5][10] - EBITDA for the quarter was $104.3 million, reflecting strong operational performance and cost discipline [5][10] - The cash balance at the end of Q2 2025 was $156.1 million, an increase of $7 million from the previous quarter, supporting the company's self-funded growth strategy [7][23] Development Updates - Early works at the Oko West project are progressing, with $63 million spent year to date and detailed engineering 19% complete [6][14] - The Gurupi Project received a favorable court ruling, allowing GMIN to restart the permitting process and advance exploration activities [19][21] ESG and Sustainability - GMIN published its 2024 ESG report, highlighting achievements in reforestation and stakeholder engagement, with plans to expand these efforts in H2 2025 [22][27] - The company reported a Total Recordable Injury Frequency Rate (TRIFR) of 0.08 over 2.5 million hours worked, indicating a strong safety record [27] 2025 Outlook - GMIN reaffirms its full-year production guidance of 175,000 to 200,000 ounces of gold, with expectations of being at the lower end of this range [25] - AISC guidance has been adjusted to $1,025 to $1,155 per ounce sold due to increased costs from new legislation [26]