G Mining Ventures Reports Strong Q3 2025 Results

Core Insights - G Mining Ventures Corp. (GMIN) reported strong financial and operational results for Q3 2025, highlighting record production and free cash flow, positioning the company among the lowest-cost producers in the Americas [1][3][6] Financial Highlights - Gold production reached 46,360 ounces in Q3 2025, a 9% increase from Q2 2025, with year-to-date production totaling 124,525 ounces [3][6] - Revenues for Q3 2025 were $161.7 million, supported by a record average realized gold price of $3,292 per ounce, leading to year-to-date revenues of $389.3 million [5][6] - Free cash flow generated was $95.8 million for Q3 2025, representing a 59% increase from Q2 2025, with year-to-date free cash flow at $190.7 million [3][10] - Adjusted EBITDA for Q3 2025 was $122.6 million, a 32% increase from Q2 2025, with year-to-date adjusted EBITDA reaching $283.6 million [5][10] - Net income for Q3 2025 was $123.8 million, or $0.55 per share, compared to $24.3 million in Q3 2024 [5][10] Operational Performance - The Tocantinzinho Gold Mine (TZ) operated at a steady state, achieving an all-in sustaining cost (AISC) of $1,046 per ounce in Q3 2025, compared to an average gold price received of $3,114 per ounce, resulting in a robust AISC margin of $2,068 per ounce [3][7][15] - The average gold grade of ore processed was 1.43 g/t, with a gold recovery rate of 92.3% [4][13] - Mining activities included 1,787 kt of ore mined and 3,275 kt of waste mined, resulting in a strip ratio of 1.83 [4] Project Developments - The Oko West Gold Project has secured all major approvals and is now in full construction, with a financing package of up to $387.5 million closed [3][16] - The Gurupi project has advanced following a favorable Federal Court ruling, allowing the restart of environmental licensing and exploration activities [20][22] Liquidity and Capital Resources - GMIN ended Q3 2025 with $94.6 million in cash and equivalents, down from $156.1 million in Q2 2025, primarily due to investments in Oko West and a deferred payment to Eldorado Gold [11][24] - Total liquidity stood at $471.6 million, providing flexibility for ongoing projects [24] 2025 Outlook - GMIN reaffirms its production guidance for 2025 of 175,000 to 200,000 ounces of gold, with AISC expected to remain between $1,025 and $1,155 per ounce [25][28] - The company is positioned for continued self-funded growth and long-term value creation, supported by a robust gold price environment and disciplined cost management [27][28]