Accessibility StatementSkip Navigation BROSSARD, QC, Oct. 2, 2025 /PRNewswire/ - G Mining Ventures Corp. ("GMIN" or the "Corporation") (TSX: GMIN) (OTCQX: GMINF) is pleased to announce that the Superintendência do Desenvolvimento da Amazônia ("SUDAM") has formally approved the Tocantinzinho Gold Mine ("TZ"), located in Pará State, Brazil, for inclusion in its regional development tax incentive program. With this approval, the Brazilian nominal corporate income tax rate applicable to TZ will be reduced from ...

Financial Data and Key Metrics Changes - The company recorded revenue of $481.2 million, a slight reduction of 1.4% year-over-year, but an increase of $58.2 million sequentially from Q1 [15] - New and used equipment sales in the Construction and Master Distribution segments increased by $24.7 million year-over-year, a 15.4% increase, while Material Handling segment sales decreased by $8.3 million [15][16] - Adjusted EBITDA for the quarter was $48.5 million, with a free cash flow before rent to sell decisioning of approximately $32 million [21][22] Business Line Data and Key Metrics Changes - The Construction Equipment segment saw new and used equipment sales increase by nearly $22 million, a 15% increase year-over-year, driven by strong demand in northern regions [17][19] - Material Handling segment revenues were modestly up quarter-over-quarter, but down year-over-year due to cautious spending among automotive and general manufacturing customers [7][19] - Master Distribution segment revenues increased by 25% to $20.9 million, driven by stronger dealer engagement and channel activity [9] Market Data and Key Metrics Changes - The Midwest and Canadian operations outperformed last year, particularly in aggregate and mining markets, while Florida's market remains resilient despite temporary pauses in private nonresidential projects [6][19] - The Material Handling customer base has been more affected by trade policy uncertainties, particularly among larger customers with greater import/export exposure [20] Company Strategy and Development Direction - The company is focused on capital allocation strategies, including a $30 million buyback program, and has repurchased nearly 1.2 million shares at an average price of $5.64 [11][25] - The outlook for the remainder of the year remains encouraging, especially with potential benefits from tax incentives in the One Big Beautiful Bill [11][24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the resilience of the business model and the diversity of end markets providing stability through down cycles [11] - There is confidence in the construction segment's backlog and customer sentiment, which is expected to drive equipment purchases despite macroeconomic uncertainties [39] Other Important Information - The company continues to optimize its product support business, specifically in the construction segment, to drive labor gross margins higher and reduce SG&A spend [16] - The adjusted EBITDA guidance for 2025 has been slightly trimmed to a range of $171.5 million to $181.5 million, primarily due to tariff impacts and expected continued drag in product support and rental departments [23] Q&A Session Summary Question: Impact of the Big Beautiful Bill on demand - Management expects the Big Beautiful Bill to impact construction more than other segments, with potential benefits seen primarily in Q4 2025 [30] Question: Material Handling customer hesitancy - Bookings in July were strong, indicating that customer hesitancy may be subsiding, particularly for fleets due for replenishment [32][34] Question: SG&A discipline and expectations for the second half - Management believes they have found a good level for fixed costs and expects to maintain that level, while being open to increasing variable expenses related to sales [36] Question: Construction activity and customer purchasing behavior - Confidence in backlog is the primary driver for customer equipment purchases, with tax benefits being a secondary factor [39][40] Question: Geographic performance in construction - Florida remains strong, while other manufacturing-oriented regions show softer sentiment [46][48] Question: M&A opportunities - The company sees opportunities in M&A, particularly related to succession planning issues rather than solely economic cycles [50][51] Question: Margin profile and competitive environment - Margins are stabilizing, particularly in heavy equipment, while compact equipment faces more challenges [56][58] Question: Rental fleet utilization and rates - Utilization has improved but is still below targets, with rental rates remaining stable across product categories [59][62]

Political Landscape - The emergency presidential election in South Korea is scheduled for June 3, 2025, following political uncertainty due to the declaration of martial law and the impeachment of President Yoon Suk-yeol[6]. - Recent polls indicate that opposition candidates are leading, reflecting a favorable trend for the opposition party amid high public support for changing the current government[7][8]. Economic Policy Outlook - Key economic policy platforms focus on improving corporate governance and addressing the "Korea discount," with retail investors representing nearly 30% of the population[19]. - Major candidates propose four main categories of capital market policies: corporate governance reform, tax incentives, enhanced accessibility for capital markets, and establishing a fair market order[20]. Market Projections - The KOSPI 12-month target has been raised to 2900, indicating a 9% upside potential, driven by the elimination of political risks and advancements in capital market reforms[3][64]. - The potential reclassification of South Korea's MSCI status could attract approximately $20-30 billion in foreign investment, improving market accessibility[48][51]. Corporate Governance Reforms - Both leading candidates emphasize the importance of corporate governance reforms, which could play a crucial role in narrowing the Korea discount[22][23]. - Despite previous efforts, the valuation of the Korean stock market remains significantly discounted compared to regional and global peers, with a price-to-book ratio discount of 48% compared to developed markets[28]. Tax Incentives - Proposed reforms include changes to dividend and inheritance tax policies to encourage higher dividend payouts, which previously saw significant increases when similar policies were implemented in 2014[37][40]. - The inheritance tax reform aims to address undervaluation issues of listed company stocks, particularly for those with a price-to-book ratio below 0.8[38]. Market Order and Transparency - Candidates commit to strengthening penalties for illegal trading practices, such as insider trading, to enhance protection for minority shareholders and improve market transparency[52][53]. - The overall number of unfair trading cases has decreased, but there has been a rise in cases related to interest disclosures in 2024[53]. Sector-Specific Policies - Both candidates support strategic industries such as AI, renewable energy, and defense, with commitments to establish investment funds and incentives for domestic production[59][60]. - The focus on enhancing the competitiveness of the shipbuilding industry and advancing defense technology is also highlighted in their platforms[60].

Group 1 - Multiple Hollywood studios and several actor/writer unions have requested tax incentives from President Trump [1]