Business
G Mining Ventures Provides Project Finance Update
BROSSARD, QC / ACCESSWIRE / May 17, 2022 / G Mining Ventures Corp. (" GMIN " or the " Corpor...
About this update from G Mining Ventures Corp
[{"type":"text","content":"G Mining Ventures Provides Project Finance UpdateBROSSARD, QC / ACCESSWIRE / May 17, 2022 / G Mining Ventures Corp. (\"GMIN\" or the \"Corporation\") (TSXV:GMIN) (OTCQB:GMINF) is pleased to report advancement on the project financing for its 100% owned Tocantinzinho Gold Project (\"TZ\" or the \"Project\"). As previously announced on February 9, 2022, the Corporation is evaluating various sources of funding, including commercial bank debt, private debt, precious metals streaming, and strategic equity, and is working towards having the project financing secured to move forward with a construction decision by mid-2022.Since the project financing process was initiated, the Corporation has received a variety of strong, comprehensive proposals from some of the leading financiers to the global mining sector. GMIN has finalized its analysis of these proposals and will commence advancing the definitive documentation with its selected parties with a view to enabling construction to commence in the second half of 2022. The Corporation continues to target 60% to 70% of the capital required from non-equity sources, with the objective of minimizing the cost of capital while maximizing equity return on a per share basis.Louis-Pierre Gignac, President & CEO of GMIN, commented, \"After much hard work, we are nearing completion of our project financing process as we advance towards making a positive construction decision. Despite the challenging market conditions, the capital markets have given us a lot of support for our ‘Self Perform' model in project execution, recognizing our team's track record of delivering projects on time and on budget. Considerable due diligence has been performed by all parties involved, and while there are still items to be finalized, we are excited to get close to achieving this major milestone. We look forward to sharing the details on the project financing package, once finalized.\"About G Mining Ventures Corp.G Mining Ventures Corp. (TSX.V:GMIN) (OTCQB:GMINF) is a mineral exploration 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 the company into the next mid-tier precious metals producer by leveraging strong access to capital and proven development expertise. ...