Business
G Mining Ventures Reports First Quarter 2026 Results
BROSSARD, Quebec, , May 13, 2026 (GLOBE NEWSWIRE) -- G Mining Ventures Corp. (“GMIN” or the “Corporation”) (TSX: GMIN, OTCQX: GMINF) today reported its
About this update from G Mining Ventures Corp
[{"type":"text","content":" BROSSARD, Quebec, , May 13, 2026 (GLOBE NEWSWIRE) -- G Mining Ventures Corp. (“GMIN” or the “Corporation”) (TSX: GMIN, OTCQX: GMINF) today reported its financial and operating results for the first quarter of 2026. Unless otherwise indicated, all dollar amounts are in U.S. dollars. Louis-Pierre Gignac, President and Chief Executive Officer commented: “We delivered a solid start to 2026, achieving record operating margins while production and costs at TZ tracked well to plan. With gold production expected to be weighted to a much stronger second half of the year, we are managing cost volatility through disciplined execution. Looking ahead, we continue to execute on our industry leading growth strategy with a clear path to achieving over 500,000 ounces of annual gold production by 2028, supported by the advancement of Oko West, which remains on schedule and within budget, with first gold targeted in the second half of 2027.” First Quarter 2026 Highlights Solid quarterly operating performance, in line with plan: Payable gold production(1) at the Tocantinzinho Mine (“TZ”) was 31,846 ounces in the first quarter, representing approximately 18% of the mid-point of the full year production guidance, at total cash costs(2) per ounce of $1,034 and all-in sustaining costs (“AISC”)(2) per ounce of $1,588. The realized gold price of $4,143 per ounce, up from $2,766 per ounce in the prior-year period, supported strong margins and cash flows. Costs are expected to improve materially in the second half of the year due to higher expected production. Strong quarterly financial results: Generated quarterly net income of $80.4 million or $0.35 per share(3) and adjusted net income(2) of $62.0 million or $0.27 per share(3). The Corporation generated cash provided by operating activities of $69.7 million or $0.30 per share(3) and free cash flow(2) of $56.2 million or $0.24 per share(3). Revenue for the quarter was reduced by a $10.7 million non-cash adjustment related to the Gold Streaming Agreement resulting from an increase in mining reserves. Substantial liquidity to fund growth. At March 31, 2026, cash and cash equivalents totalled $287.2 million. Including the undrawn revolving credit facility of $350 million, the Corporation’s total available liquidity at the end of the first quarter 2026 was $637.2 million. Annual gold production and cost guid...