G Mining Ventures Corp · TSX:GMIN
G Mining Ventures — Q2 2025 Earnings Presentation
31 slides from G Mining Ventures's earnings presentation, Aug 14, 2025
Slide 1: Buy. Build. Operate. Q2 2025 Earnings Call
TSX:GMIN | OTCQX:GMINF BUY. BUILD. OPERATE. Q2 2025 Earnings Call August 15, 2025 TSX:GMIN 1 All figures are in U.S. dollars unless otherwise noted.
Slide 2: Cautionary Statements
Cautionary Statements Generally, forward-looking information can be identified by use of words such as “outlook”, “objective”, “may”, “could”, “would” , “will” ,“expect”, “intend”, “estimate”, “forecasts”, “project”, “seek”, “anticipate”, “believes”, “should”, “plans ” “pro forma”, or “continue”, an
Slide 3: Agenda and Speakers
Agenda and Speakers 01 Corporate Highlights 02 Operational Performance 03 Financial Results 04 Projects Update Louis-Pierre Gignac President & CEO, Julie Lafleur CFO and Director and VP, Finance 05 2025 Catalysts & Outlook 06 Q&A TSX:GMIN 3
Slide 4: Q2 2025 Corporate Highlights
Q2 2025 Corporate Highlights Strong Q2 Performance Tocantinzinho Operations Delivering Strong free cash flow generation of $60M during the Plant ramp-up was successfully completed during the quarter, increasing the cash balance to $156M, while quarter, following the liner replacement, with the conti
Slide 5: Q2 2025 Highlights
Q2 2025 Highlights Q2 2025 H1 2025 Gold Production: 42,587 oz 78,165 oz (1) Cash Cost : $763/oz $728/oz AISC : (1) $1,355/oz $1,170/oz Ramp-up Achieved (1) Robust Free Cash Flow AISC Margin : $1,637/oz $1,617/oz (1) Significantly Cash Positive Free Cash Flow : $60 million $96 million (1) Adjusted EB
Slide 6: Well Positioned to Deliver on 2025 Guidance
Well Positioned to Deliver on 2025 Guidance • Gold production for H1-25 reached 44% of 78.2 the lower end of the annual guidance range, Gold Gold with increased output anticipated in H2, Production Production H1 supported by higher grades and improved mill (koz) (koz) throughput • Full-year gold pro
Slide 7: Operational Performance
Operational Performance
Slide 8: Operational Highlights
Operational Highlights No Lost Time or Recordable Incidents l Dedication to the Highest Safety Standards Production Summary Unit Q2-2025 H1-2025 2025 Annual INSIGHTS Guidance • Plant Throughput: Since the Total Tonnes Mined kt 4,356 8,063 23,100 installation of the steel liners in April, the mill ha
Slide 9: Operating Cost Breakdown
Operating Cost Breakdown 2025 Annual INSIGHTS Item Unit Q2-2025 H1-2025 Guidance Operating Costs: includes impact of State of Pará enacted legislation Gold Sold koz 40.1 75.5 - increasing the Tax for Control, Operating Expenses $M $26.6 $47.9 - Monitoring, and Oversight of Mining Activities (“TRFM”)
Slide 10: Capital Expenditure Breakdown
Capital Expenditure Breakdown INSIGHTS H1-25 Total Sustaining Capital: $24M Q2-25 H1-25 • Sustaining Capital: Total Sustaining Capital Expenditures 2025 Annual Actual Actual sustaining expected to be Figures in Millions Guidance within guidance. Commissioning scheduled for early Q3 for mining equipm
Slide 11: TZ Mine – Peer Leading All-in Sustaining Cost
TZ Mine – Peer Leading All-in Sustaining Cost Comparative 2025 YTD - AISC (USD/oz Au) $2,500 $2,123 $2,000 $1,846 $1,796 $1,629 Peer Average 2025 YTD: $1,558 $1,572 $1,421 $1,455 $1,500 $1,118 $1,168 $1,170 $1,000 $805 $500 $- K92 Mining Orla Mining (2) Centerra Aura Minerals Artemis Gold (2) Torex
Slide 12: Financial Highlights
Financial Highlights
Slide 13: Financial Highlights
Financial Highlights Unit Q2-2025 H1-2025 Gold Sold koz 40.1 75.5 75% Realized Gold Price USD/oz $3,233 $3,014 EBITDA Margin H1-2025 Revenue $M $130 $228 Income from Mining Operations $M $85 $145 INSIGHTS Net Income $M $49 $73 Revenue: Quarterly revenue increased, supported by a higher Net Income pe
Slide 14: Free Cash Flow Summary
Free Cash Flow Summary(1) Figures in USD Millions Q2-2025 H1-2025 Operating Cash Flow before net change in Working Capital $46 $85 42% Free Cash Flow Margin Plus: Investment in Long Term Inventories (2) ($1) $10 H1-2025 Net Change in Working Capital $34 $25 Sustaining Capital Expenditures inclusive
Slide 15: Project Updates
Project Updates
Slide 16: Oko West Feasibility Study Overview
Oko West Feasibility Study Overview Feasibility Study April 2025 l Construction Decision H2 2025 l First Production by Q4 2027 Q2 l 2025 – DFS Summary Unit Metric Base Upside Mine Type OP l UG After-Tax NPV5% Case Case $3,974 $3,571 OP Strip Ratio x 6.8 $3,169 $2,767 $2,163 $2,364 Ore Tonnes Mined /
Slide 17: Oko West Project Update
Oko West Project Update Early works activities initiated in March 2025 and progressing well, with Investment Attractiveness Index (1) $63M of development capital incurred to date Finland Key infrastructure components—including roads, barge landing, and camp Nevada Alaska facilities—are expected
Slide 18: Accelerated Timeline to Production
Accelerated Timeline to Production 2024 2025 2026 2027 2028 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Sep 9, 2024: PEA Study Results PEA Announced Jan 7, 2025: Receipt of Interim ESIA Env. Permit Mar 6, 2025: Start of Early Works Construction Permitting Early works Apr 28, 2025: FS Study
Slide 19: Gurupi – Exploration
Gurupi – Exploration • Three main deposits totaling 1.8 Moz of Indicated and 0.7 Moz of Inferred resources • 55 km of soil anomaly along the 80 km long Chega Tudo corridor • Field work started with trench and auger demonstrating the continuity of the known mineralization to the north • Preparation o
Slide 20: 2025 Catalysts & Outlook
2025 Catalysts & Outlook
Slide 21: 2025 Catalysts & Outlook
2025 Catalysts & Outlook Upcoming Milestones Gurupi Oko West Oko West Tocantinzinho Oko West Oko West Gurupi All Assets Published Start of Early Feasibility Study Reach Nameplate Project Financing Continuation of Inaugural drill Greenfield and NI 43-101 Works Capacity Construction Detailed program B
Slide 22: Questions?
Thank you for joining us today! Questions? INVESTOR RELATIONS Jean-Francois Lemonde Vice President, Investor Relations Phone: 514.299.4926 Our full report is Email: jflemonde@gmin.gold available at: FOLLOW US: TSX:GMIN
Slide 23: Appendix – Additional Information
Appendix – Additional Information
Slide 24: 2025 Production and Cost Guidance
2025 Production and Cost Guidance Operational Estimates Unit 2025 Guidance INSIGHTS Ore Tonnes Mined kt 6,600 • Production Tax: Increase of $30/oz related to impact of State of Pará Total Tonnes Mined kt 23,100 enacted legislation increasing the Tax for Control, Monitoring, and Oversight Strip Ratio
Slide 25: Q2 25 AISC to All-In-Cost Reconciliation
Q2 25 AISC to All-In-Cost Reconciliation(1) Q2-25 H1-25 $M USD/oz $M USD/oz $1,170/oz Revenue $129.6 $3,233 $228 $3,014 AISC per ounce H1-2025 Free Cash Flow $60.2 $1,498 $96 $1,271 All-In-Cost Margin $69.4 $1,735 $132 $1,743 Cash Operating Cost $30.6 $763 $55.0 $728 ARO Accretion $0.1 $3 $0.2 $4 $1
Slide 26: Q2 2025 Cash Position Bridge
Q2 2025 Cash Position Bridge Figures in USD Millions Free Cash Flow $60 million(1) $300 Oko West Development: $46 million Exploration: $5 million $250 $34 ($19 ) ($51 ) $46 ($1 ) $200 209 $1 ($3 ) $150 156 149 $100 $50 $0 Cash Balance Operating Cash Investments in Changes in Net Sustaining Starting
Slide 27: Q2 25 AISC to Cost of Sales Reconciliation
Q2 25 AISC to Cost of Sales Reconciliation(1) Figures in USD Millions 60 $54.3 50 ($19.2) $44.3 40 ($0.1) $13.7 ($4.4) 30 20 10 0 All-In Sustaining Cost Sustaining Capital Accretion to General and Depreciation Cost of Goods sold Rehabilitation Provision Admininstrative Costs [1] These measures are n
Slide 28: Mineral Reserves and Resources
Mineral Reserves and Resources M&I Resources of 9.4 Moz @ 1.63 g/t Au, Inferred Resources of 1.2 Moz @ 1.51 g/t Au M&I Resources Inferred Resources Long Life Assets Tonnes Grade Ounces Tonnes Grade Ounces Project +10 years of mine life Kt g/t Au koz Au kt g/t Au koz Au TZ 55,767 1.22 2,181 752 1.12
Slide 29: Mineral Reserves and Resources Assumptions and Notes
Mineral Reserves and Resources Assumptions and Notes 1. The Mineral Resources described above have been prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") (2014) and the best practices described by CIM (2019). 2. Rounding of values to the
Slide 30: Mineral Reserves and Resources Assumptions and Notes
Mineral Reserves and Resources Assumptions and Notes Project specific MRMR disclosures continued: 15. The effective date of the Tocantinzinho Mineral Resource Estimate is December 31, 2024. 16. The ore modelling was completed using a numeric estimation in Leapfrog using a cut-off grade of 0.3 g/t Au
Slide 31: Mineral Reserves and Resources Assumptions and Notes
Mineral Reserves and Resources Assumptions and Notes Project specific MRMR disclosures continued: 29. Mineral Reserves are estimated using a long-term gold price of 1,800 $/oz USD 30. The qualified person for the estimate is Alexandre Burelle, P. Eng. (OIQ#5019855), Mine planning and financial analy