GMINF) on TSX’s list of biggest gainers after Brazilian takeover

September 9, 2024 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com) is a platform that offers investors interesting investment ideas, including reports on the trading of mining stocks of G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF).

GMIN is currently anchored by the Tocantinzinho Gold Project in Brazil and the Oko West Project in Guyana. Both of these areas are mining friendly and have development prospects.

The company’s shares were among the top gainers on the TSX today, currently trading at $8.73, up 0.83, down 10.44%, with an intraday high of $8.80.

G Mining announced today that it has entered into a Sale and Purchase Agreement to acquire properties in the Gurupi Gold Belt from wholly owned subsidiaries of BHP Group Limited (ASX: BHP, NYSE: BHP, LSE: BHP, JSE: BHG). This includes the CentroGold Project. In exchange for the acquisition, GMIN will grant BHP a 1.0% NSR royalty on the first 1 million ounces of gold mined from the Properties and a 1.5% NSR royalty on subsequent gold production (the “Transaction”).

CentroGold is located in the state of Maranhão, northern Brazil, and comprises 47 properties covering ~1,900 square kilometres (“km2”). The Project includes multiple identified gold targets along an 80 km mineralized trend, including the Blanket, Contact and Chega Tudo open pit deposits, which currently contain 2.3 million ounces of JORC-compliant gold resources and remain open for expansion. In July 2019, Oz Minerals Limited (“Oz Minerals”), which was later acquired by BHP in 2023, published a feasibility study for the Blanket and Contact deposits. The feasibility study envisaged a 10-year mine life with average annual gold production of 100,000 to 120,000 ounces per year, with 190,000 to 210,000 ounces of gold per year in the first two years of production.

GMIN views the Project as an advanced stage exploration asset with extensive exploration and engineering work completed to date, which includes over 135,000 metres of exploration core drilling. The size, scope and development timeline of the Project will be redesigned to align with GMIN’s long-term growth plans, ensuring resource allocation is consistent with our strategy to maximize value for all stakeholders. GMIN intends to evolve CentroGold’s existing geological model and redesign the Project from the ground up to better align with today’s new permitting requirements and economic environment. Shortly after the closing of the Transaction, GMIN plans to update the JORC-compliant gold resource to meet National Instrument 43-101 – Disclosure Standards for Mineral Projects (“NI 43-101”). Current corporate priorities that will take precedence include advancing the Tocantinzinho gold mine in Brazil to rated production and accelerating the Oko West gold project in Guyana towards a construction decision in H2-25.

Louis-Pierre Gignac, Chairman and CEO, commented: “We are excited to acquire another promising project and begin developing into the multi-asset growth company we have always envisioned. CentroGold has an attractive initial resource base on a large land package that encompasses ~1,900 km2 of significant exploration potential, located in a proven geological belt. This acquisition complements CentroGold’s high-quality portfolio of gold assets, which includes a producing mine at Tocantinzinho, a development project at Oko West and a high-potential exploration project. I believe this cash-generating, high-growth portfolio offers a tremendous value opportunity for our shareholders.”

Dušan Petković, Senior Vice President, Corporate Strategy, commented: “The acquisition of CentroGold fits perfectly with our strategy to acquire high-quality, undervalued assets that GMIN is uniquely positioned to unlock. 2024 was a transformational year for GMIN, led by two acquisitions that increased our gold resource base from 2.1 million measured and indicated ounces to 8.1 million ounces and from 50 thousand inferred to 2.2 million ounces, creating an exciting pipeline of near-term and long-term growth projects. Looking ahead, we are excited to demonstrate and realize the enormous potential of our asset base.”

Latest news

https://ca.finance.yahoo.com/news/g-mining-ventures-acquire-centrrogold-113000137.html

Research More Mining Stocks with Investorideas.com’s Free Stock Directory

https://www.investorideas.com/Gold_Stocks/Stocks_List.asp

https://www.investorideas.com/Audio/Podcasts-Exploring-Mining.asp

About Investorideas.com – Great Investment Ideas

Investorideas.com is the go-to platform for big investment ideas. From the latest stock market news to top-rated investing podcasts, we cover it all. Our original branded content includes podcasts like Exploring Mining, Cleantech, Crypto Corner, Cannabis News, and AI Eye. We also create free investor stock directories for sectors including mining, cryptocurrencies, renewable energy, gaming, biotech, technology, sports, and more. Public companies in the sectors we cover can use our news publishing and content creation services to help tell their story to interested investors. Paid content is always disclosed.

Disclaimer/Disclosure: Alaska Energy Metals Corporation is a paid featured mining stock on Investorideas.com, Investorideas.com is a digital publisher of news, articles and equity research from third parties, and also creates original content, including videos, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations regarding the purchase or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible loss. This site is currently compensated for the publication and distribution of news, social media and marketing, content creation and more. Contact management and IR of each company directly regarding specific questions. More disclaimer information: More disclaimer and disclosure information https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing a press release and our other news services on the Investorideas.com news service https://www.investorideas.com/News-Upload/ Global investors must comply with the regulations of each country. Read the Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

Learn more about our news, PR and social media services, podcasts and ticker tags at Investorideas.com

https://www.investorideas.com/Investors/Services.asp

Learn more about digital advertising and guest posting

https://www.investorideas.com/Advertise/

Research More Mining Stocks with Investorideas.com’s Free Stock Directory

https://www.investorideas.com/Gold_Stocks/Stocks_List.asp

Sign up for free stock market news alerts at Investorideas.com

https://www.investorideas.com/Resources/Newsletter.asp

Contact Investorideas.com

800 665 0411