Can you introduce us to G Mining Ventures?

G Mining Ventures was founded in October 2020, focusing on acquiring and developing mining assets, particularly in gold. In 2021, the company acquired the Tocantinzinho project from Eldorado Gold, a significant transaction that positioned it for rapid development due to its shovel-ready status. By February 2022, we completed a feasibility study demonstrating the project's viability, and construction commenced in July 2022. As of mid-2024, the mine is on track to become one of Brazil's largest gold producers, with anticipated annual outputs of approximately 175,000 oz/y. To finance the Tocantinzinho mine's construction, we successfully raised US$481 million. Notably, Franco-Nevada, a significant player in the mining financing space, played a key role in this funding round, highlighting confidence in the project's potential. On September 3rd, we announced commercial projection at Tocantinzinho, and anticipate ramping up to full nameplate capacity by the end of this year. Can you discuss the Tocantinzinho mine’s location and potential?

The state of Pará is emerging as a hub for Canadian mining companies. The increasing investment in Brazilian mining reflects its strategic importance and potential for future growth. The project required significant infrastructure investment, including constructing a 198-km transmission line to connect the mine to Brazil's national power grid.

The feasibility study indicates an average production of approximately 175,000 oz/y over a mine life projected at 10.5 years. In the initial years, the mine will achieve higher outputs, aiming to produce close to 200,000 oz/y during the first three full years of operation. The mine successfully processed its first ore on June 10, 2024, with the first gold production reported on July 9, marking a significant milestone for G Mining Ventures. Can you elaborate on the company's social initiatives and ESG commitments?

Key initiatives include upgrading local infrastructure, such as improving a police station and constructing bypass roads to alleviate traffic in nearby towns. The company also invested in educational facilities, providing Wi-Fi access to local schools to enhance connectivity. A notable investment was the development of a modern camp facility for workers, which includes amenities such as air conditioning, recreational areas, and fiber optic internet for better communication.

We operate an owner-mining model to maintain direct control over our operations and ensure that the company's team develops long-term expertise. This approach allows for better management of the mining process, including recruiting skilled labor and fostering a culture of safety and efficiency. G Mining Ventures has made concerted efforts to hire female operators, aiming to diversify its workforce and create an inclusive work environment. Can you discuss the company's new project and exploration pipeline?

We have made a strategic acquisition in Guyana, which is a fast-track opportunity for expansion and will complement the operations at Tocantinzinho. The company plans to initiate construction at the Oko West project next year and wants to transfer equipment and personnel from Tocantinzinho to support the new venture. The Guyana project has an expected production capacity of around 350,000 oz/y of gold, positioning G Mining Ventures for substantial growth and further diversification of its operations.

Given current market conditions we are poised to benefit significantly from increased cash flow. This robust financial position allows the company to support ongoing operations at Tocantinzinho and finance further developments at the Oko West project in Guyana and increase its exploration activities to discover additional gold resources. This year, we have allocated US$4 million for exploration efforts, intending to ramp up spending in the following year. The company has identified 19 exploration targets across a vast land package of 996 km surrounding the Tocantinzinho project. The immediate focus will be on a 5-km radius around the processing plant, strategically chosen to optimize potential discoveries and enhance the resource base to support ongoing operations. What are your outlook and goals for 2024 and 2025?

For 2024, we aim to achieve nameplate capacity at our Tocantinzinho mine, focusing on ramping up output and operational efficiency. In terms of growth, the company plans to advance the Oko West project in Guyana, building on the publication of a PEA in September 2024. Additionally, the company intends to file the Environmental and Social Impact Assessment with the Guyanese government later this year, a critical step toward commencing construction on the new project and expanding the company's operational footprint.