G Mining Ventures Corp. (TSX: GMIN, OTCQX GMINF) has begun site preparation activities at its Oko West Gold Project in Guyana, marking a significant milestone in the project’s development. The company is moving forward with early works construction following the receipt of an Interim Environmental Permit from Guyana’s Environmental Protection Agency.
The early works program, part of the project’s $200-240 million capital expenditure guidance for 2025, includes the construction of critical infrastructure such as a barge landing facility on the Cuyuní River, main access and internal roads, an airstrip, and a permanent camp facility. Additional components encompass water and sewage treatment plants, power generation facilities, and a communications tower.
Louis-Pierre Gignac, President & CEO of G Mining Ventures, emphasized the company’s commitment to expediting the project’s delivery while maintaining high safety, environmental, and social standards. “These early-stage activities lay the groundwork for potentially fast-tracking the project construction,” Gignac stated.
The company is simultaneously advancing its permitting efforts to secure the full Environmental License from Guyana’s EPA. This dual-track approach aims to streamline the project’s development timeline.
G Mining has outlined several key milestones for the Oko West project in 2025:
- Feasibility Study publication (Q2-2025)
- Project financing (H2-2025)
- Formal construction decision (H2-2025)
- Continuation of detailed engineering (throughout 2025)
- Ongoing greenfield and brownfield exploration (throughout 2025)
The Feasibility Study, expected in the second quarter of 2025, will incorporate updated mineral resource and reserve estimates. A positive outcome, combined with final permits and project financing, could support a formal construction decision in the latter half of 2025.
The Oko West Gold Project is situated approximately 95 km west of Georgetown, Guyana’s capital. It comprises a Prospecting License covering an area of about 44 square kilometers, fully owned by G Mining Ventures’ Guyanese subsidiary.
A Preliminary Economic Assessment (PEA) completed in September 2024 projected an average annual gold production of 353,000 ounces over a 12.7-year mine life. The PEA estimated an after-tax Net Present Value (NPV) of $1.4 billion at a 5% discount rate and an Internal Rate of Return (IRR) of 21%, based on a gold price of $1,950 per ounce.
G Mining Ventures Corp. positions itself as an emerging mid-tier precious metals producer, leveraging its development expertise and access to capital. The company’s portfolio includes the Tocantinzinho Gold Mine in Brazil, alongside the Oko West and Gurupi Gold projects in Guyana and Brazil, respectively.
As the company progresses with the Oko West project, investors and industry observers will be watching closely to see how this ambitious venture unfolds in the gold-rich landscapes of Guyana.
