G Mining Ventures Announces Uniquely Synergistic Acquisition of G2 Goldfields, Creating a Tier-One Gold Mining Hub in Guyana and One of the Largest, Lowest-Cost Gold Operations in the Americas
- Delivers district-scale consolidation by combining GMIN’s Oko West Project and G2’s Oko-Ghanie Project into a single, highly synergistic, Tier-1, Oko Project.
- Combines anticipated LOM average gold production of ~350 koz from GMIN’s Oko West Project and 228 koz from G2’s Oko Ghanie Project into a single project with the potential to produce over 500 koz on a LOM average basis.
- Unlocks over C$1B of initially quantifiable expected synergies
- Accelerates and simplifies the Oko-Ghanie Project’s permitting timeline by combining with the fully permitted Oko West Project.
- GMIN’s balance sheet and strong free cash flow generation are expected to self-fund development of the combined Oko Project.
- Delivers substantial upfront premium to G2 shareholders
Large, High-Grade Oko Gold Project
– Total Gold Production of 3.2 Moz Over a 14-year Mine Life
– Average Annual Gold Production of 282 koz at Industry-Leading AISC of US$1,232/oz
– After-tax NPV5% of US$2.5 Billion, IRR of 38% and Payback of 2.7 years at US$3,000/oz
– Initial Capital Expenditures of US$664 Million (Includes 20% Contingency)
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