- G Mining Ventures (GMIN) has drawn US$91 million on its US$250 million gold stream with Franco-Nevada (FNV)
- It will allocate the funds to continue development and construction of its 100-per-cent owned Tocantinzinho Gold Project in Brazil, where production is slated for 2024
- The company has also commenced drawing on its US$40 million equipment financing facility with Caterpillar Financial Services
- President and CEO Louis-Pierre Gignac spoke with Brieanna McCutcheon about the news
- G Mining Ventures is engaged in the acquisition, exploration and development of precious metal projects
- G Mining Ventures (GMIN) is up by 0.95 per cent trading at $1.06 per share
G Mining Ventures (GMIN) has drawn US$91 million on its US$250 million gold stream with Franco-Nevada (FNV).
It will allocate the funds to continue development and construction of its 100-per-cent owned Tocantinzinho Gold Project in Brazil. The project is on track and on budget for commercial production in the second half of 2024.
In connection with the draw, G Mining substantiated to Franco-Nevada that it has sufficient funding to satisfy remaining project costs.
G Mining has also closed, satisfied the conditions precedent, and commenced drawing on its previously announced US$40 million equipment financing facility with Caterpillar Financial Services.
“This significant milestone demonstrates that the GMIN team has made substantial progress on the development and construction of Tocantinzinho to the satisfaction of its financial partners,” stated Louis-Pierre Gignac, G Mining’s President and CEO. “Our ability to systematically de-risk the development and meet the extensive list of obligations to access this funding should provide all our stakeholders with comfort in the quality work taking place at TZ.”
Gignac spoke with Brieanna McCutcheon about the news.
G Mining Ventures is engaged in the acquisition, exploration and development of precious metal projects.
G Mining Ventures (GMIN) is up by 0.95 per cent trading at $1.06 per share as of 9:39 am EST.
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