G Mining Ventures nears first gold production at Tocantinzinho in Brazil
Sat June 22 2024
G Mining Ventures Corp (TSX-V:GMIN, OTCQX:GMINF) is on track for first gold production at its Tocantinzinho project in Brazil in the coming weeks with the start of hot commissioning at the site.
This final phase of commissioning involves putting ore through the plant, with the goal of producing gold within four weeks.
In a recent interview with Proactive, CEO Louis-Pierre Gignac discussed the achievement, highlighting that reaching commercial production would position Tocantinzinho as Brazil’s third-largest primary gold mine.
Proactive: You've had some significant news over the last little while. First, let's talk about your gold project. You've had some hot commissioning, and for people who are not familiar with that, explain to us first about the project itself and more so about this hot commissioning.
Louis-Pierre Gignac: We made a press release a little while ago, just announcing the first ore into the plant. So that's kind of the last phase of commissioning for the Tocantinzinho project in Brazil. So basically, putting ore through the plant and looking to produce gold in about four weeks time. So, definitely an important milestone in the stage of this project.
Obviously, you're going to start ramping up early, is that right? You start off slow and then sort of build it eventually to where you'd like to get to on a regular basis.
Correct. Through the hot commissioning stage, you iron out some of the kinks and fix a few things. Essentially you ramp up gradually, and over the next couple of months, we want to hit 60% of nameplate capacity. At that point, we'll consider ourselves in commercial production, and then we'll have a continued ramp-up beyond 60% to 100% over the next few months after that. That's the typical commissioning stage that we've been planning at this point.
That really puts your company and, more importantly, this particular project in a pretty high tier in Brazil. Getting to that point is going to be a huge milestone.
Yes, this will be a huge milestone, reaching commercial production and nameplate by the end of the year. Given our projections, that would make Tocantinzinho Brazil's third-largest primary gold mine in production. So, a significant achievement and we're quite happy with the success we've had so far, keeping the project on time and on budget, which is always a big challenge and task to accomplish.
I see you have some other news about a transaction the company is involved in. This is another significant one. Let's update everyone on, first off, the transaction itself.
We announced a few weeks back the transaction to merge with Reunion Gold, with their key project in Guyana being the Oko West Project. For us, this is a means of creating a larger company. We feel there is going to be significant advantages to both sets of shareholders. We'll create essentially a larger company, and as we had always intended at G Mining Ventures, to create the next intermediate gold producer.
With Oko West, we're seeing ourselves being able to reach at least 500,000 ounces of gold production with these two assets. We've announced this transaction, filed the circular, and it's been mailed out to shareholders so that they can submit their votes, which will take place at our shareholder meeting scheduled on July 9th. So that's a key milestone coming up to close that transaction.
Absolutely. Louis-Pierre, it sounds like it's just an exciting time for the company, and it sounds like it's going to be a very busy next few months for you and the team.
It's not going to be a quiet summer month of vacationing. Lots left to be done. It's exciting times for the company, growing over the next couple of months here.
Source: https://www.proactiveinvestors.com/