G Mining Ventures Commences Processing Ore at Tocantinzinho Project: Start of Hot Commissioning
TSX: GMIN
OTCQX: GMINF
All amounts are in USD unless stated otherwise
- Project remains on schedule and on budget for commercial production in H2-2024
- Dry and Wet Commissioning well advanced; Hot Commissioning with ore commencing
- Total project progress of 97% with construction essentially complete
- 2.0 Mt of ore stockpiled to date ahead of schedule; building of crushed ore stockpile starting
Ore was introduced into the grinding circuit on
Approximately 2.0 million tonnes ("Mt") of ore have been stockpiled, with 1.5 Mt grading 0.77 g/t in the low-grade stockpile, and 0.5 Mt grading 1.29 g/t in the high-grade stockpile. Hot commissioning activities will initially use the low-grade stockpiled ore and progressively feed higher-grade ore as production ramps up toward a planned throughput of 4.7 Mt per year, and mining progresses toward the higher-grade hard rock.
The total Project progress is an impressive 97% complete as of
Update Photo
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Project Development Timeline
The Project remains on track and on budget for commercial production in H2-2024.
Virtual Site Tour and Feasibility Study Presentation
Updated satellite imagery and 360 photography showing the site progress is available through the corporate presentation at: https://vrify.com/decks/14338. A 3D presentation of the Project Feasibility Study is available at: Feasibility Study 3D VRIFY Presentation. Both presentations can be accessed by visiting GMIN's website at https://www.gminingventures.com.
Timetable and Next Steps
Upcoming key milestones include:
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June 13, 2024 : Mailing and filing of joint management information circular, and related materials, for GMIN's Annual General and Special Shareholders Meeting for the approval of transaction with Reunion Gold Corporation and annual corporate matters -
July 9, 2024 : GMIN's Annual General and Special Shareholders Meeting - H2-24: Commercial production
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Additional Information
For further information on GMIN, please visit the website at www.gminingventures.com.
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release constitute "forward-looking information" and "forward-looking statements" within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release. Forward-looking statements contained in this press release include, without limitation, those related to (i) the Project remaining on schedule and on budget for commercial production in H2-2024 (with imminent commencement of production); (ii) the Project's commissioning being well advanced; (iii) the anticipated throughput of 4.7 Mt per year and 175,000 ounces of gold of annual production; (iv) the Project becoming
Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Such
assumptions include, without limitation, those relating to the price of gold and currency exchange rates, those outlined in the Feasibility Study and those underlying the items listed on the above sections entitled "Timetable and Next Steps" and "About
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that, notably but without limitation, the Corporation will (i) continue to progress on all fronts at the Project, (ii) keep its expenditures and schedule in line with the Project Feasibility Study, (iii) carry its next steps as per the above timetable and effect the transition to commercial production as contemplated, (iv) complete commissioning as planned, (v) bring the Project into commercial production in the H2-2024, or at all, (vi) grow TZ into
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in the Corporation's other filings with the securities regulators of
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