G Mining Ventures Reports Strong Q2 Results, Maintains 2026 Gold Production Guidance
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G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) has released its second-quarter 2026 financial results, showcasing significant growth and a solid balance sheet. The company reported revenue of $157.1 million from the sale of 37,439 ounces of gold at an average realized price of $4,197 per ounce. Gold production reached 36,845 ounces, a 16% increase sequentially, and net income totaled $72 million, or $0.30 per basic share. Free cash flow also surged to $84.8 million during the quarter.
As of the end of the quarter, G Mining held $225.7 million in cash and cash equivalents, with long-term debt of $33 million, resulting in a net cash position of $192.7 million. This financial strength positions the company well to continue its growth trajectory and fund ongoing development projects.
The company reaffirmed its 2026 production guidance of 160,000 to 190,000 ounces of gold, with approximately 61% of output expected in the second half of the year. This forecast reflects the anticipated access to higher-grade Phase 2 mineralization at the Tocantinzinho mine in Brazil. G Mining also revised its full-year cash cost guidance to $836-$965 per ounce and all-in sustaining cost guidance to $1,330-$1,544 per ounce, while maintaining capital expenditure guidance.
Beyond its current operations, G Mining is making significant strides in expanding its portfolio. Construction at the Oko project in Guyana remains on schedule, with first gold targeted for the second half of 2027. The company has also completed the acquisition of G2 Goldfields, which is expected to support the development of an expanded Oko gold project. These initiatives underscore G Mining's commitment to becoming a leading mid-tier precious metals producer.
The company's focus on mining-friendly jurisdictions, including Brazil and Guyana, provides a stable foundation for growth. With strong access to capital and proven development expertise, G Mining is well-positioned to capitalize on the value uplift from successful mine development. The positive quarterly results and maintained guidance reflect the company's operational efficiency and strategic planning, offering confidence to investors and stakeholders in the mining industry.
For more details, the full press release is available at https://ibn.fm/jd2EN. Updates and news related to GMINF can be found in the company's newsroom at https://ibn.fm/GMINF.