G Mining Ventures Corp. generated $84.8 million in free cash flow during the second quarter ended June 30, 2026, backed by robust operational performance and strong precious metal prices at its Tocantinzinho mine in Brazil.

The operation delivered gold production of 36,845 ounces in the second quarter, a 16% increase over the first quarter. Gold sales totaled 37,439 ounces at a record average realized price of $4,197 per ounce, generating quarterly revenues of $157.1 million. Net income reached $72.0 million, and cash provided by operating activities totaled $103.8 million.

Production growth was driven by mill recoveries of 91.9% and plant feed grades averaging 1.23 grams per tonne of gold, up from 1.03 grams per tonne previously. Tocantinzinho achieved record quarterly mining of 6.3 million tonnes as mining advanced toward higher-grade Phase 2 mineralization.

Total cash costs of $1,046 per ounce sold and all-in sustaining costs of $1,690 per ounce sold rose compared to the prior period, largely driven by the stronger Brazilian real relative to the U.S. dollar.

“We delivered another strong quarter, with better-than-planned production and disciplined cost control driving robust margins and solid quarterly free cash flow.”

— Louis-Pierre Gignac, President and Chief Executive Officer

The company maintained its full-year 2026 production guidance. Full-year cost guidance was revised, with total cash costs updated to $836 to $965 per ounce sold and all-in sustaining costs updated to $1,330 to $1,544 per ounce sold, reflecting currency strength, labor inflation, and higher royalty costs linked to rising gold prices, which traded at $4,393.80 per ounce.

Cash and cash equivalents totaled $225.7 million against $33.0 million in long-term debt as of June 30, 2026, resulting in a net cash position of $192.7 million. Capital expenditures totaled $158.5 million in the quarter, including $131.3 million directed toward development at the Oko West project in Guyana.

“Our project pipeline continues to advance rapidly. At Oko, construction continues to advance on schedule and on budget, keeping us firmly on the path toward first gold pour in the second half of 2027.”

— Louis-Pierre Gignac, President and Chief Executive Officer

Project progress at Oko reached 28.0% as of June 30, 2026, with commercial production expected in early 2028 following the consolidation of the Oko-Ghanie deposits. G Mining Ventures also holds the Gurupi project in Brazil, where exploration programs are advancing toward a mineral resource estimate and preliminary economic assessment in the second half of 2026.

Read the full announcement: G Mining Ventures Reports Second Quarter 2026 Results – Strong Quarterly Free Cash Flow Reflects Solid Operational Performance