- G Mining Ventures (GMIN) has announced progress on the project financing for the Tocantinzinho Gold Project in Brazil
- The company is working towards having the project financing secured by mid-2022
- The company is working to obtain 60 to 70 per cent of the capital requirements from non-equity sources to minimize capital costs and maximize equity return
- G Mining Ventures is a mineral exploration company with properties in Québec and Brazil
- G Mining Ventures (GMIN) opened trading at C$0.75 per share
G Mining Ventures (GMIN) has announced progress on financing for its 100 per cent owned Tocantinzinho Gold Project in Brazil.
The company is working towards having the project financing secured and a construction decision by mid-2022.
G Mining Ventures has received various proposals from leading financiers in the global mining sector. GMIN has finalized its analysis of these proposals and will reach out to selected parties.
The company is working to obtain 60 to 70 per cent of the capital requirements from non-equity sources, with the objective of minimizing capital costs while maximizing equity return.
Louis-Pierre Gignac, President & CEO of GMIN, commented on the financing update.
“After much hard work, we are nearing completion of our project financing process as we advance towards making a positive construction decision. Despite the challenging market conditions, the capital markets have given us a lot of support for our ‘Self Perform’ model in project execution, recognizing our team’s track record of delivering projects on time and on budget. Considerable due diligence has been performed by all parties involved, and while there are still items to be finalized, we are excited to get close to achieving this major milestone. We look forward to sharing the details on the project financing package, once finalized.”
G Mining Ventures is a mineral exploration company with properties in Québec and Brazil.
G Mining Ventures Corp. (GMIN) opened trading at C$0.75 per share.