G Mining Ventures Corp (TSX-V:GMIN, OTCQX:GMINF) told investors it is on track and budget for commercial production at its Tocantinzinho Gold Project (TZ) in Pará state, Brazil in the second half of 2024.
Outlining the milestones achieved in 2023, the company said the project is 76% complete, with overall construction at 73% and the powerline, spanning 193 kilometers, completed and commissioned ahead of schedule and on budget.
Total commitments of $430 million – 94% of the project total – are tracking in line with the Feasibility Study budget, it added.
“Every day, I am impressed by the experience, ability, innovation, and can-do attitude exhibited by the GMIN family, in executing our proven self-perform approach at TZ,” CEO Louis-Pierre Gignac commented in a statement.
The company noted it is fully funded to reach commercial production, with $250 million from a gold stream from Franco-Nevada Corp, $82 million in…
