The overall project itself is 87%, trending on time for commercial production in H2 2024 as the company had previously targeted.
Tocantinzinho is host to an open-pit gold deposit located on underexplored land covering nearly 1,000 sq. km. The property has direct access via 103 km of all-weather roads starting from the national highway, the BR-163, that links the industries in southern Brazil to the city of Belem in the north.
To date, G Mining has spent $433 million on the project and committed a further $16 million in expenditures. The total spending commitment of $449 million represents about 98% of the project total, and is tracking in line with the project’s feasibility study (FS).
According to the FS report from 2021, the Tocantinzinho gold project has an initial capital cost of $427 million and a life of mine sustaining capital of $71 million. Its after-tax net present value is pegged at $622 million (at 5% discount),…
