Construction of the Tocantinzinho mine. Credit: G Mining Ventures
Canada-based mining company G Mining Ventures said on Monday it will restate its consolidated financial statements for 2024 to reflect certain accounting adjustments that were identified during a financial review for the first quarter.
The non-cash accounting adjustments worth about $32 million in total will have no impact on its cash position, liquidity, operating income, cash flows, or compliance with any financial covenants, its finance chief Julie Lafleur said.
The precious metals company is expected to release its first-quarter results on May 14.
The company on Monday also restated its fourth quarter 2024 net income to $15.2 million from $47.6 million reported earlier.
(By Pooja Menon; Editing by Leroy Leo)
