G Mining Ventures Corp. has commenced early works construction at its Oko West Gold Project in Guyana, backed by an Interim Environmental Permit. The initial phase includes building critical infrastructure with an estimated capital expenditure of $200 million to $240 million. Upcoming milestones indicate the company’s strategic goals for achieving project development and formal construction decision by mid-2025.
G Mining Ventures Corp. has officially commenced early works construction at the Oko West Gold Project in Guyana, a significant advancement in its development. Following the acquisition of an Interim Environmental Permit from the Guyana Environmental Protection Agency, the program will encompass critical infrastructure initiatives as part of a projected total capital expenditure between $200 million and $240 million for 2025. This phase includes preparations for a barge landing on the Cuyuní River and establishing a permanent camp.
The early works construction encompasses several key activities, including:
1. Barge landing facility
2. Main access road and internal roads
3. Airstrip
4. Permanent camp facility
5. Water and sewage treatment plants
6. Power generation
7. Communications tower
President and CEO Louis-Pierre Gignac stated, “The commencement of early works construction at Oko West demonstrates our commitment to expedite the delivery of another world-class gold project.” He emphasized the application of their extensive development expertise to uphold high safety and environmental standards during execution. The early-stage endeavors establish a foundation for potentially accelerating project construction, pending the publication of the Feasibility Study and acquisition of financing by mid-2025.
The forthcoming Feasibility Study for Oko West is expected to publish in the second quarter of 2025, featuring revised mineral resource and reserve estimates. A favorable outcome, alongside the attainment of final permits and project financing, could facilitate a formal construction decision in the latter half of 2025.
Key milestones for Oko West in 2025 include:
– Publication of the Feasibility Study (Q2 2025)
– Project financing (H2 2025)
– Formal construction decision (H2 2025)
– Continuation of detailed engineering (2025)
– Greenfield and brownfield exploration (2025)
G Mining Ventures Corp. aims to become a prominent mid-tier precious metals producer through the acquisition, exploration, and development of valuable mining projects. The company currently benefits from its operations in Guyana and Brazil, notably the Tocantinzinho Gold Mine and other projects, in regions conducive to mining activities.
The announcement by G Mining Ventures Corp. regarding the initiation of early works construction at the Oko West Gold Project marks a pivotal development in advancing the project towards potential operational status. With critical infrastructure being established and the Feasibility Study due later this year, the company appears poised to make significant strides in its journey to becoming a mid-tier precious metals producer. Vigilance in securing financing and regulatory approvals will be crucial to achieving the outlined milestones and ultimately realizing the project’s full potential.
Original Source: www.juniorminingnetwork.com
