Latest update March 26th, 2026 7:55 AM
Canadian firm boast of its Guyana Oko West gold project being one of the most attractive in the Americas
GMIN’s President & Chief Executive Officer Louis-Pierre Gignac
Kaieteur News – Director and Chief Executive Officer (CEO) of Canadian gold company G Mining Ventures (GMIN), Louis-Pierre Gignac, has touted the Oko West gold project as one of the most attractive gold development projects in the Americas and globally.
During an event last month, Gignac highlighted that the project has an exceptional production profile, averaging 350,000 ounces per year, and a low all-in sustaining cost of US$1,123 per ounce. He also pointed out that the large-scale project offers significant leverage to the gold price.
“At a $3,000 per ounce gold price the project’s NPD is estimated at $3,200,000,000 delivering a robust 35% after tax IRR. We have long viewed Guyana as a tier one jurisdiction that fosters responsible mining development,” he added.
The CEO outlined that GMIN’s view that Guyana is a tier one jurisdiction was reinforced by the Fraser Institute’s Mining Investment Attractiveness Index, which ranks Guyana ninth globally and first in Latin America and the Caribbean.
He had detailed that following the completion of the Feasibility Study for the project, the company was able to seamlessly transition into detail engineering focused on supporting procurement activities and designs for the project’s early work program.
On Tuesday, the company announced that it has received the Environmental Permit from Guyana’s Environmental Protection Agency (EPA) for the 5.4 million ounces Oko West Gold Project. The five-year permit is valid through July 2030. It authorises the construction and operation of Oko West, which is expected to create an average of 1,270 direct permanent jobs during its lifetime.
GMIN is the 100% owner of the Oko West gold project, which falls under its main prospecting licence (PL) covering 44 square kilometers (10,890 acres), containing an estimated 5.4 million ounces of gold. The company had revealed that it expanded its land holdings in Region Seven (Cuyuni-Mazaruni) to 71 square kilometers. The Feasibility Study for Oko West outlines a long-life, low cost, and high-margin operation. The company had said that the Oko West project is targeting an average annual production of 350,000 ounces of gold over a 12.3-year mine life.
Gignac had said that GMIN’s development schedule for Oko West is intentionally designed to accelerate the path to goals, while maintaining tight control over execution risk.
He had disclosed that the Oko West project is positioned to become the next major phase of growth for the company. He said with gold production at Oko West commencing by 2027, Oko West will propel GMIN’s annual gold production beyond the 500,000 ounces mark.
“We are very pleased with the rapid progress being made to unlock the value of our Oko West project, which is one of the largest gold development projects globally under construction. Our strategy is straightforward, disciplined execution of the Oko West project to achieve 500,000 ounces of production in 2028. The company continues to be focused on unlocking value through its exploration program…” he said.
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