Canadian firm secures C$49M to advance gold exploration in Guyana

Sep 14, 2025 News

Kaieteur News – To advance its gold exploration in Guyana, Canadian gold company G2 Goldfields has secured a non-brokered private placement of C$49,500,000.

According to the company, the placement is up to 15,000,000 common shares at a price of C$3.30 per share. It was explained that the proceeds are expected to be used for continued exploration and development of the mineral properties in Guyana and for general working capital and general corporate purpose.

Daniel Noone, Chief Executive Officer (CEO) and Director of G2 said, “The completion of this Offering, backed by the continued support of our two largest shareholders, places the Company in a strong financial position ahead of delivering on key milestones in the fourth quarter of 2025, including the updated Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA).”

Noone added, “Their confidence underscores the quality of our assets and our near-term strategy, and with this strengthened balance sheet, we are well positioned to advance our projects and deliver value to all shareholders.”

In a press release dated August 28, the company announced that the Ministry of Natural Resources and Guyana Geology and Mines Commission approved the issuance of two large-scale Prospecting Licences (PL).

G2 noted that the PL’s encompass G2’s high-grade Oko-Ghanie Gold Deposit which is located in Guyana. The PL encompass the Oko and Ghanie Deposits, 1.5 million ounces indicated at 3.40 g/t Au and 1.6 million ounces inferred at 2.48 g/t Au, with a combined area of approximately 17,451 acres and replace 11 separate medium-scale mining permits previously held in the name of Guyanese entrepreneurs through option agreements.

Notably, the PL have a three-year term with two renewal rights for one year each and provides for the right of occupation and exclusive right to explore for gold and precious minerals. G2 noted that over the last two years, comprehensive environmental baseline studies have been conducted via third party consultants. The company noted that these studies were designed to recommend actions for effective project design, regulatory compliance and to support the preparation of an Environmental Social Impact Assessment (ESIA).

In March, G2 announced an Updated Mineral Resource Estimate (MRE) for the Oko property: Oko Main Zone (OMZ): 808,000 ounces indicated and 513,500 ounces inferred gold (open pit + underground); Ghanie Zone: 663,400 ounces indicated and 1,024,500 ounces inferred gold and Oko NW Zone: 97,200 ounces inferred (open pit). The MRE, prepared by Micon International Limited, highlights the Oko district’s potential, which has been a prolific alluvial goldfield since the 1870s.

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Canadian firm, G2 Goldfields, gold, Gold Mining

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