At current gold price, Canadian company set for massive profit

Oct 28, 2025 News

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…Cost to produce an ounce of gold pegged at US$1,200

(Kaieteur News) – President and Chief Executive Officer of G Mining Ventures (GMIN), Louis-Pierre Gignac, has disclosed that the company’s Oko West Gold Project, located in Region Seven, Guyana, has an All-In Sustaining Cost (AISC) estimated between US$1,100 and US$1,200 per ounce.

GMIN’s target for the Oko West mine is an average annual production of 350,000 ounces of gold over a 12.3-year mine life. This gold mine is estimated to hold 5.4 million ounces of gold.

“At Oko, we’re looking at around $1,100 to $1,200 all-in sustaining costs per ounce, which is slightly above what we have at Tocantinzinho (Brazil mine),” Gignac revealed during an interview with BNN Bloomberg.

AISC is an industry standard used to determine the total cost of producing one ounce of gold.  With global gold prices currently trading just over US$4,000 per ounce, GMIN stands to earn a massive profit once gold prices remain high when gold production commences at Oko West by 2027.

Gold prices have remained elevated in recent years and recently reaching over US$4000 per ounce for the first time in history. Notably, GMIN’s CEO last year said that if gold prices remain high when production commences at Oko West, Guyana could receive corporate taxes. Gignac said that unlike his father’s previous involvement with Omai’s gold project, where the company did not pay corporate taxes to Guyana due to low prices at the time, he is confident that Oko West will benefit from the current high gold prices. As such, he had expressed optimism about paying corporate taxes to the government, contingent on gold prices remaining high.

Further during the BNN Bloomberg interview, Gignac reminded that construction of the Oko West project began early 2025, and with the company recently securing a financing package, the company now has full funding to complete the development of what he described as a “world-class project.”

Gignac said, “We are fully funded now with that financing package that complements our cash flow from our Tocantinzinho Mine in Brazil, which is generating great cash flow at these gold prices.”

In October GMIN announced that it secured a whopping US$387.5 million financing package to kickstart development. The financing package is anchored by an agreement with a syndicate of financial institutions for a revolving credit facility that allows the company to borrow up to US$350 million, with an accordion feature for an additional US$150 million available post-closing, which is subject to customary conditions.

Speaking about the Tocantinzinho Mine, Gignac said commercial production was achieved about a year ago, and the company expects to produce approximately 175,000 ounces of gold from that operation this year. “We were able to complete that basically on time and on budget for about US$460 million for an asset that will produce gold for the next 10 years at around 175,000 ounces,” he said.

The CEO noted that the success of the Brazil development has positioned, well for its Guyana project which is much larger.  He noted that the Oko West project, is expected to have a capital expenditure just shy of US$1 billion. “Obviously this is a much larger project one that will produce 350,000 ounces a year on average for the next 13 years,” he stated.

Gignac shared that the Oko West operation will begin as an open-pit mine, which will feed the process plant. He said once commercial production is underway, GMIN will then move to develop the underground portion of the mine.

The CEO said the company’s roadmap is to reach a combined production of half a million ounces per year across its two mines. “That’s going to catapult us to essentially the intermediate producer status with two operating assets,” he said.

Last week GMIN announced that its Board of Directors has approved the start of full construction of its 100 percent-owned Oko West Gold Project.

GMIN is the 100 percent owner of the Oko West Gold Mine through its Guyanese subsidiary.  The company’s main prospecting licence (PL) covers 44 square kilometers (10,890 acres). However, the company later revealed that it expanded its land holdings in Region Seven to 71 square kilometers.

GMIN is in possession of an environmental permit from Guyana’s Environmental Protection Agency (EPA) for the Oko West 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. The feasibility study for Oko West outlines a long-life, low cost, and high-margin operation.

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• Canadian company, G Mining Ventures, gold price, Louis-Pierre Gignac, massive profit

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