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Canadian firm’s Guyana gold project to double annual output over its Brazil operation
(Kaieteur News) – Canadian gold producer G Mining Ventures Corp.’s (GMIN) Oko West Gold Project in Guyana is positioned to more than double the company’s current annual gold production at its Tocantinzinho Gold Mine (TZ) in the State of Pará, Brazil.
GMIN has reported that its Tocantinzinho mine fourth-quarter production totalled 47,346 ounces and produced 171,871 ounces of gold for the full year ended December 31, 2025.
By contrast, the Canadian miner is targeting average annual production of 350,000 ounces of gold from its fully permitted Oko West Gold Project in Guyana roughly twice the output achieved at Tocantinzinho last year.
An aerial view of the Oko West gold project in Guyana.
GMIN’s its Tocantinzinho Gold Mine (TZ) in Brazil.
“Tocantinzinho delivered a strong fourth quarter, successfully closing its first full year of commercial production,” President and Chief Executive Officer Louis-Pierre Gignac said. “Continued optimization initiatives are driving improvements in mine and plant productivity. These strong operational results were achieved alongside a solid safety performance, with only two lost time incidents, resulting in a Lost Time Injury Frequency Rate of 0.15.”
According to the company, the Brazilian mine processed 4,086 kilotonnes of ore in 2025 at an average grade of 1.44 grams per tonne of gold, with recoveries averaging 90.6 per cent. The average mining rate increased to 64.7 thousand tonnes per day in the fourth quarter, representing an 18 per cent rise compared to the previous quarter following the commissioning of additional mining equipment.
Gold sales amounted to 172,093 ounces for the full year.
The production update comes as GMIN advances development of Oko West, which is estimated to contain approximately 5.4 million ounces of gold.
In December, this publication reported that GMIN secured a 20-year mining licence from the Guyana Geology and Mines Commission (GGMC) for its 100 per cent-owned Oko West Gold Project in Region Seven.
The licence, which took effect on December 5, 2025, authorises full development, operation and commercial production at the site. At Oko West, GMIN is targeting an average annual production of 350,000 ounces of gold over a 12.3-year mine life. GMIN is set to commence pre-production open pit mining in the first three months of 2026, with the assembly of the initial mining equipment fleet already underway. Production is expected in 2027.
GMIN is among five Canadian mining companies collectively controlling an estimated 15.5 million ounces of gold across various stages of development in Guyana. These projects, spanning across Guyana’s mining regions, are progressing through exploration, feasibility studies, and permitting. Many of the companies have praised Guyana’s mining-friendly policies and are banking on these projects to drive substantial growth for their shareholders.
Analysts have pointed to Oko West as the company’s key growth driver.
Kaieteur News reported that GMIN GMIN) has been recognised as one of the Toronto Stock Exchange’s top-performing companies, amid a strong year for gold producers driven by rising prices.
In its annual review, La Presse highlighted the robust performance of precious metals companies in 2025, noting, “The past year was one for gold. Producers of precious metals benefited from the rise in the value of an ounce of gold on the markets. The yellow metal can be seen as a hedge at a time when tariffs, as well as economic and geopolitical uncertainty, remain in focus.”
The publication pointed to GMIN as a compelling growth story, citing the company’s execution track record and the clear path forward for its flagship Oko West Gold Project in Guyana.
Analyst Rabi Nizami of National Bank Financial, in a report said G Mining, “remains a very compelling growth stock given the management team’s now proven execution capabilities and a clear, fully permitted and financed path that will demonstrate the success of a larger-scale project at Oko West, in Guyana.”
According to the report, GMIN shares surged 280 per cent in 2025, with all 13 analysts officially covering the company maintaining a “buying” recommendation on the stock.
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